Cibc World Market Inc. Invests $48.61 Million in Targa Resources, Inc. $TRGP

Cibc World Market Inc. bought a new position in Targa Resources, Inc. (NYSE:TRGP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 181,275 shares of the pipeline company’s stock, valued at approximately $48,607,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TRGP. PNC Financial Services Group Inc. increased its holdings in shares of Targa Resources by 57.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 34,805 shares of the pipeline company’s stock valued at $6,421,000 after buying an additional 12,640 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Targa Resources by 7.0% during the 4th quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company’s stock worth $151,331,000 after acquiring an additional 53,413 shares in the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of Targa Resources by 37.3% during the 1st quarter. Miller Howard Investments Inc. NY now owns 230,592 shares of the pipeline company’s stock worth $57,816,000 after acquiring an additional 62,652 shares in the last quarter. Raiffeisen Bank International AG grew its holdings in shares of Targa Resources by 164.1% in the 4th quarter. Raiffeisen Bank International AG now owns 33,641 shares of the pipeline company’s stock worth $6,245,000 after acquiring an additional 20,905 shares during the last quarter. Finally, Icon Wealth Advisors LLC grew its holdings in shares of Targa Resources by 24.0% in the 4th quarter. Icon Wealth Advisors LLC now owns 19,649 shares of the pipeline company’s stock worth $3,625,000 after acquiring an additional 3,797 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Targa Resources Price Performance

TRGP opened at $300.01 on Monday. The firm has a market capitalization of $64.33 billion, a P/E ratio of 28.68, a PEG ratio of 1.43 and a beta of 0.72. The stock has a fifty day moving average of $271.98 and a 200-day moving average of $254.49. 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 12-month low of $144.14 and a 12-month high of $307.94.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.71. The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%. Equities analysts forecast that Targa Resources, Inc. will post 11.13 EPS for the current fiscal year.

Targa Resources Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on TRGP shares. UBS Group reaffirmed a “buy” rating and set a $318.00 target price on shares of Targa Resources in a report on Thursday, July 9th. Morgan Stanley lifted their price target on Targa Resources from $333.00 to $343.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. Wolfe Research set a $335.00 price objective on Targa Resources in a report on Friday, August 7th. US Capital Advisors lowered shares of Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Targa Resources in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $297.18.

Targa Resources News Roundup

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

• Positive Sentiment: Long-term ExxonMobil contracts strengthen growth visibility. Targa secured 20-year, fee-based agreements with ExxonMobil covering the Permian Delaware and Midland basins. The arrangements support new processing and takeaway infrastructure through 2046, potentially improving cash-flow visibility and extending Targa’s Permian growth runway. Targa Resources Secures 20-Year Deal With ExxonMobil
• Positive Sentiment: Jefferies initiated or reiterated a Buy rating. The endorsement provides additional analyst support for TRGP’s long-term growth and infrastructure outlook. Targa Resources Gets a Buy from Jefferies
• Neutral Sentiment: Higher capital spending raises execution risk. The ExxonMobil-related infrastructure buildout could create meaningful future growth, but increased 2026 spending may pressure near-term free cash flow and heighten construction and execution demands. How Targa’s ExxonMobil Deal Could Extend Its Permian Growth Runway
• Negative Sentiment: US Capital Advisors reduced multiple EPS forecasts. The firm cut estimates for late 2026, all quarters of 2027, FY2027 EPS from $11.75 to $11.05, and FY2028 EPS from $13.42 to $12.73. Although it maintained a “Moderate Buy” rating, the revisions suggest expectations for slower earnings growth.
• Negative Sentiment: Premium valuation may limit upside. TRGP is trading close to its 52-week high following an approximately 85% rally, while heavy spending and potentially moderating marketing gains have raised questions about whether the current valuation fully reflects future growth. Targa Resources’ Stock Near 52-Week High

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.