OneAscent Investment Solutions LLC Takes $632,000 Position in Targa Resources, Inc. $TRGP

OneAscent Investment Solutions LLC purchased a new position in shares of Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,358 shares of the pipeline company’s stock, valued at approximately $632,000.

Several other hedge funds have also added to or reduced their stakes in TRGP. Woodline Partners LP lifted its holdings in shares of Targa Resources by 40.7% during the first quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock worth $3,693,000 after buying an additional 5,327 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Targa Resources by 157.4% in the first quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock valued at $788,000 after acquiring an additional 2,404 shares in the last quarter. Baird Financial Group Inc. increased its position in Targa Resources by 6.3% during the second quarter. Baird Financial Group Inc. now owns 3,697 shares of the pipeline company’s stock worth $644,000 after acquiring an additional 219 shares during the period. Brown Advisory Inc. raised its stake in Targa Resources by 13.1% in the 2nd quarter. Brown Advisory Inc. now owns 4,521 shares of the pipeline company’s stock worth $787,000 after purchasing an additional 524 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Targa Resources by 11.0% in the 2nd quarter. Cerity Partners LLC now owns 31,881 shares of the pipeline company’s stock valued at $5,550,000 after purchasing an additional 3,163 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup restated a “buy” rating on shares of Targa Resources in a research report on Wednesday, May 27th. Raymond James Financial set a $335.00 price target on Targa Resources in a research note on Friday, August 7th. Truist Financial increased their price target on Targa Resources from $289.00 to $312.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Seaport Research Partners restated a “neutral” rating on shares of Targa Resources in a research note on Monday, May 4th. Finally, TD Cowen raised their price objective on Targa Resources from $270.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $297.18.

Targa Resources Trading Down 0.7%

TRGP opened at $300.01 on Friday. The stock has a market capitalization 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. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $307.94. The company has a 50-day simple moving average of $271.98 and a 200 day simple moving average of $254.10.

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

Targa Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $1.25 per share. The ex-dividend date was Friday, July 31st. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is currently 47.80%.

More 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 Company 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.