Targa Resources (NYSE:TRGP) Price Target Raised to $275.00

Targa Resources (NYSE:TRGP) had its target price lifted by equities research analysts at TD Cowen from $270.00 to $275.00 in a research report issued on Friday. The firm currently has a “hold” rating on the pipeline company’s stock. TD Cowen’s target price would suggest a potential upside of 2.94% from the company’s previous close.

A number of other research firms have also recently issued reports on TRGP. The Goldman Sachs Group boosted their price objective on Targa Resources from $242.00 to $268.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Scotiabank lifted their price target on shares of Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Raymond James Financial reissued a “strong-buy” rating on shares of Targa Resources in a report on Friday. Wells Fargo & Company increased their price objective on shares of Targa Resources from $264.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group set a $324.00 price objective on shares of Targa Resources in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and a consensus price target of $292.00.

Targa Resources Price Performance

NYSE:TRGP opened at $267.14 on Friday. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.72 and a quick ratio of 0.62. Targa Resources has a one year low of $144.14 and a one year high of $291.04. The company has a fifty day moving average price of $268.80 and a 200 day moving average price of $247.87. The stock has a market cap of $57.34 billion, a P/E ratio of 27.01, a PEG ratio of 1.32 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. Analysts anticipate that Targa Resources will post 10.84 earnings per share for the current year.

Insider Buying and Selling at Targa Resources

In related news, Director Charles R. Crisp sold 10,602 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the sale, the director owned 66,492 shares in the company, valued at $17,019,292.32. This trade represents a 13.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Trading of Targa Resources

Several hedge funds have recently modified their holdings of TRGP. State Street Corp raised its stake in shares of Targa Resources by 1.3% in the fourth quarter. State Street Corp now owns 12,668,233 shares of the pipeline company’s stock valued at $2,337,289,000 after acquiring an additional 162,878 shares during the last quarter. Geode Capital Management LLC raised its position in Targa Resources by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 5,867,345 shares of the pipeline company’s stock valued at $1,078,497,000 after purchasing an additional 45,495 shares during the last quarter. Norges Bank bought a new position in Targa Resources in the 4th quarter valued at $735,758,000. Tortoise Capital Advisors L.L.C. boosted its stake in Targa Resources by 20.3% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 3,389,006 shares of the pipeline company’s stock worth $625,272,000 after purchasing an additional 572,562 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Targa Resources by 48.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,290,099 shares of the pipeline company’s stock worth $607,023,000 after purchasing an additional 1,075,246 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

More Targa Resources News

Here are the key news stories impacting Targa Resources this week:

• Positive Sentiment: Earnings significantly exceeded expectations. Second-quarter adjusted earnings were $3.54 per share, above the $2.83 analyst consensus and up from $2.87 a year earlier. Net income attributable to Targa rose 22% year over year to $765 million. Targa Resources Q2 Earnings Top Estimates
• Positive Sentiment: Record operating performance improved the outlook. Adjusted EBITDA reached $1.603 billion, up 38% year over year and 14% sequentially. Targa now expects full-year 2026 adjusted EBITDA toward the top of its $5.7 billion-$5.9 billion guidance range. Targa beats second-quarter profit estimates
• Positive Sentiment: Volume growth and new infrastructure supported results. Permian inlet volumes increased 14% year over year, while NGL transportation, fractionation and export volumes reached records. Targa also brought its Train 11 fractionator, Delaware Express NGL Pipeline expansion and East Driver processing plant online, with East Driver starting ahead of schedule.
• Positive Sentiment: Shareholder returns increased. The quarterly dividend was raised 25% year over year to $1.25 per share, and Targa repurchased $80 million of stock during the quarter. Targa Resources Reports Record Q2 Results
• Neutral Sentiment: Revenue was mixed. Quarterly revenue of $4.44 billion increased 4% year over year but fell short of the $4.90 billion analyst estimate. Lower natural-gas prices and unfavorable hedge impacts pressured commodity sales, although fee-based midstream revenue rose 36%.
• Negative Sentiment: Leverage and spending remain risks. Targa reported approximately $19.6 billion of consolidated debt and plans roughly $4.5 billion in 2026 growth capital expenditures. Lower gas prices, rising depreciation and operating costs, and temporary producer curtailments caused by negative Waha prices could weigh on future results.

About Targa Resources

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.