Targa Resources (NYSE:TRGP) Given New $282.00 Price Target at Wells Fargo & Company

Targa Resources (NYSE:TRGP) had its price target lifted by equities researchers at Wells Fargo & Company from $270.00 to $282.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 8.29% from the stock’s current price.

A number of other brokerages have also recently commented on TRGP. Stifel Nicolaus set a $268.00 price target on Targa Resources in a research report on Friday, May 8th. Scotiabank increased their price objective on Targa Resources from $249.00 to $257.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. US Capital Advisors cut Targa Resources from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. TD Cowen raised their price objective on Targa Resources from $270.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their target price on Targa Resources from $291.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Targa Resources currently has an average rating of “Moderate Buy” and an average target price of $292.75.

Targa Resources Trading Up 0.1%

NYSE TRGP opened at $260.42 on Friday. Targa Resources has a 12-month low of $144.14 and a 12-month high of $291.04. The company has a fifty day simple moving average of $268.80 and a two-hundred day simple moving average of $247.87. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.64. The stock has a market cap of $55.90 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.32 and a beta of 0.72.

Targa Resources (NYSE:TRGP) last announced its quarterly earnings data on Thursday, August 6th. The pipeline company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.71. Targa Resources had a net margin of 12.87% and a return on equity of 71.00%. The firm had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.90 billion. On average, analysts forecast that Targa Resources will post 10.84 earnings per share for the current year.

Insiders Place Their Bets

In other Targa Resources news, Director Charles R. Crisp sold 10,602 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $255.96, for a total transaction of $2,713,687.92. Following the sale, the director directly owned 66,492 shares of the company’s stock, valued at approximately $17,019,292.32. This trade represents a 13.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.37% of the company’s stock.

Institutional Trading of Targa Resources

A number of hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Targa Resources by 6.6% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 515,477 shares of the pipeline company’s stock worth $138,220,000 after acquiring an additional 31,926 shares during the period. Simplicity Wealth LLC lifted its holdings in Targa Resources by 14.9% in the second quarter. Simplicity Wealth LLC now owns 1,194 shares of the pipeline company’s stock valued at $320,000 after acquiring an additional 155 shares during the period. Nippon Life Global Investors Americas Inc. boosted its position in Targa Resources by 39.4% in the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 14,760 shares of the pipeline company’s stock worth $3,958,000 after purchasing an additional 4,170 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Targa Resources in the 2nd quarter worth approximately $7,872,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Targa Resources by 18.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 562,038 shares of the pipeline company’s stock worth $150,705,000 after purchasing an additional 87,722 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Trending Headlines about Targa Resources

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

• Positive Sentiment: Adjusted EBITDA reached a record $1.603 billion, up 38% year over year, while net income attributable to Targa rose 22% to $765 million. EPS of $3.54 exceeded the $2.83 consensus estimate. Record Permian volumes and higher NGL transportation, fractionation and LPG export activity supported the results. Targa beats second-quarter profit estimates on record Permian volumes
• Positive Sentiment: Management raised its outlook, now expecting full-year 2026 adjusted EBITDA toward the top of its $5.7 billion-$5.9 billion range. Targa also increased its quarterly dividend 25% to $1.25 per share, repurchased $80 million of stock and started operations at several growth projects, including the Train 11 fractionator and East Driver processing plant. Targa Resources Corp. Reports Record Second Quarter 2026 Financial Results
• Neutral Sentiment: TD Cowen raised its price target from $270 to $275 but maintained a “hold” rating, implying only modest additional upside and suggesting limited near-term valuation appeal. Targa Resources analyst price target
• Negative Sentiment: Revenue of $4.44 billion exceeded the prior-year figure but fell short of the roughly $4.90 billion analyst estimate. Investors may also be focused on Targa’s approximately $19.6 billion of debt, $4.5 billion in planned growth capital spending, higher depreciation and operating costs, and exposure to weak Permian gas pricing, including negative Waha prices during the quarter.

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.