Targa Resources (NYSE:TRGP) Price Target Raised to $282.00

Targa Resources (NYSE:TRGP) had its price target raised by Wells Fargo & Company from $270.00 to $282.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 8.29% from the stock’s current price.

TRGP has been the topic of several other reports. Weiss Ratings restated a “buy (b)” rating on shares of Targa Resources in a report on Thursday, July 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $310.00 price objective on shares of Targa Resources in a research report on Tuesday, July 21st. Jefferies Financial Group set a $324.00 price objective on Targa Resources in a research report on Friday. Scotiabank boosted their price objective on Targa Resources from $249.00 to $257.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus set a $268.00 target price on Targa Resources in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Targa Resources currently has a consensus rating of “Moderate Buy” and an average target price of $292.75.

Targa Resources Stock Up 0.1%

TRGP opened at $260.42 on Friday. Targa Resources has a twelve month low of $144.14 and a twelve month high of $291.04. The company has a 50-day moving average price of $268.80 and a 200 day moving average price of $247.87. The company has a quick ratio of 0.62, a current ratio of 0.72 and a debt-to-equity ratio of 5.64. The company has a market cap of $55.90 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.32 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last released its earnings results on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.71. Targa Resources had a return on equity of 71.00% and a net margin of 12.87%.The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. Sell-side analysts expect that Targa Resources will post 10.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Targa Resources news, Director Charles R. Crisp sold 10,602 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the completion of the sale, the director owned 66,492 shares of the company’s stock, valued at $17,019,292.32. This trade represents a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Trading of Targa Resources

A number of hedge funds and other institutional investors have recently modified their holdings of TRGP. Atlantic Union Bankshares Corp purchased a new position in Targa Resources during the fourth quarter worth about $27,000. Miller Capital Partners Inc. purchased a new stake in shares of Targa Resources in the 4th quarter valued at approximately $30,000. Leonteq Securities AG acquired a new position in shares of Targa Resources in the 4th quarter worth approximately $31,000. CoreCap Advisors LLC lifted its holdings in shares of Targa Resources by 245.9% in the 2nd quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 91 shares during the last quarter. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Targa Resources during the 4th quarter worth approximately $37,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Targa Resources

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

• Positive Sentiment: Adjusted EBITDA reached a record $1.603 billion, up 38% year over year, while net income attributable to Targa rose 22% to $765 million. EPS of $3.54 exceeded the $2.83 consensus estimate. Record Permian volumes and higher NGL transportation, fractionation and LPG export activity supported the results. Targa beats second-quarter profit estimates on record Permian volumes
• Positive Sentiment: Management raised its outlook, now expecting full-year 2026 adjusted EBITDA toward the top of its $5.7 billion-$5.9 billion range. Targa also increased its quarterly dividend 25% to $1.25 per share, repurchased $80 million of stock and started operations at several growth projects, including the Train 11 fractionator and East Driver processing plant. Targa Resources Corp. Reports Record Second Quarter 2026 Financial Results
• Neutral Sentiment: TD Cowen raised its price target from $270 to $275 but maintained a “hold” rating, implying only modest additional upside and suggesting limited near-term valuation appeal. Targa Resources analyst price target
• Negative Sentiment: Revenue of $4.44 billion exceeded the prior-year figure but fell short of the roughly $4.90 billion analyst estimate. Investors may also be focused on Targa’s approximately $19.6 billion of debt, $4.5 billion in planned growth capital spending, higher depreciation and operating costs, and exposure to weak Permian gas pricing, including negative Waha prices during the quarter.

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.