Targa Resources (NYSE:TRGP) Director Charles Crisp Sells 3,000 Shares

Targa Resources, Inc. (NYSE:TRGP) Director Charles Crisp sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total transaction of $870,690.00. Following the sale, the director directly owned 62,292 shares in the company, valued at $18,079,007.16. This represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Targa Resources Price Performance

Shares of NYSE TRGP traded up $7.47 during mid-day trading on Wednesday, hitting $294.38. 888,490 shares of the stock were exchanged, compared to its average volume of 1,336,687. Targa Resources, Inc. has a twelve month low of $144.14 and a twelve month high of $307.94. The stock’s fifty day simple moving average is $273.17 and its two-hundred day simple moving average is $255.72. 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 company has a market cap of $63.12 billion, a P/E ratio of 28.14, a PEG ratio of 1.41 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last announced its earnings results on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, topping the consensus estimate 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%. As a group, analysts forecast that Targa Resources, Inc. will post 11.13 EPS for the current fiscal year.

Targa Resources Announces Dividend

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

Key Targa Resources News

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

• Positive Sentiment: J.P. Morgan reaffirmed its Buy rating on Targa Resources. The firm previously maintained a $315 price target, above the stock’s recent trading level, reinforcing confidence in Targa’s growth outlook. J.P. Morgan rating article
• Positive Sentiment: Recent fundamentals remain strong. Targa’s second-quarter adjusted EPS of $3.54 exceeded the $2.83 consensus estimate, while expanded 20-year ExxonMobil-linked Permian agreements, new gas-processing plants and pipeline investments support longer-term volume growth. Midstream earnings outlook
• Positive Sentiment: The company’s leadership changes are designed to support growth: Brent Secrest, a veteran midstream executive, will become President of Logistics and Transportation, while internal executive Benjamin Branstetter will become CFO. Retiring CFO William Byers will remain an adviser through year-end 2026, helping preserve transition continuity. Targa leadership announcement
• Neutral Sentiment: Analyst opinion is generally favorable, with a consensus rating of Buy and an average price target near $297. However, the reported median target of $275 is below recent trading levels, suggesting valuation concerns among some analysts.
• Negative Sentiment: Director Waters Iv Davis sold 2,400 shares for approximately $719,000, reducing his direct holdings by about 61%. Recent reported insider activity includes sales and no open-market purchases, which may temper investor enthusiasm. Targa insider sale
• Negative Sentiment: Broader energy-sector weakness, including a sharp crude-oil decline, recently pressured TRGP. Investors also reacted cautiously to the CFO transition, despite the absence of a new earnings miss or guidance reduction.

Institutional Investors Weigh In On Targa Resources

Several hedge funds and other institutional investors have recently made changes to their positions in TRGP. First Eagle Investment Management LLC lifted its stake in shares of Targa Resources by 381.0% during the second quarter. First Eagle Investment Management LLC now owns 101 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 80 shares during the period. Jones Financial Companies Lllp acquired a new stake in Targa Resources in the second quarter worth about $32,000. Compass Financial Management LLC acquired a new stake in Targa Resources in the second quarter worth about $33,000. CoreCap Advisors LLC raised its holdings in Targa Resources by 245.9% during the 2nd quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Finally, Virtus Advisers LLC bought a new stake in Targa Resources during the 2nd quarter worth about $35,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TRGP has been the subject of a number of research reports. Stifel Nicolaus set a $268.00 target price on Targa Resources in a research note on Friday, May 8th. Wells Fargo & Company upped their price target on shares of Targa Resources from $270.00 to $282.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Morgan Stanley increased their price objective on shares of Targa Resources from $333.00 to $343.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Mizuho raised their price objective on shares of Targa Resources from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $297.18.

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.