Tag: DividendPaying

This Dividend-Paying Energy Stock Thinks Its Shares Are Dirt Cheap

This year has been a bit of a whirlwind for Targa Resources (NYSE:TRGP). Like most energy companies, the midstream service provider made drastic changes as oil prices plunged earlier this year, slashing both its dividend and capital spending program to shore up its balance sheet. That put a lot of pressure on its stock price, which has plummetted nearly 65% this year.

However, the company thinks the sell-off is overdone, especially given the significant improvement in its financial profile and market conditions. That led it to authorize a $500 million stock repurchase program to gobble up a meaningful amount of its beaten-down shares. 

People making calculations with a stock chart in the foreground.

Image source: Getty Images.

Bouncing back faster than anticipated

Targa Resources recently provided investors with an update to its outlook for 2020. The midstream company noted that despite the impacts and uncertainties caused by COVID-19, its “overall business performance has been strong.” That leads it

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3 Cheap, Dividend-Paying Stocks Under $10 to Buy on Market Pullback

All three major U.S. indexes tumbled on Thursday, helping spoil a recent run that lifted the S&P 500 and Nasdaq to new records, while the Dow climbed above 29,000 for the first time since February on Wednesday. The pullback was driven by selling in coronavirus stars like Tesla TSLA, Apple, and Zoom ZM.

Stocks have faced declines even during the historic run off the market’s bottom in late March. And Thursday’s selloff seemed due and even healthy. Recent economic data has been solid, although a little disappointing ahead of Friday’s big releases on jobs and unemployment. Meanwhile, Wall Street is starting to get anxious about when the next round of stimulus will be passed, as millions of Americans remain out of work due to no fault of their own.

That said, the third quarter earnings outlook has improved and there should be enough political pressure on both sides to get

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