Targa Resources (TRGP) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.
Targa Resources Corporation, a $43.5 billion market cap gas midstream company focused on NGLs, offers a dividend yield of $3.00/share (1.5%) with an expected increase to $2.00/share (2.0%). The company dominates a much needed natural gas processing capacity niche in the Permian Basin. Waha prices remain pressured, which benefits Targa. Targa's stock price is up over 50% in less than a year, but the company has good growth projects underway.
TRGP offers solid financial performance and stable revenues from fee-based contracts but is exposed to regulatory uncertainties, market competition and execution risks.
TRGP's adjusted EBITDA for the fourth quarter totaled $1.1 billion, up from $959.9 million in the prior-year period.
Targa Resources (TRGP) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Targa Resources (TRGP) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Targa Resources Corp. (NYSE:TRGP ) Q4 2024 Earnings Conference Call February 20, 2025 11:00 AM ET Company Participants Tristan Richardson - Vice President, Investor Relations & Fundamentals Matt Meloy - Chief Executive Officer & Director Jen Kneale - President of Finance & Administration Will Byers - Executive Vice President & Chief Financial Officer Scott Pryor - President of Logistics & Transportation Pat McDonie - President of Gathering & Processing Bobby Muraro - Chief Commercial Officer Conference Call Participants Jeremy Tonet - JPMorgan Keith Stanley - Wolfe Research Manav Gupta - UBS AJ O'Donnell - TPH Michael Blum - Wells Fargo Neal Dingmann - Truist Securities Theresa Chen - Barclays Brandon Bingham - Scotiabank Harry Mateer - Barclays Sunil Sibal - Seaport Global Operator Thank you for standing by, and welcome to Targa Resource Corp's Fourth Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Besides Wall Street's top -and-bottom-line estimates for Targa Resources (TRGP), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2024.
TRGP might have witnessed growth in the fourth quarter from strong activity, but lower NGL production and inflation could have challenged profitability.
Beyond analysts' top -and-bottom-line estimates for Targa Resources (TRGP), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2024.
Beyond analysts' top -and-bottom-line estimates for Targa Resources (TRGP), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2024.
Does Targa Resources, Inc. (TRGP) have what it takes to be a top stock pick for momentum investors? Let's find out.