Targa Resources, Inc. (NYSE:TRGP) Declares $1.25 Quarterly Dividend

Targa Resources, Inc. (NYSE:TRGP) declared a quarterly dividend on Thursday, July 16th. Investors of record on Friday, July 31st will be paid a dividend of 1.25 per share by the pipeline company on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, July 31st.

Targa Resources has increased its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 5 years. Targa Resources has a payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Targa Resources to earn $12.33 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 40.6%.

Targa Resources Stock Performance

TRGP stock opened at $280.46 on Friday. The stock’s 50 day simple moving average is $267.11 and its 200 day simple moving average is $238.26. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.64. Targa Resources has a 12-month low of $144.14 and a 12-month high of $282.80. The stock has a market capitalization of $60.20 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.68 billion. Targa Resources had a return on equity of 71.00% and a net margin of 12.87%. As a group, research analysts forecast that Targa Resources will post 10.74 earnings per share for the current fiscal year.

Targa Resources Company Profile

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.