Targa Resources, IncNYSE: TRGP
Energy · Oil & Gas Storage & Transportation
$254.78
-2.04%
Vol: 743K
Research Digest
Friday, May 1, 2026
Targa Resources announced 25% dividend increase to $1.25 per share and closed $1.25B acquisition of Stakeholder Midstream; stock hit all-time high of $254.03.
Targa Resources hit all-time high of $254.03 after announcing 25% dividend increase to $1.25/share ($5.00 annualized) and closing $1.25B acquisition of Stakeholder Midstream providing Permian Basin gathering and processing. Stock up 63.2% over past 6 months and 36.25% YTD. Q1 earnings expected May 7 with analysts forecasting 181.3% YoY EPS increase to $2.56. Average analyst rating is Strong Buy with 12-month target of $250.21.
Previous Market Intelligence
13 daysApr 30Morgan Stanley names Targa Resources top pick with 327 dollar target; dividend increased 25 percentPositive▶
Morgan Stanley named Targa Resources (TRGP) top pick in midstream energy infrastructure on April 22, citing accelerating associated gas production in Permian Basin as new pipeline projects come online in H2 2026, maintaining Overweight rating with $327 price target. Goldman Sachs raised price target to $268 from $242 on April 20 with Buy rating. Company approved 25% quarterly dividend increase to $1.25 per share ($5.00 annually). Targa completed Stakeholder Midstream acquisition in January 2026 for $1.25 billion, enhancing market position. Multiple analyst Buy ratings with 12-month average target of $250.21, a 2.93% increase from latest price.
Apr 29Morgan Stanley names Targa Resources a top pick, raises analyst expectations on Permian Basin gas productionPositive▶
Targa Resources Corp (TRGP) named top pick in midstream energy infrastructure space by Morgan Stanley on April 22, 2026, with maintained Overweight rating and $327 price target. Goldman Sachs raised PT to $268 from $242 while keeping Buy. Company announced 25% dividend increase to $1.25 per share and closed $1.25 billion Stakeholder Midstream acquisition. Morgan Stanley cites acceleration potential for associated gas production in Permian as new pipeline takeaway projects come online in H2 2026.
Apr 16Targa Resources closed $1.25B Stakeholder Midstream acquisition and announced 25% dividend hike for 2026 common dividend.Positive▶
Targa completed strategic Permian Basin acquisition adding natural gas gathering and processing capacity. 25% dividend increase announced, coupled with strong 2025 results: $17.03B revenue (+3.95% YoY), $1.84B earnings (+45% YoY). Multiple analyst upgrades in April: Morgan Stanley raised to $327 from $298, RBC to $270 from $260, Truist to $285 from $279. Strong Buy consensus across 14 analysts.
Apr 15Morgan Stanley raised TRGP price target to $327 on April 7 on record $4.96 billion 2025 EBITDA and $5.4-5.6 billion 2026 guidance.Positive▶
Targa Resources reported record full-year 2025 adjusted EBITDA of $4.96 billion with Q4 2025 EPS of $2.51 beating expectations, and guided 2026 adjusted EBITDA of $5.4-5.6 billion with $2.5 billion expansion capital spending. Morgan Stanley lifted price target from $298 to $327 with Overweight rating on April 7, with UBS also raising target from $228 to $280 with Buy rating.
Apr 14Targa Resources completes $1.25B Stakeholder Midstream acquisition; RBC and Scotiabank raise price targets citing commodity outlook.Positive▶
Targa Resources completed its acquisition of Stakeholder Midstream for $1.25 billion in cash, expanding Permian Basin gathering and processing operations. The company reported record 2025 full-year adjusted EBITDA of $4.96 billion. 2026 guidance projects adjusted EBITDA of $5.4-$5.6 billion with $2.5 billion in expansion capital spending. RBC Capital raised its price target to $270 from $260, and Scotiabank raised its target to $249 from $246.
Apr 13Targa Resources price targets raised significantly with Morgan Stanley lifting to $327 and Barclays to $255, backed by record 2025 EBITDA of $4.96B.Positive▶
Targa reported record 2025 adjusted EBITDA of $4.96 billion with Q4 EPS of $2.51 beating expectations. 2026 EBITDA guidance $5.4-$5.6 billion with $2.5 billion expansion capex. Morgan Stanley raised PT from $298 to $327 and Barclays from $226 to $255 (both Overweight). Deprince Race & Zollo grew stake 34.8% in Q4 adding 38,420 shares. Next earnings April 30.
Apr 10Morgan Stanley raises Targa Resources price target to $327 with Overweight rating, citing record EBITDA and strong 2026 guidance.Positive▶
On April 10, Morgan Stanley upgraded Targa Resources with a price target increase from $298 to $327 and an Overweight rating. The upgrade reflects record full-year 2025 adjusted EBITDA of $4.96 billion and 2026 guidance of $5.4-$5.6 billion. TRGP has delivered a 40% rally over the past three months.
