TD Cowen Issues Positive Forecast for Targa Resources (NYSE:TRGP) Stock Price

Posted by Brenda Bartman on Aug 8th, 2026

Targa Resources (NYSE:TRGP – Free Report) had its price target raised by TD Cowen from $270.00 to $275.00 in a report released on Friday, MarketBeat.com reports. TD Cowen currently has a hold rating on the pipeline company’s stock.

TRGP has been the topic of several other reports. Wells Fargo & Company upped their price target on Targa Resources from $264.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Scotiabank boosted their target price on shares of Targa Resources from $249.00 to $257.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. UBS Group reissued a “buy” rating and set a $318.00 target price on shares of Targa Resources in a report on Thursday, July 9th. Raymond James Financial restated a “strong-buy” rating on shares of Targa Resources in a research report on Friday. Finally, US Capital Advisors lowered shares of Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $295.24.

Read Our Latest Stock Analysis on TRGP

Targa Resources Stock Down 4.1%

NYSE:TRGP opened at $257.25 on Friday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.62 and a current ratio of 0.72. The company has a market capitalization of $55.22 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 1.36 and a beta of 0.72. Targa Resources has a one year low of $144.14 and a one year high of $291.04. The stock has a 50-day simple moving average of $268.84 and a 200 day simple moving average of $247.93.

Targa Resources (NYSE:TRGP – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.71. Targa Resources had a return on equity of 73.14% and a net margin of 13.55%.The firm had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Sell-side analysts predict that Targa Resources will post 10.83 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $1.25 per share. The ex-dividend date is Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. Targa Resources’s payout ratio is currently 50.56%.

Insider Buying and Selling

In related news, Director Charles R. Crisp sold 10,602 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the transaction, the director directly owned 66,492 shares in the company, valued at $17,019,292.32. This represents a 13.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Targa Resources

Several hedge funds and other institutional investors have recently modified their holdings of TRGP. CoreCap Advisors LLC lifted its position 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 purchasing an additional 91 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Targa Resources in the 4th quarter worth approximately $27,000. Miller Capital Partners Inc. acquired a new stake in Targa Resources in the fourth quarter worth approximately $30,000. Global Assets Advisory LLC bought a new position in Targa Resources during the first quarter valued at about $41,000. Finally, Leonteq Securities AG bought a new position in shares of Targa Resources during the 4th quarter valued at about $31,000. 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: Strong Q2 earnings and guidance: Targa reported adjusted EBITDA of $1.603 billion, up 38% year over year, while EPS of $3.54 exceeded the $2.83 consensus estimate. Management now expects full-year adjusted EBITDA toward the high end of its $5.7 billion–$5.9 billion range. Reuters article
Positive Sentiment: Volume growth and project execution: Record Permian inlet volumes, NGL transportation, fractionation and LPG exports supported results. Targa also brought its Train 11 fractionator, Delaware Express expansion and East Driver processing plant online, with East Driver starting ahead of schedule.
Positive Sentiment: Shareholder returns and analyst support: Targa raised its quarterly dividend 25% to $1.25 per share and repurchased $80 million of stock. Wells Fargo raised its price target to $282 and assigned an “overweight” rating; TD Cowen lifted its target to $275, although it maintained a “hold” rating. Benzinga article
Neutral Sentiment: Revenue performance was mixed: Quarterly revenue rose 4% to $4.44 billion but fell short of the $4.90 billion analyst forecast. Lower natural-gas prices and unfavorable hedge impacts limited commodity-sales growth, while higher fee-based midstream revenue helped offset the weakness.
Negative Sentiment: Commodity and balance-sheet risks remain: Negative Waha natural-gas prices in the Permian, higher operating and depreciation expenses, approximately $19.6 billion of debt and planned 2026 growth capital spending of about $4.5 billion may concern investors. The stock’s recent decline suggests the strong earnings beat and guidance raise were not enough to overcome those concerns.

About Targa Resources

(Get Free Report)

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.