OneAscent Investment Solutions LLC Makes New Investment in Targa Resources, Inc. $TRGP

OneAscent Investment Solutions LLC acquired a new position in shares of Targa Resources, Inc. (NYSE:TRGP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,358 shares of the pipeline company’s stock, valued at approximately $632,000.

Several other large investors also recently made changes to their positions in TRGP. BlackRock Inc. grew its stake in shares of Targa Resources by 1.4% in the second quarter. BlackRock Inc. now owns 20,832,687 shares of the pipeline company’s stock valued at $5,586,077,000 after buying an additional 291,114 shares in the last quarter. State Street Corp raised its position in Targa Resources by 1.3% during the fourth quarter. State Street Corp now owns 12,668,233 shares of the pipeline company’s stock worth $2,337,289,000 after acquiring an additional 162,878 shares in the last quarter. Geode Capital Management LLC raised its position in Targa Resources by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 5,867,345 shares of the pipeline company’s stock worth $1,078,497,000 after acquiring an additional 45,495 shares in the last quarter. Norges Bank acquired a new stake in Targa Resources in the fourth quarter valued at $735,758,000. Finally, Tortoise Capital Advisors L.L.C. lifted its stake in Targa Resources by 20.3% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 3,389,006 shares of the pipeline company’s stock valued at $625,272,000 after acquiring an additional 572,562 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

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 Trading Down 0.7%

TRGP stock opened at $300.01 on Friday. The company has a debt-to-equity ratio of 5.01, a current ratio of 0.77 and a quick ratio of 0.68. The company has a fifty day moving average price of $271.98 and a two-hundred day moving average price of $254.10. Targa Resources, Inc. has a one year low of $144.14 and a one year high of $307.94. The stock has a market cap of $64.33 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, beating the consensus estimate of $2.83 by $0.71. The firm had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.90 billion. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. Equities analysts anticipate that Targa Resources, Inc. will post 11.05 EPS 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 issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. Targa Resources’s payout ratio is presently 47.80%.

Analysts Set New Price Targets

TRGP has been the subject of a number of analyst reports. Seaport Research Partners restated a “neutral” rating on shares of Targa Resources in a research note on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Targa Resources in a research note on Thursday, July 2nd. Wells Fargo & Company lifted their price target on Targa Resources from $270.00 to $282.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Jefferies Financial Group lifted their price target on Targa Resources from $324.00 to $345.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Erste Group Bank started coverage on Targa Resources in a research report on Thursday, June 25th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Targa Resources currently has an average rating of “Buy” and an average price target of $297.18.

Targa Resources 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.