Jefferies Rates Targa Resources (TRGP) buy, $314 Price Target

Jefferies has reiterated its buy rating on Targa Resources Corp. (NYSE: TRGP), setting a price target of $314. Analyst Julien Dumoulin-Smith made this call on June 18, 2026. Shares of Targa were trading around $260.74 at the time of the rating.

Other Institutional Activity in Targa Resources

Several major funds have made notable changes to their holdings in Targa Resources. BlackRock, Inc. increased its stake by 772,731 shares, bringing its total to 20,541,573 shares valued at approximately $5.15 billion. Wellington Management Group LLP, however, reduced its position by 3,441,325 shares, now holding 15,043,461 shares worth about $3.77 billion. Vanguard Capital Management LLC initiated a new position with 13,950,353 shares valued at roughly $3.50 billion. State Street Corp added 931,048 shares, ending with 13,599,281 shares valued at $3.41 billion.

Targa Resources Corp. Stock Down 9.3%

Targa Resources Corp. trades on the NYSE under the ticker TRGP. It has a market cap of about $55.97 billion and a P/E ratio of 26.63, with a forward P/E of 21.19. The stock's beta is 0.71, indicating less volatility compared to the broader market. Over the past year, shares have ranged from $144.14 to $280.00. The 50-day moving average is $256.05, while the 200-day moving average is $206.45. The company's current ratio is 0.718, with a quick ratio of 0.528 and a debt-to-equity ratio of 585.25.

Recent Earnings

Targa Resources reported a revenue of $16.56 billion, though it saw a revenue decline of 10.2%. The company's net margin stands at 12.87%, and it has a return on equity of 74.10%. The next earnings report is expected on August 6, 2026.

Dividend

Targa Resources pays an annual dividend of $4.25, yielding 1.64% with a payout ratio of 40.86%.

Insider Buying and Selling at Targa Resources Corp.

Recent insider activity at Targa Resources includes several sales. CEO Matthew Meloy sold 15,000 shares on May 14, 2026. On May 12, 2026, Paul Chung sold 6,000 shares, and Charles Crisp sold 10,602 shares at an average price of $255.96. Earlier in the year, Chief Commercial Officer Robert Muraro sold 24,589 shares on March 5, 2026, at an average price of $241.34.

Analysts Set New Price Targets

Jefferies initiated its buy rating with a $314 price target on June 18, 2026. On May 27, 2026, Mizuho maintained a buy rating with a $300 target. Barclays kept its buy rating with a $262 target on May 14, 2026. Morgan Stanley maintained its buy rating with a $331 target on May 12, 2026. The consensus among analysts is a buy, with an average target price of $283.90 based on 20 opinions.

About Targa Resources

Targa Resources Corp., headquartered in Houston, Texas, operates a diverse set of infrastructure assets in North America. The company focuses on gathering, processing, transporting, and selling natural gas and natural gas liquids. It also provides logistics services to exporters and other end-users. Targa operates in two main segments: Gathering and Processing, and Logistics and Transportation. Under CEO Matthew J. Meloy, Targa employs about 3,570 people.

Bottom Line

Jefferies' reiterated buy rating and $314 price target for Targa Resources highlight continued confidence in the company's prospects. Investors track such analyst ratings as they can influence market sentiment. It's important to note that these ratings are based on past performance and expectations, and may not reflect the company's current situation.