Targa Resources, Inc. (TRGP) to Issue Quarterly Dividend of $1.25 on August 14th

Targa Resources, Inc. (NYSE:TRGP) declared a quarterly dividend on Thursday, July 16th. Shareholders 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) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, July 31st.

Targa Resources has raised its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 5 years. Targa Resources has a payout ratio of 53.7% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Targa Resources stock opened at $283.39 on Friday. The stock’s 50 day moving average is $267.82 and its 200 day moving average is $238.58. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.72 and a quick ratio of 0.62. Targa Resources has a one year low of $144.14 and a one year high of $285.56. The firm has a market cap of $60.83 billion, a P/E ratio of 28.65, a P/E/G ratio of 1.44 and a beta of 0.71.

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