Ceredex Value Advisors LLC Buys Shares of 6,224 Targa Resources, Inc. $TRGP

Ceredex Value Advisors LLC purchased a new position in Targa Resources, Inc. (NYSE:TRGP) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,224 shares of the pipeline company’s stock, valued at approximately $1,669,000.

Several other large investors have also bought and sold shares of TRGP. Norges Bank acquired a new position in Targa Resources in the fourth quarter worth approximately $735,758,000. Goldman Sachs Group Inc. lifted its holdings in shares of Targa Resources by 48.5% in 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 purchasing an additional 1,075,246 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Targa Resources in the second quarter valued at $220,135,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Targa Resources during the 3rd quarter worth about $121,426,000. Finally, Bank of America Corp DE grew its position in Targa Resources by 28.0% during the first quarter. Bank of America Corp DE now owns 3,151,993 shares of the pipeline company’s stock valued at $790,299,000 after purchasing an additional 688,598 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TRGP. Royal Bank Of Canada increased their price objective on Targa Resources from $310.00 to $312.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Scotiabank upped their price target on shares of Targa Resources from $249.00 to $257.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Citigroup reaffirmed a “buy” rating on shares of Targa Resources in a research report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company lifted their price target on Targa Resources from $270.00 to $282.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $297.18.

Targa Resources Price Performance

Shares of TRGP stock opened at $300.01 on Friday. The stock’s fifty day moving average is $271.98 and its 200-day moving average is $254.10. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a market capitalization of $64.33 billion, a PE ratio of 28.68, a PEG ratio of 1.46 and a beta of 0.72. Targa Resources, Inc. has a 52 week low of $144.14 and a 52 week high of $307.94.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings data 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 analysts’ expectations of $4.90 billion. Equities research analysts expect that Targa Resources, Inc. will post 11.05 EPS for the current fiscal year.

Targa Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid 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 dividend yield of 1.7%. Targa Resources’s dividend payout ratio is 47.80%.

Key Targa Resources News

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

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.