Freestone Grove Partners LP Takes $12.67 Million Position in Targa Resources, Inc. $TRGP

Posted by Brian Himes on Aug 28th, 2026

Freestone Grove Partners LP bought a new position in Targa Resources, Inc. (NYSE:TRGP – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 47,266 shares of the pipeline company’s stock, valued at approximately $12,674,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TRGP. Norges Bank acquired a new stake in shares of Targa Resources during the 4th quarter worth approximately $735,758,000. Legal & General Group Plc acquired a new position in shares of Targa Resources in the 2nd quarter valued at $336,575,000. Goldman Sachs Group Inc. lifted its stake in shares of Targa Resources by 48.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,290,099 shares of the pipeline company’s stock valued at $607,023,000 after purchasing an additional 1,075,246 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Targa Resources during the second quarter worth $275,702,000. Finally, Hsbc Holdings PLC acquired a new stake in Targa Resources during the second quarter valued at $274,660,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Stock Down 1.5%

Shares of NYSE TRGP opened at $289.49 on Friday. The company’s 50-day simple moving average is $274.46 and its 200-day simple moving average is $256.89. Targa Resources, Inc. has a 52-week low of $144.14 and a 52-week high of $307.94. The firm has a market cap of $62.07 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.40 and a beta of 0.72. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01.

Targa Resources (NYSE:TRGP – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. Equities analysts predict that Targa Resources, Inc. will post 11.2 EPS for the current fiscal year.

Targa Resources Announces Dividend

The company also recently disclosed 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. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, July 31st. Targa Resources’s payout ratio is 47.80%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TRGP. Raymond James Financial set a $335.00 price objective on shares of Targa Resources in a research report on Friday, August 7th. TD Cowen raised their target price on Targa Resources from $270.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Jefferies Financial Group lifted their price target on Targa Resources from $324.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada upped their price target on Targa Resources from $312.00 to $338.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Mizuho increased their price target on Targa Resources from $260.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $298.71.

Read Our Latest Stock Report on TRGP

Insider Buying and Selling

In other news, Director Waters S. Iv Davis sold 2,400 shares of Targa Resources stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $299.67, for a total value of $719,208.00. Following the sale, the director directly owned 1,529 shares of the company’s stock, valued at $458,195.43. The trade was a 61.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles R. Crisp sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the sale, the director owned 62,292 shares of the company’s stock, valued at $18,079,007.16. The trade was a 4.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.37% of the stock is owned by corporate insiders.

About Targa Resources

(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.