Sanctuary Advisors LLC Makes New Investment in Targa Resources, Inc. $TRGP

Sanctuary Advisors LLC bought a new position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 44,113 shares of the pipeline company's stock, valued at approximately $11,829,000.

A number of other hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in shares of Targa Resources by 57.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 34,805 shares of the pipeline company's stock worth $6,421,000 after acquiring an additional 12,640 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Targa Resources by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company's stock valued at $151,331,000 after acquiring an additional 53,413 shares during the last quarter. Miller Howard Investments Inc. NY boosted its position in shares of Targa Resources by 37.3% during the 1st quarter. Miller Howard Investments Inc. NY now owns 230,592 shares of the pipeline company's stock valued at $57,816,000 after acquiring an additional 62,652 shares during the last quarter. Raiffeisen Bank International AG grew its holdings in shares of Targa Resources by 164.1% in the fourth quarter. Raiffeisen Bank International AG now owns 33,641 shares of the pipeline company's stock valued at $6,245,000 after purchasing an additional 20,905 shares during the period. Finally, Icon Wealth Advisors LLC grew its holdings in shares of Targa Resources by 24.0% in the fourth quarter. Icon Wealth Advisors LLC now owns 19,649 shares of the pipeline company's stock valued at $3,625,000 after purchasing an additional 3,797 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on TRGP. Erste Group Bank started coverage on shares of Targa Resources in a research note on Thursday, June 25th. They set a "buy" rating on the stock. Barclays increased their price target on shares of Targa Resources from $282.00 to $284.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of Targa Resources in a report on Thursday, July 2nd. Raymond James Financial set a $335.00 price target on shares of Targa Resources in a research report on Friday, August 7th. Finally, Truist Financial upped their price objective on Targa Resources from $289.00 to $312.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Targa Resources currently has a consensus rating of "Buy" and an average target price of $297.18.

Targa Resources Trading Up 0.3%

NYSE TRGP opened at $300.01 on Monday. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a market capitalization of $64.33 billion, a P/E ratio of 28.68, a PEG ratio of 1.43 and a beta of 0.72. The firm's 50-day moving average is $271.98 and its two-hundred day moving average is $254.49. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $307.94.

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

Targa Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $1.25 dividend. 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 presently 47.80%.

More Targa Resources News

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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