US Capital Advisors Downgrades Targa Resources (NYSE:TRGP) to Hold

US Capital Advisors lowered shares of Targa Resources (NYSE:TRGP) from a moderate buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports. US Capital Advisors also issued estimates for Targa Resources’ Q4 2024 earnings at $1.88 EPS, FY2024 earnings at $6.25 EPS, Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $1.87 EPS, Q3 2025 earnings at $1.97 EPS, Q4 2025 earnings at $2.17 EPS, FY2025 earnings at $7.95 EPS and FY2026 earnings at $9.27 EPS.

Several other brokerages have also weighed in on TRGP. Stifel Nicolaus lifted their price target on Targa Resources from $190.00 to $224.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Truist Financial upped their target price on Targa Resources from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Argus raised shares of Targa Resources to a “strong-buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company upped their price objective on shares of Targa Resources from $153.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, UBS Group lifted their target price on shares of Targa Resources from $182.00 to $246.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Targa Resources has an average rating of “Buy” and a consensus target price of $176.50.

Targa Resources Trading Up 1.2 %

Targa Resources stock opened at $203.42 on Tuesday. Targa Resources has a 52 week low of $81.03 and a 52 week high of $209.87. The stock has a 50-day moving average price of $171.40 and a 200 day moving average price of $145.62. The company has a quick ratio of 0.61, a current ratio of 0.77 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $44.36 billion, a price-to-earnings ratio of 36.78, a price-to-earnings-growth ratio of 0.80 and a beta of 2.24.

Targa Resources (NYSE:TRGP) last released its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the firm earned $0.97 EPS. Sell-side analysts anticipate that Targa Resources will post 6.23 EPS for the current year.

Targa Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $3.00 dividend on an annualized basis and a yield of 1.47%. Targa Resources’s payout ratio is 54.25%.

Insider Buying and Selling at Targa Resources

In other news, insider Robert Muraro sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $146.20, for a total value of $365,500.00. Following the completion of the sale, the insider now owns 174,451 shares of the company’s stock, valued at $25,504,736.20. This represents a 1.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joe Bob Perkins sold 150,000 shares of Targa Resources stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total transaction of $23,329,500.00. Following the sale, the director now directly owns 110,470 shares in the company, valued at approximately $17,181,399.10. The trade was a 57.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,760 shares of company stock worth $30,026,712 in the last three months. 1.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Targa Resources

A number of hedge funds have recently modified their holdings of TRGP. Tidal Investments LLC raised its holdings in Targa Resources by 326.3% in the 3rd quarter. Tidal Investments LLC now owns 13,572 shares of the pipeline company’s stock valued at $2,009,000 after buying an additional 10,388 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Targa Resources during the third quarter valued at about $145,000. Sfmg LLC raised its stake in shares of Targa Resources by 3.3% in the 3rd quarter. Sfmg LLC now owns 3,131 shares of the pipeline company’s stock valued at $463,000 after acquiring an additional 100 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Targa Resources by 9.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 16,933 shares of the pipeline company’s stock valued at $2,506,000 after acquiring an additional 1,463 shares during the period. Finally, Fulcrum Equity Management lifted its holdings in shares of Targa Resources by 7.1% in the 3rd quarter. Fulcrum Equity Management now owns 3,135 shares of the pipeline company’s stock worth $464,000 after acquiring an additional 208 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.