Targa Resources Past Earnings Performance

Past criteria checks 4/6

Targa Resources has been growing earnings at an average annual rate of 60.7%, while the Oil and Gas industry saw earnings growing at 24.4% annually. Revenues have been growing at an average rate of 18.3% per year. Targa Resources's return on equity is 29.6%, and it has net margins of 6.8%.

Key information

60.7%

Earnings growth rate

60.9%

EPS growth rate

Oil and Gas Industry Growth	21.8%
Revenue growth rate	18.3%
Return on equity	29.6%
Net Margin	6.8%
Last Earnings Update	31 Mar 2024

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown
Beta

How Targa Resources makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

LSE:0LD9 Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
31 Mar 24	16,102	1,097	1,451
31 Dec 23	16,060	828	1,427
30 Sep 23	16,376	868	1,407
30 Jun 23	17,839	844	1,379
31 Mar 23	20,491	890	1,313
31 Dec 22	20,930	897	1,223
30 Sep 22	21,817	244	1,160
30 Jun 22	20,916	211	1,077
31 Mar 22	18,276	-128	1,038
31 Dec 21	16,950	-16	1,020
30 Sep 21	14,081	319	997
30 Jun 21	11,737	195	961
31 Mar 21	9,844	210	938
31 Dec 20	8,260	-1,685	953
30 Sep 20	8,161	-1,828	937
30 Jun 20	7,949	-1,944	986
31 Mar 20	8,421	-2,034	1,044
31 Dec 19	8,671	-334	984
30 Sep 19	8,795	-327	1,088
30 Jun 19	9,879	-302	1,076
31 Mar 19	10,328	-182	1,020
31 Dec 18	10,484	-119	979
30 Sep 18	10,589	272	930
30 Jun 18	9,735	129	877
31 Mar 18	9,158	78	856
31 Dec 17	8,815	-63	826
30 Sep 17	8,125	-497	801
30 Jun 17	7,645	-339	785
31 Mar 17	7,361	-420	764
31 Dec 16	6,691	-278	741
30 Sep 16	6,326	-72	708
30 Jun 16	6,306	-19	706
31 Mar 16	6,421	49	715
31 Dec 15	6,659	58	702
30 Sep 15	7,044	57	681
30 Jun 15	7,700	75	649
31 Mar 15	8,002	86	603
31 Dec 14	8,617	102	635
30 Sep 14	8,688	97	582
30 Jun 14	7,866	83	561
31 Mar 14	7,212	71	548
31 Dec 13	6,315	65	528
30 Sep 13	5,738	56	512
30 Jun 13	5,665	48	490

Quality Earnings: 0LD9 has high quality earnings.

Growing Profit Margin: 0LD9's current net profit margins (6.8%) are higher than last year (4.3%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: 0LD9 has become profitable over the past 5 years, growing earnings by 60.7% per year.

Accelerating Growth: 0LD9's earnings growth over the past year (23.3%) is below its 5-year average (60.7% per year).

Earnings vs Industry: 0LD9 earnings growth over the past year (23.3%) exceeded the Oil and Gas industry -61.4%.

Return on Equity

High ROE: Whilst 0LD9's Return on Equity (29.64%) is high, this metric is skewed due to their high level of debt.

Targa Resources Past Earnings Performance

Past criteria checks 4/6

Key information

Recent past performance updates

First quarter 2024 earnings released: EPS: US$1.24 (vs US$0.028 in 1Q 2023)

Targa Resources Corp. to Report Q1, 2024 Results on May 02, 2024

Full year 2023 earnings released: EPS: US$3.75 (vs US$3.95 in FY 2022)

Targa Resources Corp. to Report Q4, 2023 Results on Feb 15, 2024

Third quarter 2023 earnings released: EPS: US$0.98 (vs US$0.85 in 3Q 2022)

Targa Resources Corp. to Report Q3, 2023 Results on Nov 02, 2023

Recent updates

First quarter 2024 earnings released: EPS: US$1.24 (vs US$0.028 in 1Q 2023)

Upcoming dividend of US$0.75 per share

Fourth quarter dividend increased to US$0.75

Targa Resources Corp. to Report Q1, 2024 Results on May 02, 2024

Targa Resources Corp., Annual General Meeting, May 16, 2024

Insufficient new directors

Targa Resources Corp. Appoints Caron A. Lawhorn as Class III Director and Member of Audit Committee

