Targa Resources Partners (NASDAQ:NGLS) declared a quarterly dividend on Wednesday, July 17th, StockRatingsNetwork reports. Shareholders of record on Monday, July 29th will be given a dividend of $0.715 per share on Wednesday, August 14th. This represents a $2.86 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, July 25th. This is a positive change from Targa Resources Partners’s previous quarterly dividend of $0.70.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Targa Resources Partners from $48.00 to $49.00 in a research note to investors on Tuesday, May 7th. They now have a “buy” rating on the stock. On a related note, analysts at RBC Capital raised their price target on shares of Targa Resources Partners from $50.00 to $53.00 in a research note to investors on Tuesday, May 7th. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Targa Resources Partners from $46.00 to $51.00 in a research note to investors on Tuesday, May 7th.
Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $51.60.
Shares of Targa Resources Partners (NASDAQ: NGLS) traded down 0.27% during mid-day trading on Wednesday, hitting $52.45. Targa Resources Partners has a 52 week low of $34.39 and a 52 week high of $54.13. The stock’s 50-day moving average is currently $49.19. The company has a market cap of $5.391 billion and a P/E ratio of 72.34.
Targa Resources Partners (NASDAQ: NGLS) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. On average, analysts predict that Targa Resources Partners will post $1.04 earnings per share for the current fiscal year.
Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (NASDAQ: NGLS).