Targa Resources (NYSE:TRGP) Upgraded at Truist Financial

Truist Financial upgraded shares of Targa Resources (NYSE:TRGP) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

TRGP has been the topic of a number of other reports. Weiss Ratings upgraded Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 29th. Mizuho raised their price target on Targa Resources from $207.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Scotiabank reiterated an “outperform” rating on shares of Targa Resources in a report on Tuesday, February 24th. Royal Bank Of Canada boosted their price objective on shares of Targa Resources from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Finally, Morgan Stanley upped their price objective on shares of Targa Resources from $266.00 to $298.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.57.

Targa Resources Stock Performance

Targa Resources stock opened at $245.15 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21. The firm has a market cap of $52.69 billion, a P/E ratio of 28.54, a P/E/G ratio of 1.61 and a beta of 0.84. Targa Resources has a 1-year low of $144.14 and a 1-year high of $250.00. The firm has a 50-day moving average of $220.50 and a 200-day moving average of $187.35.

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

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, January 30th. Targa Resources’s dividend payout ratio (DPR) is presently 46.57%.

Insiders Place Their Bets

In related news, insider D. Scott Pryor sold 17,500 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $228.92, for a total value of $4,006,100.00. Following the completion of the transaction, the insider directly owned 31,938 shares in the company, valued at $7,311,246.96. This trade represents a 35.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles R. Crisp sold 1,359 shares of Targa Resources stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $229.30, for a total transaction of $311,618.70. Following the transaction, the director directly owned 77,094 shares of the company’s stock, valued at approximately $17,677,654.20. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,929 shares of company stock valued at $24,692,134 in the last 90 days. Corporate insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Targa Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of TRGP. Vanguard Group Inc. grew its stake in shares of Targa Resources by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock worth $4,755,169,000 after buying an additional 422,075 shares during the last quarter. Wellington Management Group LLP raised its stake in Targa Resources by 9.0% during the third quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock valued at $3,291,012,000 after buying an additional 1,620,253 shares during the last quarter. State Street Corp raised its stake in Targa Resources by 1.3% during the fourth quarter. State Street Corp now owns 12,668,233 shares of the pipeline company’s stock valued at $2,337,289,000 after buying an additional 162,878 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Targa Resources by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 5,867,345 shares of the pipeline company’s stock worth $1,078,497,000 after acquiring an additional 45,495 shares in the last quarter. Finally, Norges Bank bought a new stake in Targa Resources in the second quarter worth $708,366,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources News Roundup

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

• Positive Sentiment: UBS raised its price target on TRGP to $280 and reiterated a “buy” rating, giving the stock meaningful upside relative to recent levels. UBS raises PT to $280
• Positive Sentiment: Truist/Truist Securities initiated/upped coverage on Targa with a buy/strong‑buy stance and a roughly $279 price target, adding another institutional endorsement supporting the stock. Truist initiates coverage
• Neutral Sentiment: US Capital Advisors published a broad set of estimate updates: they raised several near‑term and long‑term forecasts (examples: Q1/Q2 2026, FY2026 and FY2028 estimates were nudged higher), signaling upside to multi‑year earnings expectations. US Capital Advisors estimate changes
• Negative Sentiment: That same US Capital Advisors report included downgrades to certain quarters (notably Q3/Q4 2026) and a lower FY2027 outlook vs. their prior view — a near‑term earnings tempering that could weigh on sentiment. US Capital Advisors cuts to some quarters/FY2027

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.