Targa Resources Corp. Announces Board Changes

Chief Financial Officer recently sold US$2.5m worth of stock

Now 23% overvalued after recent price rise

Full year 2023 earnings released: EPS: US$3.75 (vs US$3.95 in FY 2022)

Insufficient new directors

Upcoming dividend of US$0.50 per share at 2.4% yield

Targa Resources Corp. to Report Q4, 2023 Results on Feb 15, 2024

Targa Resources Corp. Provides Earnings Guidance for the Full Year 2023

Third quarter 2023 earnings released: EPS: US$0.98 (vs US$0.85 in 3Q 2022)

Upcoming dividend of US$0.50 per share at 2.3% yield

Targa Resources Corp. to Report Q3, 2023 Results on Nov 02, 2023

Now 21% undervalued

Now 21% undervalued

Chairman of the Board recently sold US$1.5m worth of stock

Second quarter 2023 earnings released: EPS: US$1.46 (vs US$1.64 in 2Q 2022)

Upcoming dividend of US$0.50 per share at 2.5% yield

Targa Resources Corp. to Report Q2, 2023 Results on Aug 03, 2023

Targa Resources Corp. (NYSE:TRGP) announces an Equity Buyback for $1,000 million worth of its shares.

First quarter 2023 earnings released: EPS: US$0.028 (vs US$0.057 in 1Q 2022)

Upcoming dividend of US$0.50 per share at 1.8% yield

Executive VP recently sold US$2.4m worth of stock

Full year 2022 earnings released: EPS: US$3.96 (vs US$0.07 loss in FY 2021)

Targa Resources Corp. to Report Q4, 2022 Results on Feb 22, 2023

Targa Resources Corp. (NYSE:TRGP) completed the acquisition of 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX).

Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX) for $1.1 billion.

Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire 25% stake in Grand Prix Natural Gas Liquids Pipeline from Blackstone Energy Partners L.P. managed by Blackstone Inc. (NYSE:BX) for $1.1 billion.

Senior VP & Chief Accounting Officer recently sold US$148k worth of stock

Senior VP & Chief Accounting Officer recently sold US$148k worth of stock

Third quarter 2022 earnings released: EPS: US$0.85 (vs US$0.70 in 3Q 2021)

Upcoming dividend of US$0.35 per share

Targa Resources Corp. to Report Q3, 2022 Results on Nov 03, 2022

Executive VP recently sold US$438k worth of stock

Second quarter 2022 earnings released: EPS: US$1.63 (vs US$0.15 in 2Q 2021)

Upcoming dividend of US$0.35 per share

Targa Resources Corp. to Report Q2, 2022 Results on Aug 04, 2022

Targa Resources Corp. (NYSE:TRGP) entered into a definitive agreement to acquire Lucid Energy Delaware LLC from Goldman Sachs Asset Management, L.P. and Riverstone Holdings LLC for $3.6 billion.

Independent Director recently sold US$172k worth of stock

First quarter 2022 earnings released: EPS: US$0.39 (vs US$0.55 in 1Q 2021)

Targa Resources Corp. (NYSE:TRGP) completed the acquisition of Southcross Energy Operating, LLC from Southcross Energy Partners, L.P.

Upcoming dividend of US$0.35 per share

Targa Resources Corp. Announces Quarterly Dividends, Payable on May 16, 2022

Targa Resources Corp., Annual General Meeting, May 24, 2022

Now 20% undervalued

Chief Commercial Officer recently sold US$672k worth of stock

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Targa Resources Corp. Announces Impairment Results for the Quarter December 31, 2021

President of Logistics & Transportation recently sold US$1.4m worth of stock

Third quarter 2021 earnings released: EPS US$0.70 (vs US$0.16 in 3Q 2020)

Upcoming dividend of US$0.10 per share

Second quarter 2021 earnings released: EPS US$0.15 (vs US$0.21 in 2Q 2020)

Targa Resources Corp. Provides Production Guidance for the Year 2021

Upcoming dividend of US$0.10 per share

Investor sentiment improved over the past week

Independent Director recently sold US$304k worth of stock

Independent Director recently sold US$1.5m worth of stock

Targa Resources Corp. Provides Earnings Guidance for the Year 2021

First quarter 2021 earnings released: EPS US$0.55 (vs US$7.60 loss in 1Q 2020)

Upcoming dividend of US$0.10 per share

Full year 2020 earnings released: US$7.22 loss per share (vs US$1.44 loss in FY 2019)

Revenue beats expectations

Revenue & Expenses BreakdownBeta

Earnings and Revenue History

Revenue & Expenses Breakdown
Beta