Targa Resources, Inc. Plans Quarterly Dividend of $1.00 (NYSE:TRGP)

Targa Resources, Inc. (NYSE:TRGP) announced a quarterly dividend on Thursday, January 15th. Stockholders of record on Friday, January 30th will be paid a dividend of 1.00 per share by the pipeline company on Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, January 30th.

Targa Resources has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Targa Resources has a payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Targa Resources to earn $9.72 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 41.2%.

Targa Resources Stock Down 0.5%

Shares of TRGP stock opened at $181.88 on Friday. Targa Resources has a twelve month low of $144.14 and a twelve month high of $218.51. The stock has a market cap of $39.04 billion, a P/E ratio of 24.19, a P/E/G ratio of 0.89 and a beta of 0.87. The stock has a 50 day moving average of $177.76 and a 200 day moving average of $168.69. The company has a current ratio of 0.77, a quick ratio of 0.61 and a debt-to-equity ratio of 5.91.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $2.20 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.02). The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Targa Resources had a return on equity of 51.87% and a net margin of 9.35%. As a group, sell-side analysts expect that Targa Resources will post 8.15 EPS for the current year.

About Targa Resources

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.