Targa Resources, Inc. (TRGP) – What Are Analysts Thinking About This Stock?

Shares of Targa Resources, Inc. (NYSE:TRGP) have been given an average rating of “Buy” by the twenty-two ratings firms that are presently covering the company, Marketbeat Ratings reports. Twenty research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $326.37.

A number of brokerages recently commented on TRGP. Royal Bank Of Canada increased their price target on Targa Resources from $312.00 to $338.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Wells Fargo & Company lifted their price objective on Targa Resources from $324.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday. Wolfe Research set a $335.00 target price on Targa Resources in a research report on Friday, August 7th. BMO Capital Markets increased their target price on Targa Resources from $303.00 to $328.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $345.00 price target (up from $312.00) on shares of Targa Resources in a report on Monday, September 21st.

Key Targa Resources News

These are some of the TRGP news items that stood out recently:

• Positive Sentiment: Targa’s Q3 earnings beat estimates, with record Permian volumes and higher fees supporting growth. The company also raised its full-year EBITDA outlook, signaling stronger expected performance. TRGP Q3 Earnings Beat on Permian Growth and Higher Fees
• Positive Sentiment: Morgan Stanley reiterated its Buy view and raised its price target to $362 from $359, while Scotiabank lifted its target to $325 from $319 and maintained an outperform rating—both signaling further potential upside in analysts’ assessments. Morgan Stanley price-target update Scotiabank price-target update
• Positive Sentiment: The earnings call was characterized as signaling durable growth, reinforcing the view that recent operating momentum may persist. Targa Resources earnings-call highlights

Insider Transactions at Targa Resources

In other news, Director Paul W. Chung sold 1,816 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $296.11, for a total transaction of $537,735.76. Following the transaction, the director owned 44,000 shares of the company’s stock, valued at approximately $13,028,840. This trade represents a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Waters S. Iv 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 of the company’s stock, valued at $458,195.43. This trade represents a 61.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 7,216 shares of company stock valued at $2,127,634. Insiders own 1.37% of the company’s stock.

Institutional Trading of Targa Resources

Several institutional investors and hedge funds have recently bought and sold shares of TRGP. First Eagle Investment Management LLC increased its holdings in shares of Targa Resources by 381.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 101 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 80 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Targa Resources during the 2nd quarter valued at approximately $32,000. Compass Financial Management LLC bought a new position in Targa Resources during the second quarter worth $33,000. CoreCap Advisors LLC lifted its stake in Targa Resources by 245.9% during the second quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Finally, Virtus Advisers LLC bought a new position in Targa Resources during the second quarter worth $35,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Up 3.6%

Shares of NYSE:TRGP opened at $291.36 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.74 and a debt-to-equity ratio of 4.87. Targa Resources has a 52-week low of $166.18 and a 52-week high of $316.60. The company has a 50 day moving average of $288.65 and a two-hundred day moving average of $262.71. The company has a market capitalization of $62.51 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.15 and a beta of 0.76.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, November 5th. The pipeline company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.30. Targa Resources had a net margin of 13.45% and a return on equity of 68.83%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $4.77 billion. As a group, analysts forecast that Targa Resources will post 11.55 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Friday, October 30th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. Targa Resources’s payout ratio is presently 44.25%.

About Targa Resources

Targa Resources Corp. is a midstream energy company that gathers, processes, transports and stores natural gas and natural gas liquids (NGLs), and provides services for crude oil. Its infrastructure connects oil and gas producers with pipelines, processing facilities, fractionators, storage sites and domestic and international markets. The company’s services include natural gas gathering, compression and processing; NGL transportation and fractionation; and crude oil gathering and terminaling. Targa also operates facilities that support the export of NGLs and liquefied petroleum gas products.