Citigroup Inc. Reduces Stake in Targa Resources, Inc. $TRGP

Citigroup Inc. decreased its holdings in shares of Targa Resources, Inc. (NYSE:TRGP) by 39.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,744 shares of the pipeline company’s stock after selling 77,604 shares during the quarter. Citigroup Inc.’s holdings in Targa Resources were worth $19,894,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Targa Resources by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock worth $4,755,169,000 after buying an additional 422,075 shares during the last quarter. Geode Capital Management LLC raised its stake in Targa Resources by 1.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,856,899 shares of the pipeline company’s stock worth $1,022,222,000 after acquiring an additional 95,611 shares in the last quarter. Norges Bank purchased a new stake in Targa Resources in the second quarter valued at $708,366,000. Canada Pension Plan Investment Board lifted its position in Targa Resources by 12.0% in the second quarter. Canada Pension Plan Investment Board now owns 1,886,844 shares of the pipeline company’s stock valued at $328,462,000 after acquiring an additional 201,927 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Targa Resources by 7.2% in the second quarter. Legal & General Group Plc now owns 1,601,244 shares of the pipeline company’s stock valued at $278,745,000 after acquiring an additional 107,028 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Price Performance

Targa Resources stock opened at $231.20 on Friday. The business has a 50 day simple moving average of $198.60 and a 200-day simple moving average of $177.35. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $234.41. The company has a debt-to-equity ratio of 5.21, a current ratio of 0.67 and a quick ratio of 0.55. The stock has a market capitalization of $49.70 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Equities analysts predict that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, January 30th. Targa Resources’s payout ratio is currently 46.57%.

Targa Resources News Summary

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

• Positive Sentiment: Multiple analyst upgrades and a higher price target (Citi raised its target to $262 from $200) — these upgrades lift investor expectations and help push the stock higher. Citi raises TRGP price target
• Positive Sentiment: Targa announced a 25% dividend hike and is advancing Permian buildout plans — the larger payout and growth investment reframe the company toward income + growth, attracting yield‑oriented and growth investors. Dividend hike and Permian buildout
• Positive Sentiment: Q4 results showed an EPS beat ($2.51 vs. $2.35 consensus) despite a slight revenue miss — earnings upside supports valuation and analyst optimism. Quarterly results summary
• Neutral Sentiment: Targa priced a $1.5 billion senior notes offering: $750M 4.350% due 2031 and $750M 6.050% due 2056 (expected close March 2). This secures long‑dated financing and liquidity for growth/refinancing but increases gross debt on a company that already runs high leverage, making the net impact mixed. Senior notes offering details
• Negative Sentiment: Insider selling by senior managers: President Jennifer Kneale sold ~29,509 shares (~11.15% reduction) and Director Charles Crisp sold 1,359 shares — material insider sales can signal near‑term liquidity/tax actions but are often interpreted negatively by the market. Insider selling details

Insiders Place Their Bets

In related news, Director Charles R. Crisp sold 1,359 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total transaction of $311,618.70. Following the transaction, the director owned 77,094 shares of the company’s stock, valued at $17,677,654.20. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gerald R. Shrader sold 2,750 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $181.21, for a total value of $498,327.50. Following the completion of the transaction, the insider owned 29,561 shares of the company’s stock, valued at $5,356,748.81. The trade was a 8.51% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 33,618 shares of company stock worth $7,600,557. Company insiders own 1.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TRGP shares. UBS Group reissued a “buy” rating on shares of Targa Resources in a report on Friday, January 9th. Weiss Ratings upgraded Targa Resources from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 29th. Citigroup raised their target price on shares of Targa Resources from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank reiterated an “outperform” rating on shares of Targa Resources in a research report on Tuesday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $266.00 price target on shares of Targa Resources in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Targa Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.50.

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.