13,566 Shares in Targa Resources, Inc. $TRGP Bought by Manhattan West Asset Management LLC

Manhattan West Asset Management LLC bought a new position in Targa Resources, Inc. (NYSE:TRGP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 13,566 shares of the pipeline company’s stock, valued at approximately $3,638,000.

Other large investors have also recently bought and sold shares of the company. Keating Financial Advisory Services Inc. bought a new position in Targa Resources in the second quarter valued at about $91,000. Encore Global Management LP acquired a new position in shares of Targa Resources in the second quarter valued at approximately $536,000. OneAscent Investment Solutions LLC bought a new position in Targa Resources in the 2nd quarter valued at approximately $632,000. OneAscent Wealth Management LLC bought a new position in shares of Targa Resources during the second quarter valued at $419,000. Finally, OneAscent Family Office LLC bought a new position in Targa Resources during the 2nd quarter worth $299,000. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Trading Down 0.7%

Shares of TRGP stock opened at $300.01 on Friday. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $307.94. The company has a debt-to-equity ratio of 5.01, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a 50 day simple moving average of $271.98 and a two-hundred day simple moving average of $254.10. The company has a market cap of $64.33 billion, a P/E ratio of 28.68, a PEG ratio of 1.46 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last posted its quarterly earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.71. The firm had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Targa Resources had a return on equity of 69.26% and a net margin of 13.55%. Research analysts forecast that Targa Resources, Inc. will post 11.05 earnings per share for the current year.

Targa Resources Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on TRGP shares. JPMorgan Chase & Co. lifted their target price on Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Royal Bank Of Canada raised their price objective on Targa Resources from $310.00 to $312.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Targa Resources in a research note on Thursday, July 2nd. Jefferies Financial Group upped their target price on Targa Resources from $324.00 to $345.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays raised their price target on shares of Targa Resources from $282.00 to $284.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $297.18.

Key Targa Resources News

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

About Targa Resources

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.