Truist Financial began coverage on shares of Targa Resources (NYSE:TRGP – Get Free Report) in a research report issued on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $279.00 price target on the pipeline company’s stock. Truist Financial’s price objective points to a potential upside of 13.81% from the company’s previous close.
A number of other analysts have also commented on TRGP. Mizuho lifted their price target on Targa Resources from $207.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. BMO Capital Markets restated an “outperform” rating and issued a $241.00 price objective on shares of Targa Resources in a research note on Friday, February 20th. Barclays reaffirmed an “overweight” rating and set a $226.00 target price on shares of Targa Resources in a research report on Friday, February 20th. UBS Group reiterated a “buy” rating on shares of Targa Resources in a research note on Friday, January 9th. Finally, Citigroup boosted their price target on shares of Targa Resources from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.57.
View Our Latest Stock Analysis on TRGP
Targa Resources Trading Down 0.4%
Targa Resources (NYSE:TRGP – Get Free Report) last announced its earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. On average, equities analysts expect that Targa Resources will post 8.15 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Lindsey Cooksen sold 435 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $231.72, for a total transaction of $100,798.20. Following the transaction, the director owned 11,670 shares of the company’s stock, valued at $2,704,172.40. This represents a 3.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patrick J. Mcdonie sold 31,537 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $239.36, for a total value of $7,548,696.32. Following the transaction, the insider owned 305,163 shares of the company’s stock, valued at $73,043,815.68. The trade was a 9.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 104,929 shares of company stock valued at $24,692,134. Company insiders own 1.34% of the company’s stock.
Institutional Investors Weigh In On Targa Resources
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Olistico Wealth LLC purchased a new stake in Targa Resources during the fourth quarter valued at about $27,000. Atlantic Union Bankshares Corp purchased a new position in shares of Targa Resources in the fourth quarter worth about $27,000. Miller Capital Partners Inc. purchased a new position in shares of Targa Resources in the fourth quarter worth about $30,000. Leonteq Securities AG bought a new stake in shares of Targa Resources in the fourth quarter valued at approximately $31,000. Finally, Peoples Financial Services CORP. bought a new stake in shares of Targa Resources in the third quarter valued at approximately $34,000. 92.13% of the stock is currently owned by institutional investors.
Key Headlines Impacting Targa Resources
Here are the key news stories impacting Targa Resources this week:
- Positive Sentiment: UBS raised its price target on TRGP to $280 and reiterated a “buy” rating, giving the stock meaningful upside relative to recent levels. UBS raises PT to $280
- Positive Sentiment: Truist/Truist Securities initiated/upped coverage on Targa with a buy/strong‑buy stance and a roughly $279 price target, adding another institutional endorsement supporting the stock. Truist initiates coverage
- Neutral Sentiment: US Capital Advisors published a broad set of estimate updates: they raised several near‑term and long‑term forecasts (examples: Q1/Q2 2026, FY2026 and FY2028 estimates were nudged higher), signaling upside to multi‑year earnings expectations. US Capital Advisors estimate changes
- Negative Sentiment: That same US Capital Advisors report included downgrades to certain quarters (notably Q3/Q4 2026) and a lower FY2027 outlook vs. their prior view — a near‑term earnings tempering that could weigh on sentiment. US Capital Advisors cuts to some quarters/FY2027
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.
Further Reading
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