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Reports Net Income: Midstream operator Targa Resources Corp. (TRGP - Free Report) reported adjusted net income of $705 million compared to a net loss of $38.9 million in the year-ago period. The improved results came on the back of strong volume growth.
Estimate Revision Trend & Surprise History: The stock had seen the Zacks Consensus Estimate for first-quarter earnings remain same over the last 7 days.
Coming to earnings surprise history, the Houston, TX-based energy infrastructure provider beat estimates on two occasions and missed twice, delivering an average positive surprise of 44.15%. This is depicted in the graph below:
Revenues Miss: Revenues of $2 billion were came below the Zacks Consensus Estimate of $2.2 billion.
Key Stats: Gathering and Processing segment recorded operating margin of $255.7 million during the quarter, up 7% from the $238.3 million achieved in the year-ago period.
In the Logistics and Transportation segment, the company reported operating margin of $294 million, surging 93.2% year over year.
Meanwhile, distributable cash flow came in at $301.9 million, compared to $187 millionin the first quarter of 2019.
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Strong Volume Growth Buoys Targa Resources (TRGP) Q1 Earnings
Reports Net Income: Midstream operator Targa Resources Corp. (TRGP - Free Report) reported adjusted net income of $705 million compared to a net loss of $38.9 million in the year-ago period. The improved results came on the back of strong volume growth.
Estimate Revision Trend & Surprise History: The stock had seen the Zacks Consensus Estimate for first-quarter earnings remain same over the last 7 days.
Coming to earnings surprise history, the Houston, TX-based energy infrastructure provider beat estimates on two occasions and missed twice, delivering an average positive surprise of 44.15%. This is depicted in the graph below:
Targa Resources Inc Price and EPS Surprise
Targa Resources Inc price-eps-surprise | Targa Resources Inc Quote
Revenues Miss: Revenues of $2 billion were came below the Zacks Consensus Estimate of $2.2 billion.
Key Stats: Gathering and Processing segment recorded operating margin of $255.7 million during the quarter, up 7% from the $238.3 million achieved in the year-ago period.
In the Logistics and Transportation segment, the company reported operating margin of $294 million, surging 93.2% year over year.
Meanwhile, distributable cash flow came in at $301.9 million, compared to $187 millionin the first quarter of 2019.
Zacks Rank: Currently, Targa Resources carries a Zacks Rank #3 (Hold).
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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