Targa Resources (NYSE:TRGP) Hits New 1-Year High – Time to Buy?

Targa Resources, Inc. (NYSE:TRGP) shares hit a new 52-week high during trading on Wednesday. The stock traded as high as $308.07 and last traded at $308.4420, with a volume of 210,267 shares traded. The stock had previously closed at $302.61.

Targa Resources News Roundup

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

• Positive Sentiment: Analysts raised forward earnings forecasts. US Capital Advisors increased its estimates for Q3 2026 EPS to $2.53, FY2027 EPS to $11.65 from $11.05, and FY2028 EPS to $12.87 from $12.73. Estimates for each quarter of 2027 were also lifted, suggesting stronger expected operating performance. MarketBeat analyst estimate updates
• Positive Sentiment: Potential earnings beat supports the bullish case. Zacks said Targa Resources has favorable factors that could help it exceed expectations in its upcoming report. The company previously exceeded quarterly EPS expectations, and the current full-year consensus estimate is $11.42 per share. Zacks earnings expectations article
• Positive Sentiment: Momentum remains favorable. Zacks identified TRGP as an attractive momentum candidate, reinforcing investor interest as the shares trade near their 52-week high and above their 50-day and 200-day moving averages. Zacks momentum article
• Neutral Sentiment: Quarterly earnings are the next major catalyst. Targa Resources is scheduled to announce results Thursday, which could determine whether the recent gains continue. Targa Resources earnings announcement article
• Negative Sentiment: Balance-sheet leverage is a key concern. A Seeking Alpha analysis argued that Targa should prioritize repairing its balance sheet. Its high debt burden could limit financial flexibility and temper valuation upside despite stronger earnings expectations. Seeking Alpha balance sheet analysis

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wolfe Research set a $335.00 price objective on Targa Resources in a research report on Friday, August 7th. UBS Group reiterated a “buy” rating and set a $318.00 price target (up from $305.00) on shares of Targa Resources in a report on Thursday, July 9th. Stifel Nicolaus set a $335.00 price objective on shares of Targa Resources in a report on Friday, October 9th. TD Cowen raised shares of Targa Resources from a “hold” rating to a “buy” rating and increased their price objective for the stock from $275.00 to $350.00 in a research report on Friday, September 18th. Finally, Royal Bank Of Canada upped their price target on Targa Resources from $312.00 to $338.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating and twenty have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $325.47.

Targa Resources Trading Up 2.1%

The business’s 50-day moving average is $290.08 and its two-hundred day moving average is $258.16. 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 market capitalization of $66.94 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.90 billion. As a group, equities research analysts anticipate that Targa Resources, Inc. will post 11.42 earnings per share for the current year.

Targa Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Friday, October 30th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, October 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. Targa Resources’s payout ratio is 47.80%.

Insider Buying and Selling

In related news, Director Waters S. Iv Davis sold 2,400 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $299.67, for a total value of $719,208.00. Following the completion of the sale, the director directly owned 1,529 shares in the company, valued at approximately $458,195.43. This represents a 61.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles R. Crisp sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $290.23, for a total value of $870,690.00. Following the transaction, the director owned 62,292 shares in the company, valued at approximately $18,079,007.16. This represents a 4.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 7,216 shares of company stock valued at $2,127,634. Insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Targa Resources

Hedge funds have recently bought and sold shares of the business. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new stake in shares of Targa Resources in the 3rd quarter valued at $276,000. Signature Equity Partners LLC lifted its stake in shares of Targa Resources by 10.4% during the third quarter. Signature Equity Partners LLC now owns 552 shares of the pipeline company’s stock valued at $149,000 after acquiring an additional 52 shares during the period. XML Financial LLC grew its position in shares of Targa Resources by 11.6% during the 3rd quarter. XML Financial LLC now owns 2,885 shares of the pipeline company’s stock worth $780,000 after buying an additional 300 shares during the period. Nippon Life Global Investors Americas Inc. boosted its position in shares of Targa Resources by 712.3% in the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 119,890 shares of the pipeline company’s stock worth $32,407,000 after purchasing an additional 105,130 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Targa Resources during the 3rd quarter worth about $20,769,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Targa Resources Company Profile

Targa Resources Corp. is a Houston-based midstream energy company that owns, operates and develops infrastructure used to gather, process, transport, store and fractionate natural gas and natural gas liquids (NGLs). Its operations support producers and other energy companies by connecting hydrocarbon supplies with domestic and international markets.

The company’s services include natural gas gathering and processing, NGL recovery, fractionation and storage, crude oil gathering, and the transportation and logistics of NGLs and related products.