Targa Resources (TRGP) Declares $0.50 Dividend
Targa Resources said on April 13, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Previously, the company paid $0.35 per share.
Shares must be purchased before the ex-div date of April 27, 2023 to qualify for the dividend. Shareholders of record as of April 28, 2023 will receive the payment on May 15, 2023.
At the current share price of $76.62 / share, the stock's dividend yield is 2.61%. Looking back five years and taking a sample every week, the average dividend yield has been 5.42%, the lowest has been 0.69%, and the highest has been 56.17%. The standard deviation of yields is 7.30 (n=237).
The current dividend yield is 0.38 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.62%.
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What is the Fund Sentiment?
There are 1317 funds or institutions reporting positions in Targa Resources.
This is an increase
of
154
owner(s) or 13.24% in the last quarter.
Average portfolio weight of all funds dedicated to TRGP is 0.61%,
a decrease
of 0.45%.
Total shares owned by institutions increased
in the last three months by 3.03% to 250,474K shares.
The put/call ratio of TRGP is 0.60, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 30.32% Upside
As of April 6, 2023, the average one-year price target for Targa Resources is $99.85. The forecasts range from a low of $87.87 to a high of $120.75. The average price target represents an increase of 30.32% from its latest reported closing price of $76.62.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Targa Resources is $24,819MM, an increase of 18.58%. The projected annual non-GAAP EPS is $5.60.
What are Other Shareholders Doing?
SSPIX - SIMT S&P 500 Index Fund Class F holds 5K shares representing 0.00% ownership of the company.
Sl Advisors holds 25K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 25K shares, representing a decrease of 2.03%. The firm decreased its portfolio allocation in TRGP by 99.89% over the last quarter.
SA FUNDS INVESTMENT TRUST - SA U.S. Value Fund holds 3K shares representing 0.00% ownership of the company. No change in the last quarter.
EQ ADVISORS TRUST - EQ holds 1K shares representing 0.00% ownership of the company.
Meritage Group holds 4K shares representing 0.00% ownership of the company.
Targa Resources Background Information
(This description is provided by the company.)
Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary midstream infrastructure assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting and purchasing and selling natural gas; transporting, storing, fractionating, treating and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling and purchasing and selling crude oil.
This story originally appeared on Fintel.