Canada Pension Plan Investment Board Takes $275.70 Million Position in Targa Resources, Inc. $TRGP

Canada Pension Plan Investment Board purchased a new stake in shares of Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,028,201 shares of the pipeline company’s stock, valued at approximately $275,702,000.

Other hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Targa Resources by 57.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 34,805 shares of the pipeline company’s stock worth $6,421,000 after buying an additional 12,640 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Targa Resources by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company’s stock valued at $151,331,000 after acquiring an additional 53,413 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of Targa Resources by 37.3% during the 1st quarter. Miller Howard Investments Inc. NY now owns 230,592 shares of the pipeline company’s stock valued at $57,816,000 after acquiring an additional 62,652 shares during the last quarter. Raiffeisen Bank International AG grew its stake in shares of Targa Resources by 164.1% in the fourth quarter. Raiffeisen Bank International AG now owns 33,641 shares of the pipeline company’s stock worth $6,245,000 after acquiring an additional 20,905 shares during the period. Finally, Icon Wealth Advisors LLC grew its stake in shares of Targa Resources by 24.0% in the fourth quarter. Icon Wealth Advisors LLC now owns 19,649 shares of the pipeline company’s stock worth $3,625,000 after acquiring an additional 3,797 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Targa Resources

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

• Positive Sentiment: Targa appointed longtime midstream executive Brent Secrest as President of Logistics and Transportation and promoted Benjamin Branstetter to CFO, effective September 1. Secrest brings more than 20 years of industry experience, while Branstetter’s internal promotion supports operational and strategic continuity. Outgoing CFO William Byers will remain an adviser through year-end 2026 to facilitate the transition. Targa leadership announcement
• Positive Sentiment: Recent operating momentum remains supportive: Targa reported record second-quarter results, including adjusted EPS of $3.54 versus the $2.83 consensus estimate. The company also recently expanded 20-year ExxonMobil-linked Permian agreements and announced three gas-processing plants, a pipeline project and approximately $5.0 billion in 2026 net growth capital. Strong midstream earnings outlook
• Neutral Sentiment: Institutional positioning was mixed in the latest quarter: 546 investors added shares while 490 reduced holdings. Analysts’ median price target is $275, below the recent trading level, although several targets remain above $300, indicating divided valuation expectations.
• Negative Sentiment: Investors may be applying a discount for leadership uncertainty following Byers’ retirement and the relatively rapid reassignment of Branstetter after his recent move into the logistics role. The change is planned and includes an advisory handoff, but CFO transitions can still increase concerns about execution and capital allocation.
• Negative Sentiment: Sharp declines in crude prices on August 25 likely pressured energy shares broadly, including midstream companies, despite Targa’s largely fee-based business model. The stock also faces a cautionary insider-trading signal: reported open-market transactions over the past six months show sales and no purchases, including a director’s sale of 2,400 shares. Targa insider transaction

Insider Activity

In other news, Director Waters S. Iv Davis sold 2,400 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $299.67, for a total transaction of $719,208.00. Following the completion of the sale, the director owned 1,529 shares of the company’s stock, valued at $458,195.43. The trade was a 61.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.37% of the stock is currently owned by insiders.

Targa Resources Price Performance

Shares of NYSE:TRGP opened at $287.10 on Wednesday. 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 stock has a market capitalization of $61.56 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.72. The firm’s 50 day moving average price is $273.17 and its 200-day moving average price is $255.72. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $307.94.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) 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 company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.90 billion. Equities research analysts expect that Targa Resources, Inc. will post 11.13 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 paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, July 31st. Targa Resources’s dividend payout ratio (DPR) is currently 47.80%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TRGP shares. JPMorgan Chase & Co. increased their price objective on shares of Targa Resources from $291.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Stifel Nicolaus set a $268.00 target price on shares of Targa Resources in a research note on Friday, May 8th. TD Cowen increased their price target on Targa Resources from $270.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 7th. Seaport Research Partners restated a “neutral” rating on shares of Targa Resources in a research note on Monday, May 4th. Finally, Morgan Stanley lifted their price objective on Targa Resources from $333.00 to $343.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $297.18.

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.