Targa Resources (NYSE:TRGP) Sets New 1-Year High – Here’s What Happened

Targa Resources, Inc. (NYSE:TRGP) reached a new 52-week high during trading on Thursday . The stock traded as high as $251.32 and last traded at $250.7620, with a volume of 370863 shares changing hands. The stock had previously closed at $245.46.

More Targa Resources News

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

• Positive Sentiment: Truist Securities initiated coverage of Targa with a buy recommendation (reported as a “strong‑buy” by some outlets), bringing new institutional support and higher visibility for the stock. Truist Initiates Coverage
• Positive Sentiment: UBS published a forecast calling for strong price appreciation for Targa, which can attract momentum and buy‑side interest from funds that follow UBS views. UBS Price Forecast
• Positive Sentiment: US Capital Advisors raised earnings estimates across multiple periods (Q2 2026 to FY2028), lifting FY2026 EPS to $9.51 and raising Q2 and later‑year projections — a signal analysts see stronger cash flow ahead. (Research note published March 23; multiple estimate updates consolidated.)
• Neutral Sentiment: Broker consensus and street expectations for Q1 were published (Brokers Set Expectations), giving investors updated guidance to compare against the company’s upcoming quarter; this is informational and may increase short‑term volatility around the report. Brokers Set Q1 Expectations
• Negative Sentiment: Balance‑sheet metrics remain a risk: TRGP carries meaningful leverage (reported debt‑to‑equity ~5.2, current ratio and quick ratio under 1), which could amplify downside if commodity prices or volumes weaken. This raises sensitivity to cash flow and refinancing conditions.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TRGP. Royal Bank Of Canada lifted their target price on shares of Targa Resources from $218.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Scotiabank restated an “outperform” rating on shares of Targa Resources in a research note on Tuesday, February 24th. TD Cowen raised their price objective on shares of Targa Resources from $192.00 to $220.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $242.00 price objective on shares of Targa Resources in a research note on Friday, February 20th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $241.00 target price on shares of Targa Resources in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.57.

Targa Resources Stock Up 1.8%

The stock has a fifty day simple moving average of $220.50 and a two-hundred day simple moving average of $187.35. The firm has a market cap of $53.71 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 5.21.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4.12 billion. As a group, sell-side analysts expect that Targa Resources, Inc. will post 8.15 EPS for the current fiscal year.

Targa Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $1.00 dividend. The ex-dividend date was Friday, January 30th. This represents a $4.00 annualized dividend and a yield of 1.6%. Targa Resources’s dividend payout ratio is currently 46.57%.

Insider Transactions at Targa Resources

In other news, President Jennifer R. Kneale sold 29,509 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $230.12, for a total value of $6,790,611.08. Following the transaction, the president owned 235,260 shares of the company’s stock, valued at approximately $54,138,031.20. This represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Muraro sold 24,589 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $241.34, for a total value of $5,934,309.26. Following the completion of the sale, the insider owned 197,401 shares in the company, valued at $47,640,757.34. This trade represents a 11.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Targa Resources

A number of institutional investors have recently added to or reduced their stakes in TRGP. Woodline Partners LP increased its position in shares of Targa Resources by 40.7% in the first quarter. Woodline Partners LP now owns 18,423 shares of the pipeline company’s stock worth $3,693,000 after purchasing an additional 5,327 shares during the last quarter. Focus Partners Wealth lifted its position in Targa Resources by 157.4% during the first quarter. Focus Partners Wealth now owns 3,931 shares of the pipeline company’s stock valued at $788,000 after purchasing an additional 2,404 shares during the last quarter. Prudential Financial Inc. lifted its position in Targa Resources by 6.1% during the second quarter. Prudential Financial Inc. now owns 125,969 shares of the pipeline company’s stock valued at $21,929,000 after purchasing an additional 7,286 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Targa Resources by 2.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 8,431 shares of the pipeline company’s stock worth $1,468,000 after buying an additional 176 shares in the last quarter. Finally, XTX Topco Ltd grew its stake in Targa Resources by 74.4% in the 2nd quarter. XTX Topco Ltd now owns 12,183 shares of the pipeline company’s stock worth $2,121,000 after buying an additional 5,196 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

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.