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Earnings Estimates Moving Higher for Targa Resources (TRGP): Time to Buy?

Targa Resources Corp. TRGP is an independent oil and gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on TRGP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Targa Resources could be a solid choice for investors.

Current Quarter Estimates for TRGP

In the past 30 days, 1 estimate has gone higher for Targa Resources while 1 has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 19 cents a share 30 days ago, to a loss of 14 cents today, a move of 26.3%.

Current Year Estimates for TRGP

Meanwhile, Targa Resources' current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 62 cents a share 30 days ago, to a loss of 41 cents today, a move of 33.9%.

Bottom Line

The stock has also started to move higher lately, adding 8.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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TARGA RESOURCES (TRGP): Free Stock Analysis Report
 
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