Insights Into Targa Resources (TRGP) Q2: Wall Street Projections for Key Metrics

Wall Street analysts expect Targa Resources, Inc. (TRGP) to post quarterly earnings of $1.91 per share in its upcoming report, which indicates a year-over-year increase of 43.6%. Revenues are expected to be $4.85 billion, up 36.2% from the year-ago quarter.The consensus EPS estimate for the quarter has been revised 2% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.Given this perspective, it's time to examine the average forecasts of specific Targa Resources metrics that are routinely monitored and predicted by Wall Street analysts.Based on the collective assessment of analysts, 'Gathering and Processing - NGL sales per day' should arrive at 591.25 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 569.70 thousands of barrels of oil.Analysts expect 'Gathering and Processing - Gross NGL production - Coastal' to come in at 32.03 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 34.40 thousands of barrels of oil per day.The collective assessment of analysts points to an estimated 'Gathering and Processing - Condensate sales per day' of 19.31 thousands of barrels of oil. The estimate is in contrast to the year-ago figure of 21.20 thousands of barrels of oil.It is projected by analysts that the 'Logistics and Marketing - NGL sales' will reach 1,093.79 thousands of barrels of oil per day. Compared to the current estimate, the company reported 1,018.40 thousands of barrels of oil per day in the same quarter of the previous year.Analysts predict that the 'Logistics and Marketing - Export volumes' will reach 443.45 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 394.10 thousands of barrels of oil per day.The combined assessment of analysts suggests that 'Logistics and Marketing - Fractionation volumes' will likely reach 1,106.38 thousands of barrels of oil per day. The estimate compares to the year-ago value of 902.20 thousands of barrels of oil per day.Analysts' assessment points toward 'Gathering and Processing - Total Plant natural gas inlet volumes' reaching . The estimate compares to the year-ago value of .The consensus among analysts is that 'Gathering and Processing - Total Gross NGL production' will reach 990.94 thousands of barrels of oil per day. Compared to the present estimate, the company reported 965.70 thousands of barrels of oil per day in the same quarter last year.The consensus estimate for 'Gathering and Processing - Average realized prices - Condensate' stands at $62.47 . Compared to the present estimate, the company reported $72.83 in the same quarter last year.The average prediction of analysts places 'Gathering and Processing - Plant natural gas inlet volumes - Badlands' at . Compared to the current estimate, the company reported in the same quarter of the previous year.Analysts forecast 'Gathering and Processing - Plant natural gas inlet volumes - Coastal' to reach . The estimate is in contrast to the year-ago figure of .According to the collective judgment of analysts, 'Gathering and Processing - Plant natural gas inlet volumes - North Texas' should come in at . The estimate compares to the year-ago value of . View all Key Company Metrics for Targa Resources here>>> Shares of Targa Resources have demonstrated returns of -6.1% over the past month compared to the Zacks S&P 500 composite's +0.6% change. 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 >>>> .Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Targa Resources, Inc. (TRGP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks