Targa Resources (NYSE:TRGP) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Targa Resources, Inc. (NYSE:TRGP) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $288.65 and traded as high as $291.93. Targa Resources shares last traded at $291.3570, with a volume of 987,241 shares traded.

Key Headlines Impacting Targa Resources

Here are a few of the latest headlines about TRGP:

• Positive Sentiment: Targa’s Q3 earnings beat estimates, with record Permian volumes and higher fees supporting growth. The company also raised its full-year EBITDA outlook, signaling stronger expected performance. TRGP Q3 Earnings Beat on Permian Growth and Higher Fees
• Positive Sentiment: Morgan Stanley reiterated its Buy view and raised its price target to $362 from $359, while Scotiabank lifted its target to $325 from $319 and maintained an outperform rating—both signaling further potential upside in analysts’ assessments. Morgan Stanley price-target update Scotiabank price-target update
• Positive Sentiment: Wells Fargo’s analyst also expects the stock to rise, adding to the favorable analyst tone. Wells Fargo analyst outlook

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Mizuho raised their target price on shares of Targa Resources from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, September 11th. Morgan Stanley lifted their price target on shares of Targa Resources from $359.00 to $362.00 and gave the stock an “overweight” rating in a report on Tuesday. Capital One Financial upped their price target on Targa Resources from $310.00 to $335.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 22nd. The Goldman Sachs Group reiterated a “buy” rating and set a $322.00 price objective on shares of Targa Resources in a report on Tuesday, October 13th. Finally, Barclays increased their price objective on Targa Resources from $284.00 to $294.00 and gave the company an “overweight” rating in a report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $326.37.

Targa Resources Stock Up 3.6%

The company has a debt-to-equity ratio of 4.87, a current ratio of 0.74 and a quick ratio of 0.66. The firm has a market capitalization of $62.51 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.15 and a beta of 0.76. The business has a fifty day moving average price of $288.65 and a two-hundred day moving average price of $262.71.

Targa Resources (NYSE:TRGP) last posted its earnings results on Thursday, November 5th. The pipeline company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.30. Targa Resources had a net margin of 13.45% and a return on equity of 68.83%. The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $4.77 billion. On average, equities analysts expect that Targa Resources, Inc. will post 11.55 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Friday, October 30th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, October 30th. Targa Resources’s dividend payout ratio (DPR) is currently 44.25%.

Insider Buying and Selling at Targa Resources

In other news, Director Charles R. Crisp sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the sale, the director owned 62,292 shares in the company, valued at $18,079,007.16. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul W. Chung sold 1,816 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $296.11, for a total value of $537,735.76. Following the sale, the director directly owned 44,000 shares in the company, valued at approximately $13,028,840. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,216 shares of company stock worth $2,127,634. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TRGP. Compass Financial Management LLC lifted its holdings in Targa Resources by 26.2% in the third quarter. Compass Financial Management LLC now owns 154 shares of the pipeline company’s stock valued at $42,000 after acquiring an additional 32 shares during the period. Versant Capital Management Inc boosted its position in Targa Resources by 4.1% in the 2nd quarter. Versant Capital Management Inc now owns 1,146 shares of the pipeline company’s stock worth $307,000 after purchasing an additional 45 shares in the last quarter. Premier Path Wealth Partners LLC grew its stake in shares of Targa Resources by 2.3% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,003 shares of the pipeline company’s stock worth $537,000 after purchasing an additional 45 shares during the period. River Wealth Advisors LLC grew its stake in shares of Targa Resources by 0.3% during the 2nd quarter. River Wealth Advisors LLC now owns 19,457 shares of the pipeline company’s stock worth $5,217,000 after purchasing an additional 50 shares during the period. Finally, Brighton Jones LLC grew its stake in shares of Targa Resources by 2.8% during the 3rd quarter. Brighton Jones LLC now owns 1,844 shares of the pipeline company’s stock worth $498,000 after purchasing an additional 50 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

About Targa Resources

Targa Resources Corp. is a midstream energy company that gathers, processes, transports and stores natural gas and natural gas liquids (NGLs), and provides services for crude oil. Its infrastructure connects oil and gas producers with pipelines, processing facilities, fractionators, storage sites and domestic and international markets. The company’s services include natural gas gathering, compression and processing; NGL transportation and fractionation; and crude oil gathering and terminaling. Targa also operates facilities that support the export of NGLs and liquefied petroleum gas products.