The Manufacturers Life Insurance Company Takes Position in Targa Resources, Inc. $TRGP

The Manufacturers Life Insurance Company bought a new position in shares of Targa Resources, Inc. (NYSE:TRGP) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 374,589 shares of the pipeline company’s stock, valued at approximately $100,442,000.

Several other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its stake in Targa Resources by 57.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 34,805 shares of the pipeline company’s stock valued at $6,421,000 after acquiring an additional 12,640 shares in the last quarter. Hsbc Holdings PLC raised its position in Targa Resources by 7.0% during the fourth quarter. Hsbc Holdings PLC now owns 820,310 shares of the pipeline company’s stock valued at $151,331,000 after purchasing an additional 53,413 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in Targa Resources by 37.3% in the 1st quarter. Miller Howard Investments Inc. NY now owns 230,592 shares of the pipeline company’s stock worth $57,816,000 after buying an additional 62,652 shares during the last quarter. Raiffeisen Bank International AG lifted its holdings in shares of Targa Resources by 164.1% in the 4th quarter. Raiffeisen Bank International AG now owns 33,641 shares of the pipeline company’s stock worth $6,245,000 after acquiring an additional 20,905 shares during the last quarter. Finally, Icon Wealth Advisors LLC boosted its position in Targa Resources by 24.0% during the fourth quarter. Icon Wealth Advisors LLC now owns 19,649 shares of the pipeline company’s stock valued at $3,625,000 after buying an additional 3,797 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources News Summary

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

• Positive Sentiment: Targa appointed longtime midstream executive Brent Secrest as President of Logistics and Transportation and promoted Benjamin Branstetter to CFO, effective September 1. Secrest brings more than 20 years of industry experience, while Branstetter’s internal promotion supports operational and strategic continuity. Outgoing CFO William Byers will remain an adviser through year-end 2026 to facilitate the transition. Targa leadership announcement
• Positive Sentiment: Recent operating momentum remains supportive: Targa reported record second-quarter results, including adjusted EPS of $3.54 versus the $2.83 consensus estimate. The company also recently expanded 20-year ExxonMobil-linked Permian agreements and announced three gas-processing plants, a pipeline project and approximately $5.0 billion in 2026 net growth capital. Strong midstream earnings outlook
• Neutral Sentiment: Institutional positioning was mixed in the latest quarter: 546 investors added shares while 490 reduced holdings. Analysts’ median price target is $275, below the recent trading level, although several targets remain above $300, indicating divided valuation expectations.
• Negative Sentiment: Investors may be applying a discount for leadership uncertainty following Byers’ retirement and the relatively rapid reassignment of Branstetter after his recent move into the logistics role. The change is planned and includes an advisory handoff, but CFO transitions can still increase concerns about execution and capital allocation.
• Negative Sentiment: Sharp declines in crude prices on August 25 likely pressured energy shares broadly, including midstream companies, despite Targa’s largely fee-based business model. The stock also faces a cautionary insider-trading signal: reported open-market transactions over the past six months show sales and no purchases, including a director’s sale of 2,400 shares. Targa insider transaction

Targa Resources Stock Down 2.4%

Targa Resources stock opened at $287.10 on Wednesday. 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 $61.56 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.72. 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 stock has a fifty day moving average of $273.17 and a 200 day moving average of $255.72.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.71. Targa Resources had a net margin of 13.55% and a return on equity of 69.26%. The firm had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.90 billion. As a group, sell-side analysts predict that Targa Resources, Inc. will post 11.13 EPS for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 annualized dividend and a dividend yield of 1.7%. Targa Resources’s dividend payout ratio (DPR) is 47.80%.

Insider Buying and Selling

In other Targa Resources news, Director Waters S. Iv Davis sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $299.67, for a total transaction of $719,208.00. Following the sale, the director owned 1,529 shares in the company, valued at approximately $458,195.43. This trade represents a 61.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

TRGP has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating on shares of Targa Resources in a research note on Wednesday, May 27th. US Capital Advisors downgraded Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Royal Bank Of Canada increased their price target on shares of Targa Resources from $310.00 to $312.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Barclays raised their price objective on Targa Resources from $282.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Scotiabank raised their price objective on shares of Targa Resources from $249.00 to $257.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Targa Resources currently has an average rating of “Buy” and a consensus 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.