Targa Resources, Inc. $TRGP Stake Increased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs boosted its Targa Resources stake by 48.5% in the fourth quarter, bringing its holdings to 3.29 million shares worth about $607 million.
• Targa Resources recently raised its quarterly dividend to $1.25 per share, up from $1.00, for an annualized payout of $5.00 and a 1.9% yield.
• Analysts remain largely constructive: US Capital Advisors raised earnings estimates and kept a Moderate Buy rating, while the broader analyst consensus still leans Moderate Buy with an average target price of about $269.

Goldman Sachs Group Inc. increased its stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) by 48.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,290,099 shares of the pipeline company's stock after buying an additional 1,075,246 shares during the period. Goldman Sachs Group Inc. owned about 1.53% of Targa Resources worth $607,023,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Olistico Wealth LLC bought a new stake in shares of Targa Resources in the fourth quarter worth $27,000. Atlantic Union Bankshares Corp bought a new stake in shares of Targa Resources in the fourth quarter worth $27,000. Leonteq Securities AG bought a new stake in shares of Targa Resources in the fourth quarter worth $31,000. Godfrey Financial Associates Inc. bought a new stake in shares of Targa Resources in the fourth quarter worth $37,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Targa Resources in the fourth quarter worth $42,000. Institutional investors own 92.13% of the company's stock.

Targa Resources Price Performance

Shares of NYSE TRGP opened at $263.53 on Thursday. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $280.00. The firm's 50-day simple moving average is $252.65 and its 200 day simple moving average is $218.44. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.64. The stock has a market cap of $56.56 billion, a P/E ratio of 26.65, a P/E/G ratio of 1.35 and a beta of 0.72.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The pipeline company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates of $2.48 by ($0.27). Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.68 billion. Equities analysts expect that Targa Resources, Inc. will post 10.75 EPS for the current year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Thursday, April 30th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.9%. This is a boost from Targa Resources's previous quarterly dividend of $1.00. The ex-dividend date was Thursday, April 30th. Targa Resources's dividend payout ratio (DPR) is presently 50.56%.

Key Stories Impacting Targa Resources

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

• Positive Sentiment: US Capital Advisors boosted its near-term and long-term EPS forecasts for Targa Resources, including higher estimates for FY2026, FY2027, and FY2028, while maintaining a Moderate Buy rating.
• Positive Sentiment: The firm raised quarterly earnings estimates for Q2 2026, Q3 2026, Q4 2026, Q1 2027, Q2 2027, Q3 2027, and Q4 2027, reinforcing the view that TRGP’s earnings trend could improve over the next several years.
• Neutral Sentiment: A broader midstream industry backdrop is also constructive, with reports pointing to stronger natural gas demand from LNG exports and power needs such as data centers. Midstream: Robust Gas Backlogs Drive Growth Visibility
• Negative Sentiment: No major negative company-specific developments were included in the recent news, but investors may still remember that Targa previously missed recent quarterly EPS and revenue estimates, which can temper enthusiasm.

Insider Buying and Selling

In other Targa Resources news, Director Charles R. Crisp sold 10,602 shares of the business's stock in a transaction dated 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 approximately $17,019,292.32. The trade was a 13.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TRGP shares. Stifel Nicolaus set a $268.00 price target on shares of Targa Resources in a research note on Friday, May 8th. Morgan Stanley lifted their price target on shares of Targa Resources from $327.00 to $331.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. US Capital Advisors downgraded shares of Targa Resources from a "strong-buy" rating to a "moderate buy" rating in a report on Friday, May 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $281.00 price objective on shares of Targa Resources in a report on Tuesday, May 12th. Finally, UBS Group lifted their price objective on shares of Targa Resources from $228.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Fifteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Targa Resources has an average rating of "Moderate Buy" and an average target price of $269.21.

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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