In its upcoming report, Targa Resources, Inc. (TRGP) is predicted by Wall Street analysts to post quarterly earnings of $2.56 per share, reflecting an increase of 181.3% compared to the same period last year. Revenues are forecasted to be $5.15 billion, representing a year-over-year increase of 12.9%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Targa Resources metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Gathering and Processing - NGL sales per day' of 658.33 thousands of barrels of oil. Compared to the present estimate, the company reported 570.20 thousands of barrels of oil in the same quarter last year.
Analysts forecast 'Gathering and Processing - Gross NGL production - Coastal' to reach 37.81 thousands of barrels of oil per day. The estimate compares to the year-ago value of 32.70 thousands of barrels of oil per day.
Based on the collective assessment of analysts, 'Gathering and Processing - Condensate sales per day' should arrive at 21.34 thousands of barrels of oil. The estimate compares to the year-ago value of 18.10 thousands of barrels of oil.
Analysts expect 'Logistics and Marketing - NGL sales' to come in at 1,252.74 thousands of barrels of oil per day. Compared to the current estimate, the company reported 1,186.40 thousands of barrels of oil per day in the same quarter of the previous year.
The consensus estimate for 'Logistics and Marketing - Export volumes' stands at 424.49 thousands of barrels of oil per day. The estimate compares to the year-ago value of 447.70 thousands of barrels of oil per day.
The consensus among analysts is that 'Logistics and Marketing - Fractionation volumes' will reach 1,153.74 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 979.90 thousands of barrels of oil per day.
Analysts' assessment points toward 'Gathering and Processing - Total Plant natural gas inlet volumes' reaching . Compared to the present estimate, the company reported in the same quarter last year.
The combined assessment of analysts suggests that 'Gathering and Processing - Total Gross NGL production' will likely reach 1,117.52 thousands of barrels of oil per day. The estimate compares to the year-ago value of 943.10 thousands of barrels of oil per day.
The average prediction of analysts places 'Gathering and Processing - Average realized prices - Condensate' at $87.29 . Compared to the current estimate, the company reported $72.32 in the same quarter of the previous year.
It is projected by analysts that the 'Gathering and Processing - Plant natural gas inlet volumes - Badlands' will reach . The estimate compares to the year-ago value of .
Analysts predict that the 'Gathering and Processing - Plant natural gas inlet volumes - Coastal' will reach . Compared to the current estimate, the company reported in the same quarter of the previous year.
According to the collective judgment of analysts, 'Gathering and Processing - Plant natural gas inlet volumes - North Texas' should come in at . The estimate is in contrast to the year-ago figure of .
View all Key Company Metrics for Targa Resources here>>>Shares of Targa Resources have experienced a change of +5.4% in the past month compared to the +9.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), TRGP is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Targa Resources, Inc. (TRGP): Free Stock Analysis Report
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