Wall Street analysts forecast that Targa Resources, Inc. (TRGP) will report quarterly earnings of $1.88 per share in its upcoming release, pointing to a year-over-year increase of 52.9%. It is anticipated that revenues will amount to $4.08 billion, exhibiting a decline of 3.8% compared to the year-ago quarter.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

With that in mind, let's delve into the average projections of some Targa Resources metrics that are commonly tracked and projected by analysts on Wall Street.

It is projected by analysts that the 'Gathering and Processing - NGL sales per day' will reach 587.12 millions of barrels of oil. The estimate is in contrast to the year-ago figure of 520.6 millions of barrels of oil.

The consensus estimate for 'Gathering and Processing - Gross NGL production - Coastal' stands at 31.45 millions of barrels of oil per day. Compared to the current estimate, the company reported 43.2 millions of barrels of oil per day in the same quarter of the previous year.

The combined assessment of analysts suggests that 'Gathering and Processing - Condensate sales per day' will likely reach 19.60 millions of barrels of oil. The estimate compares to the year-ago value of 17.8 millions of barrels of oil.

The average prediction of analysts places 'Logistics and Marketing - NGL sales' at 1,160.50 millions of barrels of oil per day. Compared to the present estimate, the company reported 1125.8 millions of barrels of oil per day in the same quarter last year.

Analysts' assessment points toward 'Logistics and Marketing - Export volumes' reaching 428.49 millions of barrels of oil per day. Compared to the current estimate, the company reported 434.5 millions of barrels of oil per day in the same quarter of the previous year.

The consensus among analysts is that 'Logistics and Marketing - Fractionation volumes' will reach 1,022.88 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 844.8 millions of barrels of oil per day.

Analysts predict that the 'Gathering and Processing - Total Plant natural gas inlet volumes' will reach 7,774.50 millions of cubic feet per day. The estimate is in contrast to the year-ago figure of 7108.2 millions of cubic feet per day.

Based on the collective assessment of analysts, 'Gathering and Processing - Total Gross NGL production' should arrive at 991.44 millions of barrels of oil per day. Compared to the current estimate, the company reported 881.7 millions of barrels of oil per day in the same quarter of the previous year.

The collective assessment of analysts points to an estimated 'Gathering and Processing - Average realized prices - Condensate' of $72.29. The estimate is in contrast to the year-ago figure of $74.79.

According to the collective judgment of analysts, 'Gathering and Processing - Plant natural gas inlet volumes - Badlands' should come in at 141.61 millions of cubic feet per day. Compared to the current estimate, the company reported 131.2 millions of cubic feet per day in the same quarter of the previous year.

Analysts forecast 'Gathering and Processing - Plant natural gas inlet volumes - Coastal' to reach 394.78 millions of cubic feet per day. Compared to the present estimate, the company reported 567 millions of cubic feet per day in the same quarter last year.

Analysts expect 'Gathering and Processing - Plant natural gas inlet volumes - North Texas' to come in at 176.85 millions of cubic feet per day. Compared to the present estimate, the company reported 207.7 millions of cubic feet per day in the same quarter last year.

View all Key Company Metrics for Targa Resources here>>>

Over the past month, Targa Resources shares have recorded returns of -4% versus the Zacks S&P 500 composite's +4.9% change. Based on its Zacks Rank #3 (Hold), TRGP will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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