Surging Earnings Estimates Signal Good News for Targa Resources Partners (NGLS)

Targa Resources Partners LP (NGLS), the provider of midstream energy assets 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 NGLS’ 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 NGLS

In the past 30 days, 4 estimates have gone higher for Targa Resources compared to no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 33 cents a share 30 days ago, to 44 cents today, a move of 25%.

Current Year Estimates for NGLS

Meanwhile, Targa Resources’ current year figures are also looking quite promising, with 6 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.46 per share 30 days ago to $1.81 per share today, an increase of 24%.

Bottom Line

The stock has also started to move higher lately, adding 11.6% 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 #2 (Buy) stock to profit in the near future.

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TARGA RESOURCES PARTNERS LP (NGLS): Free Stock Analysis Report


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