Commerce Bank Acquires New Shares in Targa Resources, Inc. $TRGP

Commerce Bank acquired a new position in Targa Resources, Inc. (NYSE:TRGP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 39,101 shares of the pipeline company’s stock, valued at approximately $10,485,000.

A number of other hedge funds have also bought and sold shares of the business. Atlantic Union Bankshares Corp purchased a new stake in shares of Targa Resources during the 4th quarter valued at about $27,000. Miller Capital Partners Inc. bought a new position in Targa Resources during the fourth quarter valued at approximately $30,000. Leonteq Securities AG bought a new position in Targa Resources during the fourth quarter valued at approximately $31,000. CoreCap Advisors LLC boosted its holdings in Targa Resources by 245.9% in the second quarter. CoreCap Advisors LLC now owns 128 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. Finally, Virtus Advisers LLC bought a new stake in Targa Resources in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Key Headlines Impacting Targa Resources

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

• Positive Sentiment: Long-term ExxonMobil contracts strengthen growth visibility. Targa secured 20-year, fee-based agreements with ExxonMobil covering the Permian Delaware and Midland basins. The arrangements support new processing and takeaway infrastructure through 2046, potentially improving cash-flow visibility and extending Targa’s Permian growth runway. Targa Resources Secures 20-Year Deal With ExxonMobil
• Positive Sentiment: Jefferies initiated or reiterated a Buy rating. The endorsement provides additional analyst support for TRGP’s long-term growth and infrastructure outlook. Targa Resources Gets a Buy from Jefferies
• Neutral Sentiment: Higher capital spending raises execution risk. The ExxonMobil-related infrastructure buildout could create meaningful future growth, but increased 2026 spending may pressure near-term free cash flow and heighten construction and execution demands. How Targa’s ExxonMobil Deal Could Extend Its Permian Growth Runway
• Negative Sentiment: US Capital Advisors reduced multiple EPS forecasts. The firm cut estimates for late 2026, all quarters of 2027, FY2027 EPS from $11.75 to $11.05, and FY2028 EPS from $13.42 to $12.73. Although it maintained a “Moderate Buy” rating, the revisions suggest expectations for slower earnings growth.
• Negative Sentiment: Premium valuation may limit upside. TRGP is trading close to its 52-week high following an approximately 85% rally, while heavy spending and potentially moderating marketing gains have raised questions about whether the current valuation fully reflects future growth. Targa Resources’ Stock Near 52-Week High

Targa Resources Stock Up 0.3%

TRGP opened at $300.01 on Monday. The firm’s 50 day simple moving average is $271.98 and its two-hundred day simple moving average is $254.49. The company has a market capitalization of $64.33 billion, a PE ratio of 28.68, a PEG ratio of 1.43 and a beta of 0.72. Targa Resources, Inc. has a 1-year low of $144.14 and a 1-year high of $307.94. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 5.01.

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

Targa Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $1.25 per share. The ex-dividend date was Friday, July 31st. This represents a $5.00 annualized dividend and a yield of 1.7%. Targa Resources’s payout ratio is 47.80%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TRGP. Erste Group Bank assumed coverage on Targa Resources in a report on Thursday, June 25th. They set a “buy” rating on the stock. Wolfe Research set a $335.00 price objective on Targa Resources in a research report on Friday, August 7th. Morgan Stanley increased their target price on Targa Resources from $333.00 to $343.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Stifel Nicolaus set a $268.00 target price on Targa Resources in a research report on Friday, May 8th. Finally, Barclays boosted their price target on Targa Resources from $282.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $297.18.

Targa Resources Profile

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.