Encore Global Management LP Purchases New Shares in Targa Resources, Inc. $TRGP

Encore Global Management LP acquired a new stake in Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,000 shares of the pipeline company’s stock, valued at approximately $536,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in shares of Targa Resources in the fourth quarter valued at about $27,000. Miller Capital Partners Inc. bought a new stake in Targa Resources during the 4th quarter worth about $30,000. Leonteq Securities AG bought a new stake in Targa Resources during the 4th quarter worth about $31,000. CoreCap Advisors LLC increased its position in Targa Resources by 245.9% in the 2nd quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new stake in Targa Resources in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

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

Targa Resources Trading Down 0.7%

Shares of NYSE TRGP opened at $300.01 on Friday. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $307.94. The stock has a market cap of $64.33 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.46 and a beta of 0.72. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. The company’s fifty day moving average is $271.98 and its 200-day moving average is $254.10.

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, topping 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 analyst estimates of $4.90 billion. Equities research analysts predict that Targa Resources, Inc. will post 11.05 EPS for the current year.

Targa Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $1.25 per share. 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 (DPR) is currently 47.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TRGP shares. Raymond James Financial set a $335.00 target price on shares of Targa Resources in a research report on Friday, August 7th. Jefferies Financial Group raised their price target on shares of Targa Resources from $324.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Targa Resources from $270.00 to $282.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Morgan Stanley upped their price objective on Targa Resources from $333.00 to $343.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Mizuho increased their price objective on Targa Resources from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. 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 company. According to data from MarketBeat, Targa Resources presently has an average rating of “Buy” and a consensus price target of $297.18.

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.