For the quarter ended December 2023, Targa Resources, Inc. (TRGP) reported revenue of $4.24 billion, down 6.9% over the same period last year. EPS came in at $1.23, compared to $1.38 in the year-ago quarter.
The reported revenue represents a surprise of -5.73% over the Zacks Consensus Estimate of $4.5 billion. With the consensus EPS estimate being $1.49, the EPS surprise was -17.45%.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.
Here is how Targa Resources, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Gathering and Processing – Total Plant natural gas inlet volumes: 7108.2 millions of cubic feet per day compared to the 7088.69 millions of cubic feet per day average estimate based on two analysts.
- Gathering and Processing – Plant natural gas inlet volumes – Total Field: 6541.2 millions of cubic feet per day versus the two-analyst average estimate of 6545.99 millions of cubic feet per day.
- Gathering and Processing – Average realized prices – Natural gas: $1.83 compared to the $2.16 average estimate based on two analysts.
- Gathering and Processing – Average realized prices – NGL: $0.43 versus $0.45 estimated by two analysts on average.
- Gathering and Processing – Plant natural gas inlet volumes – Badlands: 131.2 millions of cubic feet per day compared to the 130.1 millions of cubic feet per day average estimate based on two analysts.
- Gathering and Processing – Plant natural gas inlet volumes – Coastal: 567 millions of cubic feet per day compared to the 542.7 millions of cubic feet per day average estimate based on two analysts.
- Gathering and Processing – Plant natural gas inlet volumes – North Texas: 207.7 millions of cubic feet per day compared to the 212.3 millions of cubic feet per day average estimate based on two analysts.
- Gathering and Processing – Plant natural gas inlet volumes – Permian Midland: 2716.5 millions of cubic feet per day compared to the 2640.19 millions of cubic feet per day average estimate based on two analysts.
- Gathering and Processing – Plant natural gas inlet volumes – Permian Delaware: 2564.3 millions of cubic feet per day versus the two-analyst average estimate of 2566.4 millions of cubic feet per day.
- Gathering and Processing – Plant natural gas inlet volumes – Total Permian: 5280.2 millions of cubic feet per day versus the two-analyst average estimate of 5206.59 millions of cubic feet per day.
- Gathering and Processing – Plant natural gas inlet volumes – SouthTX: 347.9 millions of cubic feet per day compared to the 397.77 millions of cubic feet per day average estimate based on two analysts.
- Gathering and Processing – Plant natural gas inlet volumes – SouthOK: 366.5 millions of cubic feet per day compared to the 394.25 millions of cubic feet per day average estimate based on two analysts.
View all Key Company Metrics for Targa Resources, Inc. here>>>
Shares of Targa Resources, Inc. have returned +8.4% over the past month versus the Zacks S&P 500 composite’s +4.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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