Targa Resources, Inc. $TRGP Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Targa Resources stake by 59.1% in the first quarter, acquiring 227,075 additional shares for a total of 611,375 shares valued at approximately $153.3 million. Institutional investors collectively own 92.13% of the company.
• Analysts remain broadly optimistic, with 17 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $288. Several firms recently raised their targets, while forecasts call for improved 2026 earnings.
• Targa’s upcoming quarterly report is the main near-term catalyst, with Zacks expecting a potential earnings beat against a $2.75-per-share estimate. The company also declared a $1.25 quarterly dividend, equivalent to a $5.00 annual payout and a 1.9% yield.

Royal Bank of Canada raised its stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 59.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 611,375 shares of the pipeline company's stock after purchasing an additional 227,075 shares during the quarter. Royal Bank of Canada owned 0.28% of Targa Resources worth $153,291,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. raised 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 valued at $6,421,000 after acquiring an additional 12,640 shares in the last quarter. Hsbc Holdings PLC boosted its position in Targa Resources by 7.0% during the fourth quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company's stock worth $151,331,000 after purchasing an additional 53,413 shares during the period. Miller Howard Investments Inc. NY grew its holdings in Targa Resources by 37.3% during the first quarter. Miller Howard Investments Inc. NY now owns 230,592 shares of the pipeline company's stock valued at $57,816,000 after purchasing an additional 62,652 shares during the last quarter. Raiffeisen Bank International AG grew its holdings in Targa Resources by 164.1% during 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 last quarter. Finally, Ninety One UK Ltd grew its holdings in Targa Resources by 12.6% during the fourth quarter. Ninety One UK Ltd now owns 97,731 shares of the pipeline company's stock valued at $18,031,000 after purchasing an additional 10,946 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

More 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 for Targa Resources to $2.75 from $2.53 and maintained a “Moderate Buy” rating. The revision signals greater confidence in the company’s near-term operating performance. MarketBeat analyst estimate update
• Positive Sentiment: US Capital Advisors also increased its FY2026 EPS forecast to $10.24 from $10.18, while Erste Group Bank raised its estimate to $10.94 from $10.80 and reiterated a “Buy” rating. The upward revisions reinforce the view that earnings momentum may be improving. MarketBeat earnings estimate revisions
• Positive Sentiment: Zacks expects Targa Resources to beat consensus estimates when it reports second-quarter results, citing favorable earnings-surprise indicators. Investors are focused on whether the company can exceed the expected $2.75-per-share result. Targa Resources expected earnings beat
• Neutral Sentiment: Targa Resources is scheduled to release its quarterly earnings on Thursday, making the upcoming report the primary near-term catalyst for TRGP. The stock carries a consensus “Moderate Buy” rating, although its valuation and elevated leverage could magnify volatility if results disappoint. Targa Resources earnings release schedule

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of analyst reports. Mizuho boosted their price objective on shares of Targa Resources from $260.00 to $300.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Citigroup reiterated a "buy" rating on shares of Targa Resources in a research note on Wednesday, May 27th. TD Cowen lifted their target price on shares of Targa Resources from $245.00 to $270.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of Targa Resources from $291.00 to $315.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Finally, Truist Financial upped their price target on shares of Targa Resources from $289.00 to $312.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Seventeen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $288.00.

Targa Resources Stock Up 1.4%

Shares of TRGP stock opened at $268.44 on Friday. Targa Resources, Inc. has a 12 month low of $144.14 and a 12 month high of $291.04. The firm has a market cap of $57.62 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 1.35 and a beta of 0.71. The stock has a 50 day moving average of $269.28 and a 200-day moving average of $244.91. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.64.

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

Targa Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. Targa Resources's dividend payout ratio is 50.56%.

Insiders Place Their Bets

In other Targa Resources news, Director Charles R. Crisp sold 10,602 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $255.96, for a total value of $2,713,687.92. Following the sale, the director directly owned 66,492 shares in the company, valued at $17,019,292.32. This trade represents a 13.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.37% of the stock is currently owned by company insiders.

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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