Targa Resources (NYSE:TRGP) Upgraded to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Targa Resources (NYSE:TRGP) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other research firms have also issued reports on TRGP. BMO Capital Markets restated an “outperform” rating and issued a $241.00 price target on shares of Targa Resources in a research report on Friday, February 20th. TD Cowen lifted their price target on shares of Targa Resources from $192.00 to $220.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Wells Fargo & Company boosted their price objective on Targa Resources from $248.00 to $264.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Morgan Stanley upped their target price on shares of Targa Resources from $266.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Finally, Citigroup upped their price target on Targa Resources from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Targa Resources presently has an average rating of “Moderate Buy” and a consensus target price of $252.57.

Targa Resources Stock Up 2.7%

TRGP opened at $246.39 on Monday. The company has a 50-day moving average price of $219.25 and a 200 day moving average price of $186.95. Targa Resources has a twelve month low of $144.14 and a twelve month high of $250.00. The company has a market cap of $52.96 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 5.21.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.16. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%.The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. Sell-side analysts expect that Targa Resources will post 8.15 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, January 30th. Targa Resources’s payout ratio is currently 46.57%.

Insider Transactions at Targa Resources

In other Targa Resources news, insider Robert Muraro sold 24,589 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $241.34, for a total value of $5,934,309.26. Following the completion of the transaction, the insider owned 197,401 shares in the company, valued at $47,640,757.34. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles R. Crisp sold 1,359 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $229.30, for a total value of $311,618.70. Following the completion of the sale, the director directly owned 77,094 shares of the company’s stock, valued at approximately $17,677,654.20. This trade represents a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 104,929 shares of company stock valued at $24,692,134 over the last quarter. 1.34% of the stock is owned by corporate insiders.

Institutional Trading of Targa Resources

Hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its stake in shares of Targa Resources by 7.0% during the fourth quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company’s stock worth $151,331,000 after purchasing an additional 53,413 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Targa Resources by 11.1% in the fourth quarter. Corient Private Wealth LLC now owns 38,525 shares of the pipeline company’s stock valued at $7,108,000 after buying an additional 3,847 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of Targa Resources during the 4th quarter worth $52,000. Beacon Pointe Advisors LLC boosted its holdings in Targa Resources by 104.2% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,022 shares of the pipeline company’s stock worth $557,000 after buying an additional 1,542 shares in the last quarter. Finally, CacheTech Inc. purchased a new stake in shares of Targa Resources during the 4th quarter worth approximately $214,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Targa Resources

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

• Positive Sentiment: Truist initiated/upped coverage on TRGP with a buy/strong‑buy stance and a ~$279 price target, giving the stock fresh institutional endorsement that supports buying interest. Truist initiation
• Positive Sentiment: UBS raised its price target from $228 to $280 and kept a Buy rating — a sizeable PT raise that implies meaningful upside and likely supported upward momentum. UBS raises PT to $280
• Positive Sentiment: US Capital Advisors boosted several near‑term and long‑range EPS forecasts (including Q2 2026 and FY2026 / FY2028 increases), which points to improving analyst expectations for earnings growth. US Capital Advisors estimate increases
• Neutral Sentiment: Coverage expansion and target/estimate revisions are the primary catalysts today — they improve visibility but do not change company fundamentals. Investors should treat these as sentiment/expectations changes rather than operational news. Analyst coverage overview
• Negative Sentiment: US Capital Advisors also trimmed several quarterly and FY2027 estimates (small cuts to Q3/Q4 2026 and a lower FY2027 forecast vs prior), introducing some mixed signals about intermediate‑term cadence that could cap upside if realized. Mixed estimate revisions

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.