Great Lakes Advisors LLC Takes $2.38 Million Position in Targa Resources, Inc. $TRGP

Great Lakes Advisors LLC bought a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) in the second quarter, Holdings Channel reports. The fund bought 8,894 shares of the pipeline company’s stock, valued at approximately $2,385,000.

Several other large investors have also recently made changes to their positions in TRGP. Norges Bank purchased a new stake in shares of Targa Resources in the 4th quarter worth approximately $735,758,000. Goldman Sachs Group Inc. raised its stake in Targa Resources by 48.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,290,099 shares of the pipeline company’s stock valued at $607,023,000 after buying an additional 1,075,246 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Targa Resources in the second quarter worth $220,135,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Targa Resources in the third quarter worth $121,426,000. Finally, Bank of America Corp DE grew its stake in shares of Targa Resources by 28.0% in the first quarter. Bank of America Corp DE now owns 3,151,993 shares of the pipeline company’s stock worth $790,299,000 after acquiring an additional 688,598 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRGP. Morgan Stanley upped their price target on shares of Targa Resources from $333.00 to $343.00 and gave the stock an “overweight” rating in a research note on Tuesday. Erste Group Bank began coverage on shares of Targa Resources in a report on Thursday, June 25th. They issued a “buy” rating for the company. Wolfe Research set a $335.00 target price on shares of Targa Resources in a research note on Friday, August 7th. Royal Bank Of Canada raised their price target on shares of Targa Resources from $310.00 to $312.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Mizuho boosted their price objective on shares of Targa Resources from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $297.18.

Targa Resources Trading Down 0.7%

Shares of TRGP stock opened at $300.01 on Friday. 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, Inc. has a 12-month low of $144.14 and a 12-month high of $307.94. The stock has a market capitalization of $64.33 billion, a P/E ratio of 28.68, a P/E/G ratio of 1.46 and a beta of 0.72. The firm’s 50 day moving average is $271.98 and its 200 day moving average is $254.10.

Targa Resources (NYSE:TRGP) last released its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.71. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%.The firm had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Research analysts expect that Targa Resources, Inc. will post 11.05 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, July 31st. Targa Resources’s payout ratio is currently 47.80%.

Targa Resources News Summary

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

• Positive Sentiment: Long-term ExxonMobil contracts strengthen growth visibility. Targa secured 20-year, fee-based agreements with ExxonMobil covering the Permian Delaware and Midland basins. The arrangements support new processing and takeaway infrastructure through 2046, potentially improving cash-flow visibility and extending Targa’s Permian growth runway. Targa Resources Secures 20-Year Deal With ExxonMobil
• Positive Sentiment: Jefferies initiated or reiterated a Buy rating. The endorsement provides additional analyst support for TRGP’s long-term growth and infrastructure outlook. Targa Resources Gets a Buy from Jefferies
• Neutral Sentiment: Higher capital spending raises execution risk. The ExxonMobil-related infrastructure buildout could create meaningful future growth, but increased 2026 spending may pressure near-term free cash flow and heighten construction and execution demands. How Targa’s ExxonMobil Deal Could Extend Its Permian Growth Runway
• Negative Sentiment: US Capital Advisors reduced multiple EPS forecasts. The firm cut estimates for late 2026, all quarters of 2027, FY2027 EPS from $11.75 to $11.05, and FY2028 EPS from $13.42 to $12.73. Although it maintained a “Moderate Buy” rating, the revisions suggest expectations for slower earnings growth.
• Negative Sentiment: Premium valuation may limit upside. TRGP is trading close to its 52-week high following an approximately 85% rally, while heavy spending and potentially moderating marketing gains have raised questions about whether the current valuation fully reflects future growth. Targa Resources’ Stock Near 52-Week High

Targa Resources 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.