Korea Investment CORP Takes $35.82 Million Position in Targa Resources, Inc. $TRGP

Korea Investment CORP purchased a new position in shares of Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 133,597 shares of the pipeline company’s stock, valued at approximately $35,823,000. Korea Investment CORP owned about 0.06% of Targa Resources as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TRGP. CoreCap Advisors LLC grew its stake in Targa Resources by 245.9% in the 2nd quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 91 shares during the last quarter. Virtus Advisers LLC acquired a new position in Targa Resources during the second quarter worth about $35,000. Atlantic Union Bankshares Corp acquired a new position in Targa Resources during the fourth quarter worth about $27,000. Miller Capital Partners Inc. acquired a new position in Targa Resources during the fourth quarter worth about $30,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of Targa Resources in the first quarter valued at about $41,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Stock Down 0.7%

Shares of NYSE:TRGP opened at $300.01 on Friday. The stock’s 50-day moving average price is $271.98 and its two-hundred day moving average price is $254.10. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01. Targa Resources, Inc. has a 12-month low of $144.14 and a 12-month high of $307.94. The firm has a market cap of $64.33 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.44 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 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.71. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. On average, research analysts forecast that Targa Resources, Inc. will post 11.13 EPS for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is currently 47.80%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Targa Resources from $310.00 to $312.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Barclays upped their target price on Targa Resources from $282.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Stifel Nicolaus set a $268.00 price target on Targa Resources in a research report on Friday, May 8th. Raymond James Financial set a $335.00 price target on Targa Resources in a research report on Friday, August 7th. Finally, Scotiabank boosted their price target on Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Targa Resources currently has an average rating of “Buy” and an average target price of $297.18.

Targa Resources News Summary

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

• Positive Sentiment: Long-term ExxonMobil contracts strengthen growth visibility. Targa secured 20-year, fee-based agreements with ExxonMobil covering the Permian Delaware and Midland basins. The arrangements support new processing and takeaway infrastructure through 2046, potentially improving cash-flow visibility and extending Targa’s Permian growth runway. Targa Resources Secures 20-Year Deal With ExxonMobil
• Positive Sentiment: Jefferies initiated or reiterated a Buy rating. The endorsement provides additional analyst support for TRGP’s long-term growth and infrastructure outlook. Targa Resources Gets a Buy from Jefferies
• Neutral Sentiment: Higher capital spending raises execution risk. The ExxonMobil-related infrastructure buildout could create meaningful future growth, but increased 2026 spending may pressure near-term free cash flow and heighten construction and execution demands. How Targa’s ExxonMobil Deal Could Extend Its Permian Growth Runway
• Negative Sentiment: US Capital Advisors reduced multiple EPS forecasts. The firm cut estimates for late 2026, all quarters of 2027, FY2027 EPS from $11.75 to $11.05, and FY2028 EPS from $13.42 to $12.73. Although it maintained a “Moderate Buy” rating, the revisions suggest expectations for slower earnings growth.
• Negative Sentiment: Premium valuation may limit upside. TRGP is trading close to its 52-week high following an approximately 85% rally, while heavy spending and potentially moderating marketing gains have raised questions about whether the current valuation fully reflects future growth. Targa Resources’ Stock Near 52-Week High

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.