Targa Resources Corp reports results for the quarter ended June 30 - Earnings Summary

• Targa Resources Corp TRGP reported quarterly adjusted earnings of $9.60​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $1.33. The mean expectation of sixteen analysts for the quarter was for earnings of $1.87 per share. Wall Street expected results to range from $1.56 to $2.15 per share.

• Revenue rose 19.6% to $4.26 billion from a year ago; analysts expected $4.84 billion.

• The company reported quarterly net income of $629.1 million.

• Targa Resources Corp shares had fallen by 6.3% this quarter and lost 8.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.9% in the last three months.​

• In the last 30 days, seven analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas transportation services peer group is also "buy"

• Wall Street's median 12-month price target for Targa Resources Corp is $201.50, about 19.1% above its last closing price of $163.05

This summary was machine generated from LSEG data August 7 at 04:09 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)