Targa Resources, Inc. (NYSE:TRGP – Free Report) – Investment analysts at Erste Group Bank upped their FY2026 earnings estimates for shares of Targa Resources in a research note issued on Thursday, August 27th. Erste Group Bank analyst H. Engel now anticipates that the pipeline company will post earnings of $11.19 per share for the year, up from their prior estimate of $10.94. Erste Group Bank currently has a “Buy” rating on the stock. The consensus estimate for Targa Resources’ current full-year earnings is $11.23 per share.
Several other analysts have also issued reports on TRGP. Royal Bank Of Canada upped their target price on Targa Resources from $312.00 to $338.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Citigroup reissued a “buy” rating on shares of Targa Resources in a research note on Wednesday, May 27th. TD Cowen boosted their price objective on shares of Targa Resources from $270.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Wolfe Research set a $335.00 price objective on shares of Targa Resources in a research note on Friday, August 7th. 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 research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $298.71.
Targa Resources Stock Performance
Shares of NYSE TRGP opened at $294.50 on Monday. The stock has a market cap of $63.15 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.37 and a beta of 0.72. 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 has a 1-year low of $144.14 and a 1-year high of $307.94. The stock’s 50-day moving average is $275.67 and its 200 day moving average is $257.93.
Targa Resources (NYSE:TRGP – Get Free Report) last released its earnings results 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 business had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%.
Institutional Investors Weigh In On Targa Resources
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hardy Reed LLC grew its holdings in Targa Resources by 1.0% in the 1st quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company’s stock worth $1,083,000 after acquiring an additional 41 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Targa Resources by 4.1% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the pipeline company’s stock valued at $307,000 after acquiring an additional 45 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of Targa Resources by 2.3% during the second quarter. Premier Path Wealth Partners LLC now owns 2,003 shares of the pipeline company’s stock valued at $537,000 after acquiring an additional 45 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Targa Resources by 10.5% during the fourth quarter. Hantz Financial Services Inc. now owns 526 shares of the pipeline company’s stock worth $97,000 after purchasing an additional 50 shares during the period. Finally, River Wealth Advisors LLC boosted its holdings in shares of Targa Resources by 0.3% during the second quarter. River Wealth Advisors LLC now owns 19,457 shares of the pipeline company’s stock worth $5,217,000 after purchasing an additional 50 shares during the period. 92.13% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Targa Resources news, Director Waters S. Iv Davis sold 2,400 shares of the business’s 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 completion of the sale, the director owned 1,529 shares in the company, valued at approximately $458,195.43. The trade was a 61.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles R. Crisp sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total value of $870,690.00. Following the sale, the director directly owned 62,292 shares of the company’s stock, valued at approximately $18,079,007.16. This trade represents a 4.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.37% of the stock is owned by insiders.
Targa Resources Announces Dividend
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 $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, July 31st. Targa Resources’s payout ratio is 47.80%.
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.
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