Targa Resources: Here’s What Investors Need to Know Before Earnings

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Targa Resources (NYSE:TRGP) will report earnings before markets open on Friday, May 3rd. Targa Resources Corp. owns general and limited partner interests in a limited partnership that provides midstream natural gas and natural gas liquid services. The partnership gathers, compresses, treats, processes, and sells natural gas. The Company also stores, fractionates, treats, transports, and sells natural gas liquids and related products.

Here is your Cheat Sheet to Targa Resources Earnings:

Earnings Expectations: Analysts expect earnings of $0.20 per share on revenues of $1.86 billion. Currently, the company’s P/E ratio stands at 73.22.

Analyst Trends:

Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.24 and has not changed. For the current year, the average estimate is a profit of $1.18, which is better than the estimate ninety days ago.

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Earnings Trends:

Here’s how Targa Resources has been performing on an annual basis:

Fiscal Year 2008 2009 2010 2011 2012
Revenue ($) in millions 7,999 4,536 5,476 6,994 5,886
Diluted EPS ($) 0.00 0.00 -30.94 0.74 0.91

Next, our CHEAT SHEET investing framework asks us to drill down to the recent quarterly data:

Quarter Dec. 31, 2011 Mar. 31, 2012 Jun. 30, 2012 Sep. 30, 2012 Dec. 31, 2012
Revenue ($) in millions 1,934 1,646 1,319 1,394 1,527
Diluted EPS ($) 0.2053 0.23 0.21 0.21 0.2679

Past Performance:
Targa Resources has beat analyst estimates 2 times in the past four quarters. This is not consistent enough to get bullish yet.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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