Targa Resources Corp. (TRGP)
One Stock Most Likely To Miss Q3 2024 Estimates
Wall Street analysts were overly optimistic about second-quarter earnings for most S&P 500 companies, with 74% of Street EPS exceeding Core EPS. Our analysis reveals that Street Earnings overstate profits for 369 S&P 500 companies, with an average overstatement of 19%. 42% of S&P 500 companies have Street Earnings overstated by more than 10%, affecting 26.9% of the market cap as of 9/23/24.
Targa's Shares Gain 76% Year to Date: Time to Buy or Hold?
TRGP boasts a 76% year-to-date share price increase, fueled by growth and stable revenues. Yet, concerns over debt and valuation raise concerns.
Targa (TRGP) Q2 Earnings Beat Estimates, Revenues Rise Y/Y
Targa (TRGP) anticipates its capital expenditure for 2024 to be at $2.7 billion, with net maintenance capital expenditures amounting to $225 million.
Targa Resources: Large Growth Potential With High Capex Spending
Targa Resources is a high-growth midstream play whose assets provide an integrated system to deliver NGLs from the wellhead to export terminals. The company is very comparable to Enterprise Products in many ways. However, due to its smaller size, TRGP will realize a larger growth rate. With an estimated 13% CAGR, I rate TRGP as a buy with an initial price target of $180/share.
Targa Resources Corp. (TRGP) Q2 2024 Earnings Call Transcript
Targa Resources Corp. (NYSE:TRGP ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Sanjay Lad - Vice President, Finance and Investor Relations Matt Meloy - Chief Executive Officer Jen Kneale - President, Finance & Administration Pat McDonie - President, Gathering & Processing Scott Pryor - President, Logistics & Transportation Bobby Muraro - Chief Commercial Officer Conference Call Participants Jeremy Tonet - JPMorgan Spiro Dounis - Citi Theresa Chen - Barclays Michael Blum - Wells Fargo John Mackay - Goldman Sachs Manav Gupta - UBS Keith Stanley - Wolfe Research Sunil Sibal - Seaport Global Tristan Richardson - Scotiabank Operator Good day, and welcome to the Targa Resources Corporation Second Quarter 2024 Earnings Webcast and Presentation. At this time, all participants are in a listen-only mode.
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Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Targa Resources, Inc. (TRGP) have what it takes?
