Targa Resources, Inc. (TRGP) to Issue Quarterly Dividend of $1.25 on May 15th

Targa Resources, Inc. (NYSE:TRGP) declared a quarterly dividend on Thursday, April 16th. Shareholders of record on Thursday, April 30th will be paid a dividend of 1.25 per share by the pipeline company on Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 30th. This is a 25.0% increase from Targa Resources’s previous quarterly dividend of $1.00.

Targa Resources has increased its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Targa Resources has a dividend 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 Price Performance

NYSE:TRGP opened at $235.63 on Friday. Targa Resources has a 12-month low of $144.14 and a 12-month high of $253.87. The firm has a market capitalization of $50.61 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.55 and a beta of 0.81. The stock’s 50 day moving average price is $237.10 and its two-hundred day moving average price is $196.39. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21.

Targa Resources (NYSE:TRGP) last issued its earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.35 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. On average, analysts anticipate that Targa Resources will post 8.15 earnings per share 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.