For its first fiscal quarter (ending March 31), Targa Resources Corp (NYSE: TRGP) has reported a 4000% increase in E.P.S. from $0.03 a year ago to $1.23 in the current quarter. However, this performance was $-0.46 short of the consensus estimate of $1.69. E.P.S. were $4.88 for the latest four quarters through March 31 versus $3.92 for the same period a year ago — an increase of 24%.
Recent Price Action
Targa Resources Corp (NYSE: TRGP) stock closed at $112.99 on 5/2/24 after a modest gain of 0.5%. This advance was accompanied by normal trading volume. The stock has declined -3.3% during the last week but has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
TRGP’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a major Value Builder.
Targa Resources has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. Targa Resources has a slightly negative Appreciation Score of 32 but a good Power Rating of 73, leading to the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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