Bard Associates Inc. Makes New $2.08 Million Investment in Targa Resources, Inc. $TRGP

Key Points

• Bard Associates initiated a $2.08 million position in Targa Resources, purchasing 7,773 shares during the second quarter. Institutional investors collectively own 92.13% of the company.
• Targa reported quarterly earnings of $3.54 per share, exceeding analyst expectations of $2.83, though revenue of $4.44 billion came in below the $4.90 billion forecast. The company also maintains a $1.25 quarterly dividend, representing a 1.7% yield.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and a $297.18 price target, but elevated valuation and higher infrastructure spending could limit near-term upside and pressure free cash flow.

Bard Associates Inc. purchased a new position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,773 shares of the pipeline company's stock, valued at approximately $2,084,000.

A number of other institutional investors have also recently added to or reduced their stakes in TRGP. Woodline Partners LP raised 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 valued at $3,693,000 after acquiring an additional 5,327 shares during the period. Focus Partners Wealth grew its position in Targa Resources by 157.4% in the 1st quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company's stock worth $788,000 after purchasing an additional 2,404 shares during the last quarter. Baird Financial Group Inc. increased its position in 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 period. Brown Advisory Inc. lifted its holdings in Targa Resources by 13.1% in the second quarter. Brown Advisory Inc. now owns 4,521 shares of the pipeline company's stock worth $787,000 after purchasing an additional 524 shares during the period. Finally, Cerity Partners LLC lifted 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 purchasing an additional 3,163 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Stock Performance

Shares of TRGP opened at $300.01 on Friday. The firm has a 50-day moving average of $271.98 and a 200-day moving average of $254.10. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $307.94. The company has a market cap of $64.33 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.68.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.71. The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.90 billion. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. As a group, equities analysts forecast that Targa Resources, Inc. will post 11.05 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. Targa Resources's dividend payout ratio (DPR) is currently 47.80%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TRGP shares. US Capital Advisors downgraded Targa Resources from a "strong-buy" rating to a "moderate buy" rating in a research report on Friday, May 29th. Wells Fargo & Company boosted their price objective on Targa Resources from $270.00 to $282.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Stifel Nicolaus set a $268.00 price target on Targa Resources in a report on Friday, May 8th. Citigroup reiterated a "buy" rating on shares of Targa Resources in a research note on Wednesday, May 27th. Finally, Mizuho raised their target price on Targa Resources from $260.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $297.18.

Targa Resources News Roundup

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

• Positive Sentiment: Long-term ExxonMobil contracts strengthen growth visibility. Targa secured 20-year, fee-based agreements with ExxonMobil covering the Permian Delaware and Midland basins. The arrangements support new processing and takeaway infrastructure through 2046, potentially improving cash-flow visibility and extending Targa’s Permian growth runway. Targa Resources Secures 20-Year Deal With ExxonMobil
• Positive Sentiment: Jefferies initiated or reiterated a Buy rating. The endorsement provides additional analyst support for TRGP’s long-term growth and infrastructure outlook. Targa Resources Gets a Buy from Jefferies
• Neutral Sentiment: Higher capital spending raises execution risk. The ExxonMobil-related infrastructure buildout could create meaningful future growth, but increased 2026 spending may pressure near-term free cash flow and heighten construction and execution demands. How Targa's ExxonMobil Deal Could Extend Its Permian Growth Runway
• Negative Sentiment: US Capital Advisors reduced multiple EPS forecasts. The firm cut estimates for late 2026, all quarters of 2027, FY2027 EPS from $11.75 to $11.05, and FY2028 EPS from $13.42 to $12.73. Although it maintained a “Moderate Buy” rating, the revisions suggest expectations for slower earnings growth.
• Negative Sentiment: Premium valuation may limit upside. TRGP is trading close to its 52-week high following an approximately 85% rally, while heavy spending and potentially moderating marketing gains have raised questions about whether the current valuation fully reflects future growth. Targa Resources' Stock Near 52-Week High

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.

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