Legal & General Group Plc Invests $336.57 Million in Targa Resources, Inc. $TRGP

Legal & General Group Plc bought a new position in shares of Targa Resources, Inc. (NYSE:TRGP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,255,220 shares of the pipeline company’s stock, valued at approximately $336,575,000. Legal & General Group Plc owned 0.59% of Targa Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in TRGP. PNC Financial Services Group Inc. lifted its position in shares of Targa Resources by 57.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 34,805 shares of the pipeline company’s stock worth $6,421,000 after purchasing an additional 12,640 shares during the period. Hsbc Holdings PLC increased its position in Targa Resources by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company’s stock valued at $151,331,000 after buying an additional 53,413 shares in the last quarter. Miller Howard Investments Inc. NY raised its position in shares of Targa Resources by 37.3% in the 1st quarter. Miller Howard Investments Inc. NY now owns 230,592 shares of the pipeline company’s stock valued at $57,816,000 after purchasing an additional 62,652 shares during the last quarter. Raiffeisen Bank International AG lifted its stake in shares of Targa Resources by 164.1% during the fourth quarter. Raiffeisen Bank International AG now owns 33,641 shares of the pipeline company’s stock worth $6,245,000 after buying an additional 20,905 shares during the period. Finally, Icon Wealth Advisors LLC grew its stake in Targa Resources by 24.0% during the 4th quarter. Icon Wealth Advisors LLC now owns 19,649 shares of the pipeline company’s stock valued at $3,625,000 after purchasing an additional 3,797 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TRGP has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Barclays upped their price objective on shares of Targa Resources from $282.00 to $284.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Wells Fargo & Company increased their price objective on shares of Targa Resources from $270.00 to $282.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Stifel Nicolaus set a $268.00 target price on shares of Targa Resources in a report on Friday, May 8th. Finally, Seaport Research Partners restated a “neutral” rating on shares of Targa Resources in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Targa Resources currently has an average rating of “Buy” and a consensus price target of $297.18.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, Director Waters S. Iv Davis sold 2,400 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $299.67, for a total value of $719,208.00. Following the completion of the transaction, the director owned 1,529 shares in the company, valued at approximately $458,195.43. This represents a 61.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.37% of the company’s stock.

Targa Resources Trading Down 2.4%

Targa Resources stock opened at $287.10 on Wednesday. The firm has a market cap of $61.56 billion, a PE ratio of 27.45, a P/E/G ratio of 1.41 and a beta of 0.72. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $307.94. The stock’s 50 day simple moving average is $273.17 and its two-hundred day simple moving average is $255.72. 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 (NYSE:TRGP) last posted its 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 net margin of 13.55% and a return on equity of 69.26%. The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.90 billion. Analysts anticipate that Targa Resources, Inc. will post 11.13 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. Targa Resources’s payout ratio is presently 47.80%.

Key Stories Impacting Targa Resources

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

• Positive Sentiment: Targa appointed longtime midstream executive Brent Secrest as President of Logistics and Transportation and promoted Benjamin Branstetter to CFO, effective September 1. Secrest brings more than 20 years of industry experience, while Branstetter’s internal promotion supports operational and strategic continuity. Outgoing CFO William Byers will remain an adviser through year-end 2026 to facilitate the transition. Targa leadership announcement
• Positive Sentiment: Recent operating momentum remains supportive: Targa reported record second-quarter results, including adjusted EPS of $3.54 versus the $2.83 consensus estimate. The company also recently expanded 20-year ExxonMobil-linked Permian agreements and announced three gas-processing plants, a pipeline project and approximately $5.0 billion in 2026 net growth capital. Strong midstream earnings outlook
• Neutral Sentiment: Institutional positioning was mixed in the latest quarter: 546 investors added shares while 490 reduced holdings. Analysts’ median price target is $275, below the recent trading level, although several targets remain above $300, indicating divided valuation expectations.
• Negative Sentiment: Investors may be applying a discount for leadership uncertainty following Byers’ retirement and the relatively rapid reassignment of Branstetter after his recent move into the logistics role. The change is planned and includes an advisory handoff, but CFO transitions can still increase concerns about execution and capital allocation.
• Negative Sentiment: Sharp declines in crude prices on August 25 likely pressured energy shares broadly, including midstream companies, despite Targa’s largely fee-based business model. The stock also faces a cautionary insider-trading signal: reported open-market transactions over the past six months show sales and no purchases, including a director’s sale of 2,400 shares. Targa insider transaction

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.