Bank of America Corp DE Purchases 688,598 Shares of Targa Resources, Inc. $TRGP

Key Points

• Bank of America increased its Targa Resources position by 28% in the first quarter, acquiring 688,598 shares for a total holding of 3.15 million shares valued at approximately $790.3 million.
• Analyst sentiment remains favorable, with 17 Buy ratings and two Holds contributing to a consensus “Moderate Buy” rating and an average price target of $288.
• Targa reported quarterly EPS of $2.21, below the $2.48 consensus estimate, while maintaining a quarterly dividend of $1.25, equivalent to a 1.8% annualized yield.

Bank of America Corp DE raised its position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 28.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,151,993 shares of the pipeline company's stock after acquiring an additional 688,598 shares during the period. Bank of America Corp DE owned approximately 1.47% of Targa Resources worth $790,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TRGP. Woodline Partners LP grew its stake in shares of Targa Resources by 40.7% in the 1st 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 raised its position in shares of Targa Resources by 157.4% during the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company's stock valued at $788,000 after buying an additional 2,404 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Targa Resources by 6.3% in the 2nd quarter. Baird Financial Group Inc. now owns 3,697 shares of the pipeline company's stock valued at $644,000 after acquiring an additional 219 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Targa Resources by 13.1% in the 2nd quarter. Brown Advisory Inc. now owns 4,521 shares of the pipeline company's stock valued at $787,000 after acquiring an additional 524 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Targa Resources by 11.0% in the second quarter. Cerity Partners LLC now owns 31,881 shares of the pipeline company's stock worth $5,550,000 after acquiring an additional 3,163 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Targa Resources in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price objective on Targa Resources from $264.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $310.00 target price on shares of Targa Resources in a report on Tuesday, July 21st. Erste Group Bank began coverage on Targa Resources in a research report on Thursday, June 25th. They set a "buy" rating on the stock. Finally, US Capital Advisors lowered Targa Resources from a "strong-buy" rating to a "moderate buy" rating in a report on Friday, May 29th. Seventeen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Targa Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.00.

Targa Resources Stock Up 0.8%

Shares of NYSE TRGP opened at $270.55 on Friday. Targa Resources, Inc. has a 1 year low of $144.14 and a 1 year high of $291.04. The firm has a 50-day simple moving average of $269.16 and a two-hundred day simple moving average of $245.09. The company has a market cap of $58.07 billion, a P/E ratio of 27.36, a PEG ratio of 1.37 and a beta of 0.71. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.72 and a quick ratio of 0.62.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, May 7th. The pipeline company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.68 billion. Research analysts anticipate that Targa Resources, Inc. will post 10.8 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $1.25 dividend. The ex-dividend date is Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. Targa Resources's dividend payout ratio (DPR) is presently 50.56%.

Insiders Place Their Bets

In other news, Director Charles R. Crisp sold 10,602 shares of Targa Resources stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the sale, the director directly owned 66,492 shares in the company, valued at approximately $17,019,292.32. This trade represents a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by insiders.

Key Targa Resources News

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

• Positive Sentiment: US Capital Advisors raised its Q2 2026 EPS forecast to $2.75 from $2.53 and lifted its FY2026 estimate to $10.24 from $10.18. The firm maintained a “Moderate Buy” rating, providing a positive near-term catalyst ahead of Targa’s earnings release. US Capital Advisors estimate revisions
• Positive Sentiment: A Zacks preview said Targa has the factors needed for a potential earnings beat in its upcoming second-quarter report, which may be supporting expectations for a favorable result. Zacks earnings preview
• Positive Sentiment: Analyst coverage remains broadly supportive: Targa carries a consensus “Moderate Buy” rating, while another report highlighted an upward revision to the FY2026 EPS outlook. FY2026 EPS forecast revision
• Neutral Sentiment: A dividend analysis is available, but the supplied report does not provide specific changes to Targa’s dividend, payout policy, or yield. Targa Resources dividend analysis
• Negative Sentiment: US Capital Advisors trimmed several forward estimates: Q3 2026 EPS to $2.52 from $2.58, Q4 2026 to $2.75 from $2.85, Q1 2027 to $2.78 from $2.79, Q2 2027 to $2.76 from $2.77, and FY2028 to $13.42 from $13.45. The cuts are small but suggest somewhat softer longer-term expectations. Forward EPS estimate reductions

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.

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