The Manufacturers Life Insurance Company Buys New Shares in Targa Resources, Inc. $TRGP

The Manufacturers Life Insurance Company bought a new stake in Targa Resources, Inc. (NYSE:TRGP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 374,589 shares of the pipeline company's stock, valued at approximately $100,442,000. The Manufacturers Life Insurance Company owned about 0.17% of Targa Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TRGP. Atlantic Union Bankshares Corp bought a new stake in shares of Targa Resources in the 4th quarter valued at about $27,000. Miller Capital Partners Inc. bought a new stake in Targa Resources in the 4th quarter valued at $30,000. Leonteq Securities AG bought a new stake in shares of Targa Resources in the fourth quarter valued at about $31,000. Jones Financial Companies Lllp acquired a new position in shares of Targa Resources during the 2nd quarter worth approximately $32,000. Finally, Compass Financial Management LLC acquired a new stake in Targa Resources during the second quarter worth approximately $33,000. 92.13% of the stock is owned by institutional investors.

Key Stories Impacting Targa Resources

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

• Positive Sentiment: Targa appointed longtime midstream executive Brent Secrest as President of Logistics and Transportation and promoted Benjamin Branstetter to CFO, effective September 1. Secrest brings more than 20 years of industry experience, while Branstetter’s internal promotion supports operational and strategic continuity. Outgoing CFO William Byers will remain an adviser through year-end 2026 to facilitate the transition. Targa leadership announcement
• Positive Sentiment: Recent operating momentum remains supportive: Targa reported record second-quarter results, including adjusted EPS of $3.54 versus the $2.83 consensus estimate. The company also recently expanded 20-year ExxonMobil-linked Permian agreements and announced three gas-processing plants, a pipeline project and approximately $5.0 billion in 2026 net growth capital. Strong midstream earnings outlook
• Neutral Sentiment: Institutional positioning was mixed in the latest quarter: 546 investors added shares while 490 reduced holdings. Analysts’ median price target is $275, below the recent trading level, although several targets remain above $300, indicating divided valuation expectations.
• Negative Sentiment: Investors may be applying a discount for leadership uncertainty following Byers’ retirement and the relatively rapid reassignment of Branstetter after his recent move into the logistics role. The change is planned and includes an advisory handoff, but CFO transitions can still increase concerns about execution and capital allocation.
• Negative Sentiment: Sharp declines in crude prices on August 25 likely pressured energy shares broadly, including midstream companies, despite Targa’s largely fee-based business model. The stock also faces a cautionary insider-trading signal: reported open-market transactions over the past six months show sales and no purchases, including a director’s sale of 2,400 shares. Targa insider transaction

Insider Buying and Selling

In related news, Director Waters S. Iv Davis sold 2,400 shares of Targa Resources stock in a transaction on Friday, August 21st. The stock was sold at an average price of $299.67, for a total transaction of $719,208.00. Following the sale, the director directly owned 1,529 shares in the company, valued at approximately $458,195.43. This trade represents a 61.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

TRGP has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Targa Resources from $291.00 to $315.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Scotiabank increased their target price on Targa Resources from $249.00 to $257.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. Erste Group Bank started coverage on shares of Targa Resources in a research note on Thursday, June 25th. They set a "buy" rating for the company. Jefferies Financial Group lifted their price objective on Targa Resources from $324.00 to $345.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. 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 research report on Wednesday, July 15th. One 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $297.18.

Targa Resources Stock Down 2.4%

Shares of NYSE TRGP opened at $287.10 on Wednesday. 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 company has a 50-day moving average price of $273.17 and a 200-day moving average price of $255.72. The stock has a market capitalization of $61.56 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.41 and a beta of 0.72. 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 issued its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.90 billion. On average, equities research analysts forecast that Targa Resources, Inc. will post 11.13 EPS for the current fiscal year.

Targa Resources Dividend Announcement

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

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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