Targa Resources (NYSE:TRGP) Director Sells $870,690.00 in Stock

Key Points

• Director Charles Crisp sold 3,000 Targa Resources shares for approximately $870,690, reducing his direct ownership by 4.59% to 62,292 shares.
• Targa shares recently traded near $294, close to their 52-week high of $307.94. The company reported quarterly EPS of $3.54, well above the $2.83 consensus estimate, although revenue came in below expectations.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of about $297.18; the company also pays a $1.25 quarterly dividend, yielding approximately 1.7%.

Targa Resources, Inc. (NYSE:TRGP - Get Free Report) Director Charles Crisp sold 3,000 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $290.23, for a total value of $870,690.00. Following the completion of the sale, the director directly owned 62,292 shares in the company, valued at approximately $18,079,007.16. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Targa Resources Stock Performance

Shares of NYSE TRGP traded up $7.47 during trading hours on Wednesday, hitting $294.38. 888,490 shares of the company's stock were exchanged, compared to its average volume of 1,336,687. The company's 50-day moving average price is $273.17 and its 200-day moving average price is $255.72. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $307.94. The stock has a market capitalization of $63.12 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.41 and a beta of 0.72. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.68.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. On average, sell-side analysts expect that Targa Resources, Inc. will post 11.13 earnings per share for the current fiscal year.

Targa Resources Dividend Announcement

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

Targa Resources News Roundup

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

• Positive Sentiment: J.P. Morgan reaffirmed its Buy rating on Targa Resources. The firm previously maintained a $315 price target, above the stock’s recent trading level, reinforcing confidence in Targa’s growth outlook. J.P. Morgan rating article
• Positive Sentiment: Recent fundamentals remain strong. Targa’s second-quarter adjusted EPS of $3.54 exceeded the $2.83 consensus estimate, while expanded 20-year ExxonMobil-linked Permian agreements, new gas-processing plants and pipeline investments support longer-term volume growth. Midstream earnings outlook
• Positive Sentiment: The company’s leadership changes are designed to support growth: Brent Secrest, a veteran midstream executive, will become President of Logistics and Transportation, while internal executive Benjamin Branstetter will become CFO. Retiring CFO William Byers will remain an adviser through year-end 2026, helping preserve transition continuity. Targa leadership announcement
• Neutral Sentiment: Analyst opinion is generally favorable, with a consensus rating of Buy and an average price target near $297. However, the reported median target of $275 is below recent trading levels, suggesting valuation concerns among some analysts.
• Negative Sentiment: Director Waters Iv Davis sold 2,400 shares for approximately $719,000, reducing his direct holdings by about 61%. Recent reported insider activity includes sales and no open-market purchases, which may temper investor enthusiasm. Targa insider sale
• Negative Sentiment: Broader energy-sector weakness, including a sharp crude-oil decline, recently pressured TRGP. Investors also reacted cautiously to the CFO transition, despite the absence of a new earnings miss or guidance reduction.

Institutional Trading of Targa Resources

Several institutional investors have recently bought and sold shares of the stock. Groupe la Francaise bought a new stake in Targa Resources in the second quarter valued at $494,000. First Eagle Investment Management LLC lifted its holdings in shares of Targa Resources by 381.0% during the second quarter. First Eagle Investment Management LLC now owns 101 shares of the pipeline company's stock valued at $27,000 after acquiring an additional 80 shares during the period. California State Teachers Retirement System boosted its stake in shares of Targa Resources by 37,275.4% in the 2nd quarter. California State Teachers Retirement System now owns 93,258,824 shares of the pipeline company's stock valued at $25,006,421,000 after purchasing an additional 93,009,305 shares in the last quarter. Readystate Asset Management LP acquired a new stake in shares of Targa Resources in the 2nd quarter valued at $5,282,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Targa Resources in the 2nd quarter worth about $344,000. Institutional investors and hedge funds own 92.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TRGP. Stifel Nicolaus set a $268.00 target price on Targa Resources in a research report on Friday, May 8th. Mizuho lifted their price objective on Targa Resources from $260.00 to $300.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. UBS Group restated a "buy" rating and issued a $318.00 target price on shares of Targa Resources in a research note on Thursday, July 9th. Citigroup reiterated a "buy" rating on shares of Targa Resources in a research note on Wednesday, May 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Targa Resources in a research note on Thursday, July 2nd. 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 stock. Based on data from MarketBeat.com, Targa Resources presently has an average rating of "Buy" and a consensus target price of $297.18.

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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