Jennifer Kneale Sells 29,509 Shares of Targa Resources (NYSE:TRGP) Stock

Targa Resources, Inc. (NYSE:TRGP) President Jennifer Kneale sold 29,509 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $230.12, for a total value of $6,790,611.08. Following the completion of the sale, the president directly owned 235,260 shares of the company’s stock, valued at approximately $54,138,031.20. This represents a 11.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Targa Resources Stock Performance

Shares of Targa Resources stock opened at $231.20 on Friday. The company has a 50 day moving average price of $198.60 and a 200 day moving average price of $177.35. The firm has a market capitalization of $49.70 billion, a P/E ratio of 26.92, a PEG ratio of 0.99 and a beta of 0.88. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $234.41.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. Sell-side analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.7%. Targa Resources’s dividend payout ratio is currently 46.57%.

Targa Resources News Roundup

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

• Positive Sentiment: Multiple analyst upgrades and a higher price target (Citi raised its target to $262 from $200) — these upgrades lift investor expectations and help push the stock higher. Citi raises TRGP price target
• Positive Sentiment: Targa announced a 25% dividend hike and is advancing Permian buildout plans — the larger payout and growth investment reframe the company toward income + growth, attracting yield‑oriented and growth investors. Dividend hike and Permian buildout
• Positive Sentiment: Q4 results showed an EPS beat ($2.51 vs. $2.35 consensus) despite a slight revenue miss — earnings upside supports valuation and analyst optimism. Quarterly results summary
• Neutral Sentiment: Targa priced a $1.5 billion senior notes offering: $750M 4.350% due 2031 and $750M 6.050% due 2056 (expected close March 2). This secures long‑dated financing and liquidity for growth/refinancing but increases gross debt on a company that already runs high leverage, making the net impact mixed. Senior notes offering details
• Negative Sentiment: Insider selling by senior managers: President Jennifer Kneale sold ~29,509 shares (~11.15% reduction) and Director Charles Crisp sold 1,359 shares — material insider sales can signal near‑term liquidity/tax actions but are often interpreted negatively by the market. Insider selling details

Hedge Funds Weigh In On Targa Resources

Several institutional investors and hedge funds have recently modified their holdings of TRGP. Alps Advisors Inc. grew its position in shares of Targa Resources by 5.5% in the 3rd quarter. Alps Advisors Inc. now owns 143,904 shares of the pipeline company’s stock valued at $24,110,000 after buying an additional 7,497 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Targa Resources by 137.9% in the third quarter. Commonwealth Equity Services LLC now owns 66,636 shares of the pipeline company’s stock valued at $11,164,000 after acquiring an additional 38,626 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Targa Resources by 2.4% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 682,300 shares of the pipeline company’s stock valued at $114,313,000 after acquiring an additional 16,000 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Targa Resources by 5.0% during the third quarter. Envestnet Asset Management Inc. now owns 484,462 shares of the pipeline company’s stock worth $81,167,000 after purchasing an additional 22,969 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Targa Resources by 13.5% during the third quarter. Nordea Investment Management AB now owns 146,368 shares of the pipeline company’s stock worth $24,325,000 after purchasing an additional 17,457 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Scotiabank reissued an “outperform” rating on shares of Targa Resources in a research report on Tuesday. The Goldman Sachs Group restated a “buy” rating and set a $242.00 target price on shares of Targa Resources in a research report on Friday, February 20th. Royal Bank Of Canada upped their price target on shares of Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, December 3rd. Barclays reiterated an “overweight” rating and set a $226.00 price objective on shares of Targa Resources in a research note on Friday, February 20th. Finally, TD Cowen upped their target price on Targa Resources from $192.00 to $220.00 and gave the stock a “hold” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Targa Resources has an average rating of “Moderate Buy” and a consensus target price of $235.50.

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.