Targa Resources (NYSE:TRGP) Reaches New 52-Week High – Should You Buy?

Targa Resources, Inc. (NYSE:TRGP) shares reached a new 52-week high on Wednesday . The company traded as high as $261.95 and last traded at $259.6890, with a volume of 941334 shares. The stock had previously closed at $258.98.

Key Headlines Impacting Targa Resources

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

• Positive Sentiment: Company reported record Q1 results: net income attributable to Targa rose to $480M vs $271M a year earlier, and management raised the company’s 2026 financial outlook — a headline that supports investor confidence. Read More.
• Positive Sentiment: Management forecasts adjusted core profit (core EBITDA/adjusted metrics) above analysts’ expectations, citing higher natural gas liquids transport and increased gas volumes — volume-driven guidance is a positive fundamental driver. Read More.
• Positive Sentiment: Management struck an upbeat tone on the earnings call and reiterated the stronger 2026 outlook, which helped offset headline misses and supports near-term sentiment. Read More.
• Neutral Sentiment: Zacks highlights TRGP as an attractive dividend stock for income investors — this can support the share price over time but is not an immediate price catalyst. Read More.
• Neutral Sentiment: The full Q1 earnings call transcript is available for investors who want management detail on volumes, capital allocation and outlook assumptions. Read More.
• Negative Sentiment: Reported Q1 EPS and revenue missed consensus — EPS came in around $2.21–$2.23 vs. ~ $2.55 expected and revenue was below estimates (~$4.09B reported vs higher forecasts). Those misses are a near-term negative that can weigh on traders focused on quarter-over-quarter beats. Read More.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TRGP shares. Truist Financial raised their price target on Targa Resources from $279.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Scotiabank raised their price target on Targa Resources from $246.00 to $249.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. The Goldman Sachs Group increased their price objective on Targa Resources from $242.00 to $268.00 and gave the company a “buy” rating in a report on Monday, April 20th. Barclays increased their price objective on Targa Resources from $226.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings raised Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 29th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.93.

Targa Resources Stock Performance

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 $54.25 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 1.61 and a beta of 0.75. The stock has a fifty day moving average price of $242.08 and a 200 day moving average price of $204.25.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.27). The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.68 billion. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. As a group, analysts predict that Targa Resources, Inc. will post 10.32 earnings per share for the current year.

Targa Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a $1.25 dividend. This is an increase from Targa Resources’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $5.00 dividend on an annualized basis and a yield of 2.0%. Targa Resources’s payout ratio is 58.21%.

Insider Transactions at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $228.92, for a total value of $4,006,100.00. Following the sale, the insider owned 31,938 shares of the company’s stock, valued at $7,311,246.96. This trade represents a 35.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lindsey Cooksen sold 435 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $231.72, for a total value of $100,798.20. Following the completion of the sale, the director directly owned 11,670 shares in the company, valued at $2,704,172.40. This trade represents a 3.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 104,929 shares of company stock worth $24,692,134. Insiders own 1.37% of the company’s stock.

Institutional Trading of Targa Resources

Hedge funds have recently modified their holdings of the company. Alps Advisors Inc. lifted its position in shares of Targa Resources by 5.5% during the 3rd quarter. Alps Advisors Inc. now owns 143,904 shares of the pipeline company’s stock worth $24,110,000 after buying an additional 7,497 shares during the period. Korea Investment CORP lifted its position in shares of Targa Resources by 37.4% during the 3rd quarter. Korea Investment CORP now owns 260,760 shares of the pipeline company’s stock worth $43,688,000 after buying an additional 70,998 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Targa Resources by 137.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 66,636 shares of the pipeline company’s stock worth $11,164,000 after buying an additional 38,626 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Targa Resources by 5.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 484,462 shares of the pipeline company’s stock worth $81,167,000 after buying an additional 22,969 shares during the period. Finally, NFC Investments LLC bought a new position in shares of Targa Resources during the 3rd quarter worth approximately $8,478,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Company Profile

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.