Targa Resources, Inc. $TRGP Holdings Lifted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its position in Targa Resources, Inc. (NYSE:TRGP) by 224.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,661 shares of the pipeline company’s stock after purchasing an additional 2,532 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Targa Resources were worth $990,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in shares of Targa Resources by 238.0% in the 2nd quarter. Tidal Investments LLC now owns 41,741 shares of the pipeline company’s stock valued at $11,192,000 after buying an additional 29,390 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Targa Resources in the second quarter worth about $100,442,000. Hsbc Holdings PLC boosted its stake in shares of Targa Resources by 7.0% in the fourth quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company’s stock worth $151,331,000 after buying an additional 53,413 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in Targa Resources by 37.3% during the first quarter. Miller Howard Investments Inc. NY now owns 230,592 shares of the pipeline company’s stock worth $57,816,000 after acquiring an additional 62,652 shares during the period. Finally, Nykredit A S acquired a new stake in Targa Resources during the second quarter worth about $33,314,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TRGP shares. Capital One Financial lifted their price target on Targa Resources from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, September 22nd. Stifel Nicolaus set a $335.00 price target on Targa Resources in a report on Friday, October 9th. Royal Bank Of Canada upped their price objective on Targa Resources from $312.00 to $338.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $322.00 price objective on shares of Targa Resources in a research note on Tuesday. Finally, Barclays raised their price objective on shares of Targa Resources from $284.00 to $294.00 and gave the stock an “overweight” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $317.75.

Insider Activity at Targa Resources

In related news, Director S Davis sold 2,400 shares of Targa Resources stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $299.67, for a total value of $719,208.00. Following the completion of the transaction, the director owned 1,529 shares in the company, valued at $458,195.43. The trade was a 61.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Crisp sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the completion of the transaction, the director directly owned 62,292 shares of the company’s stock, valued at $18,079,007.16. The trade was a 4.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 7,216 shares of company stock worth $2,127,634 in the last 90 days. Corporate insiders own 1.37% of the company’s stock.

Targa Resources News Summary

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

• Positive Sentiment: Jefferies maintains a constructive outlook on Targa Resources, lowering its price target to $326 from $345 while retaining implied upside from recent trading levels. The reduced target, however, suggests more cautious expectations than before. Jefferies Adjusts Targa Resources Price Target
• Positive Sentiment: Erste Group raised its fiscal 2027 earnings estimate for TRGP to $12.31 per share from $12.20 and maintained a “Buy” rating, indicating improving longer-term profit expectations. Erste Group Raises Targa Resources Earnings Estimate
• Positive Sentiment: Targa declared a quarterly dividend of $1.25 per share, or $5.00 annualized, representing an approximately 1.7% yield. The dividend supports shareholder returns and may reinforce confidence in cash generation. The ex-dividend date is October 30, with payment scheduled for November 17. Targa Resources Declares Quarterly Dividend
• Positive Sentiment: Zacks identified TRGP as a top-ranked momentum stock, while a Citigroup analyst reportedly expects the shares to rise. These ratings provide additional technical and analyst support, although they are not guarantees of future performance. Zacks Momentum Stock Rating
• Negative Sentiment: The primary near-term pressure is Jefferies’ $19 price-target reduction. Although the new target remains above recent levels, the cut can signal moderating valuation expectations and likely contributed to selling pressure in TRGP. Targa Resources Intraday Trading Report

Targa Resources Stock Down 2.9%

TRGP opened at $282.35 on Friday. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $307.94. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77. The company has a fifty day moving average of $285.49 and a two-hundred day moving average of $269.82. The stock has a market capitalization of $60.54 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 1.36 and a beta of 0.80.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. On average, research analysts expect that Targa Resources, Inc. will post 11.38 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, October 30th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 30th. Targa Resources’s payout ratio is currently 47.80%.

Targa Resources Company Profile

Targa Resources Corp. (NYSE: TRGP) is a Houston-based midstream energy company that owns, operates and develops infrastructure for gathering, processing, transporting, storing and exporting natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products. Its operations connect producers with domestic and international markets across key U.S. energy-producing regions.

The company’s assets include natural gas gathering and processing systems, NGL pipelines, fractionation facilities, storage assets and export terminals.