Callan Family Office LLC Takes Position in Targa Resources, Inc. $TRGP

Key Points

• Callan Family Office LLC acquired 6,836 Targa Resources shares worth approximately $1.83 million during the second quarter. Institutional investors collectively own 92.13% of TRGP.
• Targa reported quarterly EPS of $3.54, beating analyst estimates of $2.83, although revenue of $4.44 billion fell short of the $4.90 billion consensus forecast. The company also paid a $1.25 quarterly dividend, equal to a 1.7% annualized yield.
• Analysts maintain a favorable outlook, with an average “Buy” rating and a $297.18 target price, while long-term ExxonMobil contracts support growth visibility. However, elevated capital spending, revised lower earnings forecasts, and a valuation near its 52-week high pose potential risks.

Callan Family Office LLC purchased a new position in Targa Resources, Inc. (NYSE:TRGP - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,836 shares of the pipeline company's stock, valued at approximately $1,833,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp bought a new stake in Targa Resources in the fourth quarter worth $27,000. Miller Capital Partners Inc. bought a new position in shares of Targa Resources during the fourth quarter valued at $30,000. Leonteq Securities AG bought a new position in shares of Targa Resources during the fourth quarter valued at $31,000. CoreCap Advisors LLC increased its holdings in shares of Targa Resources by 245.9% during the second quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company's stock valued at $34,000 after acquiring an additional 91 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of Targa Resources in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Price Performance

Shares of TRGP opened at $300.01 on Monday. The firm has a fifty day simple moving average of $271.98 and a two-hundred day simple moving average of $254.49. The firm has a market cap of $64.33 billion, a PE ratio of 28.68, a P/E/G ratio of 1.43 and a beta of 0.72. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $307.94.

Targa Resources (NYSE:TRGP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.83 by $0.71. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%.The firm had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. On average, equities analysts anticipate that Targa Resources, Inc. will post 11.13 EPS for the current year.

Targa Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Targa Resources from $310.00 to $312.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. Morgan Stanley lifted their target price on shares of Targa Resources from $333.00 to $343.00 and gave the stock an "overweight" rating in a report on Tuesday, August 18th. Truist Financial upped their target price on shares of Targa Resources from $289.00 to $312.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Jefferies Financial Group increased their price target on shares of Targa Resources from $324.00 to $345.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Finally, Raymond James Financial set a $335.00 price target on shares of Targa Resources in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Targa Resources presently has an average rating of "Buy" and an average target price of $297.18.

Targa Resources News Summary

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 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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