Targa Resources (NYSE:TRGP) Sets New 1-Year High – Here’s What Happened

Targa Resources, Inc. (NYSE:TRGP)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $251.32 and last traded at $250.7620, with a volume of 370863 shares traded. The stock had previously closed at $245.46.

Key Headlines Impacting Targa Resources

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

• Positive Sentiment: Truist Securities initiated coverage of Targa with a buy recommendation (reported as a “strong‑buy” by some outlets), bringing new institutional support and higher visibility for the stock. Truist Initiates Coverage
• Positive Sentiment: UBS published a forecast calling for strong price appreciation for Targa, which can attract momentum and buy‑side interest from funds that follow UBS views. UBS Price Forecast
• Positive Sentiment: US Capital Advisors raised earnings estimates across multiple periods (Q2 2026 to FY2028), lifting FY2026 EPS to $9.51 and raising Q2 and later‑year projections — a signal analysts see stronger cash flow ahead. (Research note published March 23; multiple estimate updates consolidated.)
• Neutral Sentiment: Broker consensus and street expectations for Q1 were published (Brokers Set Expectations), giving investors updated guidance to compare against the company’s upcoming quarter; this is informational and may increase short‑term volatility around the report. Brokers Set Q1 Expectations
• Negative Sentiment: Balance‑sheet metrics remain a risk: TRGP carries meaningful leverage (reported debt‑to‑equity ~5.2, current ratio and quick ratio under 1), which could amplify downside if commodity prices or volumes weaken. This raises sensitivity to cash flow and refinancing conditions.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TRGP shares. Stifel Nicolaus raised their price target on shares of Targa Resources from $213.00 to $243.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Citigroup increased their price objective on Targa Resources from $200.00 to $262.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Wells Fargo & Company raised their target price on Targa Resources from $248.00 to $264.00 and gave the company an “overweight” rating in a report on Friday, March 13th. BMO Capital Markets reaffirmed an “outperform” rating and set a $241.00 target price on shares of Targa Resources in a research report on Friday, February 20th. Finally, Mizuho upped their price target on Targa Resources from $207.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Targa Resources has an average rating of “Moderate Buy” and a consensus price target of $252.57.

Targa Resources Price Performance

The business has a 50 day moving average price of $220.50 and a two-hundred day moving average price of $187.35. The stock has a market cap of $53.71 billion, a PE ratio of 29.17, a P/E/G ratio of 1.61 and a beta of 0.84. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.55 and a current ratio of 0.67.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.16. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.12 billion. Targa Resources had a return on equity of 65.48% and a net margin of 10.88%. Research analysts expect that Targa Resources, Inc. will post 8.15 earnings per share for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $4.00 annualized dividend and a dividend yield of 1.6%. Targa Resources’s dividend payout ratio (DPR) is currently 46.57%.

Insider Activity at Targa Resources

In other news, Director Charles R. Crisp sold 1,359 shares of Targa Resources stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $229.30, for a total transaction of $311,618.70. Following the sale, the director directly owned 77,094 shares in the company, valued at $17,677,654.20. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Muraro sold 24,589 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the completion of the transaction, the insider directly owned 197,401 shares in the company, valued at $47,640,757.34. This trade represents a 11.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 104,929 shares of company stock worth $24,692,134. 1.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Targa Resources during the second quarter valued at $708,366,000. Wellington Management Group LLP lifted its position in shares of Targa Resources by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock valued at $3,291,012,000 after buying an additional 1,620,253 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Targa Resources by 48.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,290,099 shares of the pipeline company’s stock worth $607,023,000 after acquiring an additional 1,075,246 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Targa Resources in the 3rd quarter worth about $121,426,000. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in Targa Resources by 20.3% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 3,389,006 shares of the pipeline company’s stock worth $625,272,000 after acquiring an additional 572,562 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

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.