Targa Resources, Inc. $TRGP Position Increased by Choreo LLC

Key Points

• Choreo LLC increased its Targa Resources position by 84.7% in the third quarter, bringing its holdings to 9,211 shares valued at approximately $2.49 million. Institutional investors collectively own 92.13% of the company.
• Targa reported quarterly EPS of $3.54, exceeding the $2.83 consensus estimate, and declared a quarterly dividend of $1.25 per share, or $5.00 annually.
• Analysts maintain a broadly positive outlook, with the stock rated “Buy” and a consensus price target of $325.47, though its substantial debt burden and 5.01 debt-to-equity ratio remain key risks.

Choreo LLC lifted its position in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 84.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,211 shares of the pipeline company's stock after buying an additional 4,225 shares during the period. Choreo LLC's holdings in Targa Resources were worth $2,490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hardy Reed LLC lifted its position in Targa Resources by 1.0% during the first quarter. Hardy Reed LLC now owns 4,321 shares of the pipeline company's stock valued at $1,083,000 after acquiring an additional 41 shares during the last quarter. Versant Capital Management Inc boosted its stake in Targa Resources by 4.1% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the pipeline company's stock valued at $307,000 after acquiring an additional 45 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in Targa Resources by 2.3% in the second quarter. Premier Path Wealth Partners LLC now owns 2,003 shares of the pipeline company's stock valued at $537,000 after acquiring an additional 45 shares in the last quarter. River Wealth Advisors LLC grew its holdings in Targa Resources by 0.3% in the second quarter. River Wealth Advisors LLC now owns 19,457 shares of the pipeline company's stock worth $5,217,000 after purchasing an additional 50 shares during the last quarter. Finally, Bridgewater Advisors Inc. grew its holdings in Targa Resources by 2.7% in the first quarter. Bridgewater Advisors Inc. now owns 2,210 shares of the pipeline company's stock worth $520,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Targa Resources Stock Down 0.0%

TRGP stock opened at $314.97 on Monday. The firm has a 50 day moving average of $290.34 and a 200 day moving average of $258.86. The stock has a market capitalization of $67.54 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 1.30 and a beta of 0.76. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 5.01. Targa Resources, Inc. has a 52 week low of $151.24 and a 52 week high of $316.60.

Targa Resources (NYSE:TRGP - Get Free Report) last released its earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. Sell-side analysts forecast that Targa Resources, Inc. will post 11.42 earnings per share for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Friday, October 30th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, October 30th. Targa Resources's payout ratio is presently 47.80%.

Key Headlines Impacting Targa Resources

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

• Positive Sentiment: Analysts raised earnings forecasts across multiple periods. US Capital Advisors increased its estimates for third-quarter 2026 EPS to $2.53 from $2.51, raised 2027 quarterly forecasts, and lifted full-year 2027 EPS to $11.65 from $11.05. Its FY2028 estimate also rose to $12.87 from $12.73. The revisions suggest stronger expected operating performance and provide a positive catalyst for TRGP. MarketBeat analyst estimate updates
• Positive Sentiment: The upcoming earnings report could exceed expectations. Zacks said Targa has favorable conditions for a potential earnings beat, based on the combination of analyst estimate revisions and other earnings-prediction indicators. A stronger-than-expected report or outlook could support the stock, which is trading near its 52-week high. Zacks earnings expectations article
• Neutral Sentiment: Investors are awaiting quarterly results. Targa Resources was scheduled to announce quarterly earnings Thursday. The report will provide an important test of the elevated forecasts and may determine whether recent gains can be sustained. Targa Resources earnings announcement article
• Negative Sentiment: Balance-sheet leverage remains a key risk. A Seeking Alpha analysis argued that Targa should prioritize repairing its balance sheet. The company’s substantial debt burden could constrain financial flexibility, increase sensitivity to interest rates, and temper investor enthusiasm despite projected earnings growth. Seeking Alpha balance sheet analysis

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TRGP shares. Wolfe Research set a $335.00 price target on Targa Resources in a research report on Friday, August 7th. Morgan Stanley raised their price objective on Targa Resources from $343.00 to $359.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 16th. Jefferies Financial Group restated a "buy" rating and set a $326.00 target price on shares of Targa Resources in a research note on Thursday, October 15th. UBS Group restated a "buy" rating and set a $318.00 target price (up from $305.00) on shares of Targa Resources in a research note on Thursday, July 9th. Finally, Stifel Nicolaus set a $335.00 target price on Targa Resources in a research report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $325.47.

Insider Transactions at Targa Resources

In other news, Director Paul Chung sold 1,816 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $296.11, for a total transaction of $537,735.76. Following the sale, the director directly owned 44,000 shares of the company's stock, valued at $13,028,840. The trade was a 3.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director S Davis sold 2,400 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $299.67, for a total value of $719,208.00. Following the completion of the transaction, the director directly owned 1,529 shares in the company, valued at approximately $458,195.43. The trade was a 61.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 7,216 shares of company stock worth $2,127,634. Company insiders own 1.37% of the company's stock.

Targa Resources Company Profile

Targa Resources Corp. is a Houston-based midstream energy company that owns, operates and develops infrastructure used to gather, process, transport, store and fractionate natural gas and natural gas liquids (NGLs). Its operations support producers and other energy companies by connecting hydrocarbon supplies with domestic and international markets.

The company's services include natural gas gathering and processing, NGL recovery, fractionation and storage, crude oil gathering, and the transportation and logistics of NGLs and related products.

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