- Targa Resources boosts its quarterly dividend by 33.3%, enhancing returns for shareholders.
- Experts project a 35.43% upside potential for Targa Resources with a new price target of $219.98.
- Despite optimistic projections, GuruFocus suggests caution with a calculated downside of 27.86%.
Targa Resources (TRGP, Financial) has announced a significant increase in its quarterly dividend, raising it by 33.3% to $1.00 per share from $0.75. This adjustment elevates the forward yield to 2.46%. Investors can expect payments to be distributed on May 15, provided they are recorded by April 30, with the ex-dividend date set for the same day.
Wall Street Analysts Forecast
Wall Street analysts have weighed in on the future prospects of Targa Resources Corp (TRGP, Financial). Drawing from forecasts by 20 analysts, the average target price is positioned at $219.98. Estimates vary significantly, with the highest prediction reaching $259.00, while the lowest estimate stands at $159.30. This average target price evokes a potential upside of 35.43% from the current market price of $162.43. Investors seeking detailed estimate data can explore the Targa Resources Corp (TRGP) Forecast page.
Among 23 brokerage firms, the consensus recommendation for Targa Resources Corp (TRGP, Financial) stands at 1.8, which translates into an "Outperform" rating. This consensus is based on a rating scale where 1 equates to a Strong Buy and 5 denotes a Sell.
According to GuruFocus metrics, the estimated GF Value for Targa Resources Corp (TRGP, Financial) a year from now is assessed at $117.18. This assessment implies a downside of 27.86% from the current trading price of $162.43. The GF Value metric is GuruFocus' calculated fair value of the stock, derived from historical trading multiples, past business growth, and future performance estimates. For a more comprehensive breakdown, visit the Targa Resources Corp (TRGP) Summary page.
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