Targa Resources (NYSE:TRGP) Stock Rating Lowered by US Capital Advisors

US Capital Advisors lowered shares of Targa Resources (NYSE:TRGP) from a moderate buy rating to a hold rating in a report published 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.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of Targa Resources from $172.00 to $199.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Wells Fargo & Company upped their price target on Targa Resources from $153.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Argus upgraded shares of Targa Resources to a “strong-buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley lifted their price target on shares of Targa Resources from $173.00 to $202.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, The Goldman Sachs Group raised their price objective on shares of Targa Resources from $147.00 to $163.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $176.50.

Targa Resources Stock Performance

Shares of NYSE:TRGP opened at $204.30 on Tuesday. Targa Resources has a twelve month low of $81.03 and a twelve month high of $209.87. The firm has a market cap of $44.55 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 0.79 and a beta of 2.24. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.61 and a current ratio of 0.77. The business has a fifty day moving average of $174.40 and a 200-day moving average of $147.03.

Targa Resources (NYSE:TRGP) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.17. Targa Resources had a net margin of 7.65% and a return on equity of 27.59%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. On average, equities research analysts predict that Targa Resources will post 6.28 EPS for the current fiscal year.

Targa Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.75 per share. The ex-dividend date was Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 1.47%. Targa Resources’s dividend payout ratio is presently 54.25%.

Insiders Place Their Bets

In other Targa Resources news, insider D. Scott Pryor sold 30,000 shares of Targa Resources stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.33, for a total value of $5,709,900.00. Following the sale, the insider now owns 82,979 shares of the company’s stock, valued at $15,793,393.07. This trade represents a 26.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joe Bob Perkins sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $155.53, for a total value of $23,329,500.00. Following the completion of the sale, the director now owns 110,470 shares in the company, valued at $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 185,760 shares of company stock worth $30,026,712 over the last ninety days. 1.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TRGP. Franklin Resources Inc. boosted its stake in shares of Targa Resources by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 524,336 shares of the pipeline company’s stock worth $77,607,000 after acquiring an additional 48,600 shares during the period. Tidal Investments LLC grew its stake in shares of Targa Resources by 326.3% in the third quarter. Tidal Investments LLC now owns 13,572 shares of the pipeline company’s stock valued at $2,009,000 after acquiring an additional 10,388 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Targa Resources in the third quarter valued at approximately $145,000. Sfmg LLC lifted its position in shares of Targa Resources by 3.3% during 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. Finally, Sanctuary Advisors LLC lifted its position in Targa Resources by 9.5% during the third quarter. Sanctuary Advisors LLC now owns 16,933 shares of the pipeline company’s stock worth $2,506,000 after purchasing an additional 1,463 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

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.