The upcoming report from Targa Resources, Inc. (TRGP) is expected to reveal quarterly earnings of $1.88 per share, indicating an increase of 52.9% compared to the year-ago period. Analysts forecast revenues of $4.08 billion, representing a decrease of 3.8% year over year.

The consensus EPS estimate for the quarter has undergone a downward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

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 a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Bearing this in mind, let's now explore the average estimates of specific Targa Resources metrics that are commonly monitored and projected by Wall Street analysts.

The consensus estimate for 'Gathering and Processing - NGL sales per day' stands at 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.

According to the collective judgment of analysts, 'Gathering and Processing - Gross NGL production - Coastal' should come in at 31.45 millions of barrels of oil per day. Compared to the present estimate, the company reported 43.2 millions of barrels of oil per day in the same quarter last year.

Analysts predict that the 'Gathering and Processing - Condensate sales per day' will 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. The estimate is in contrast to the year-ago figure of 1125.8 millions of barrels of oil per day.

The combined assessment of analysts suggests that 'Logistics and Marketing - Export volumes' will likely reach 428.49 millions of barrels of oil per day. The estimate compares to the year-ago value of 434.5 millions of barrels of oil per day.

Analysts forecast 'Logistics and Marketing - Fractionation volumes' to reach 1,022.88 millions of barrels of oil per day. Compared to the current estimate, the company reported 844.8 millions of barrels of oil per day in the same quarter of the previous year.

Analysts expect 'Gathering and Processing - Total Plant natural gas inlet volumes' to come in at 7,774.50 millions of cubic feet per day. Compared to the present estimate, the company reported 7108.2 millions of cubic feet per day in the same quarter last year.

Analysts' assessment points toward 'Gathering and Processing - Total Gross NGL production' reaching 991.44 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 881.7 millions of barrels of oil per day.

Based on the collective assessment of analysts, 'Gathering and Processing - Average realized prices - Condensate' should arrive at $72.29. Compared to the current estimate, the company reported $74.79 in the same quarter of the previous year.

The collective assessment of analysts points to an estimated 'Gathering and Processing - Plant natural gas inlet volumes - Badlands' of 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.

The consensus among analysts is that 'Gathering and Processing - Plant natural gas inlet volumes - Coastal' will 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.

It is projected by analysts that the 'Gathering and Processing - Plant natural gas inlet volumes - North Texas' will reach 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, shares of Targa Resources have returned -4.8% versus the Zacks S&P 500 composite's +4.7% change. Currently, TRGP carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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