Apr 9Targa Resources Completes Stakeholder Midstream Acquisition, Analyst Upgrades ContinuePositive▶
Targa Resources completed Stakeholder Midstream acquisition on January 6, 2026, for $1.25B in cash, expanding Permian Basin operations. Morgan Stanley raised price target to $327 from $298 (Overweight), UBS to $280 from $228, Mizuho to $260 from $207. Truist initiated coverage with Buy rating (March 23). Q4 2025 EPS $2.51 beat estimates, driving record full-year results. Stock at $250.98 on April 7 reflects strong analyst sentiment (14 analysts, avg rating "Strong Buy"). Company priced $750M secondary offering February 2026. Significant upside potential from analyst targets, with UBS at $280 suggesting 11% upside and Morgan Stanley $327 suggesting 30% upside from current levels.
Apr 8Targa Resources Morgan Stanley upgrade April 7; record 2025 EBITDA $4.96B; Stakeholder Midstream acquisition closedPositive▶
Targa Resources hit new 52-week high on April 7 following Morgan Stanley analyst upgrade raising price target from $298 to $327. UBS raised target to $280 from $228, Mizuho to $260 from $207, and Truist initiated Buy rating. Company reported record fourth-quarter 2025 earnings of $2.51 per share beating expectations with record full-year adjusted EBITDA of $4.96 billion supported by higher Permian Basin volumes and effective marketing. Guidance for 2026 adjusted EBITDA of $5.4-$5.6 billion with $2.5 billion expansion capital spending. Closed $1.25B acquisition of Stakeholder Midstream for natural gas gathering/processing in Permian. TRGP rallied 40% in past three months vs. 31.6% energy sector rise. 14 analysts average Strong Buy rating. Midstream infrastructure provider with diversified portfolio.
Apr 7Record 2025 EBITDA $4.96B; 2026 guide $5.4-5.6B; 25% dividend hike to $5.00 announced.Positive▶
Targa reported record 2025 adjusted EBITDA $4.96B. 2026 EBITDA guidance $5.4-5.6B (+11%). 25% dividend hike to $5.00. Closed $1.25B Stakeholder Midstream acquisition Jan 6. Stock $226, +45% YTD. Morgan Stanley PT $298, UBS $280. 14 analysts rate Strong Buy.
Apr 6Institutional activity mixed as investment community assesses valuation.Neutral▶
Mitsubishi UFJ Trust & Banking reduced its Targa Resources stake by 4.53%, selling 25,956 shares while maintaining a substantial $100.98M position. TRGP trades at $180.93, down 1.38%, with a $38.935B market cap. UBS raised its price target to $280 from $228 (March 23), and Truist initiated coverage with a Buy rating on the same date. The company operates integrated infrastructure in gathering, processing, and logistics across North America. Recent analyst upgrades reflect confidence in the company's strategic positioning despite modest near-term trading weakness. Institutional flows remain mixed as large funds rebalance positions.
Apr 3Targa Resources projects record 2026 EBITDA of $5.4-5.6 billion while boosting dividend 25% and completing Stakeholder acquisition.Positive▶
Targa Resources reported record full-year 2025 adjusted EBITDA of $4.96 billion (up 20% YoY) and guided 2026 adjusted EBITDA of $5.4-5.6 billion. The company completed its acquisition of Stakeholder Midstream for $1.25 billion in cash. Targa announced a recommended $5.00 annual dividend per share, a 25% increase. Q4 2025 EPS of $2.51 beat consensus of $2.35 by $0.16. Analyst consensus is Moderate Buy with $252.57 average PT.
Apr 2Targa Resources announced 25% dividend increase to $5.00 annualized and guided 2026 EBITDA of $5.4-5.6B with 18 analysts maintaining Moderate Buy rating.Positive▶
Targa Resources announced intention to increase its quarterly common dividend to $1.25 per share ($5.00 annualized) effective Q1 2026, a 25% increase from 2025 levels. The company reported record adjusted EBITDA of approximately $5B in 2025 (+20% YoY) and guided 2026 EBITDA of $5.4-5.6B. Q1 2026 earnings release scheduled for April 30, 2026. Stock trading at $251.58 with 18 analysts assigning Moderate Buy consensus and average 12-month price target of $252.57.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| WMBWILLIAMS | $75.66 | -0.85% | +5.1% | 29.4x | 0.65 | $93.3B |
| KMIKINDER | $32.59 | -0.87% | -1.0% | 22.3x | 0.63 | $73.1B |
| OKEONEOK | $90.70 | -1.90% | +4.5% | 15.0x | 0.81 | $58.3B |
| TRGPTARGA | $254.78 | -2.04% | +5.9% | 22.4x | 0.81 | $55.9B |
| XOMEXXON | $153.41 | -0.60% | -5.5% | 15.2x | 0.29 | $641.5B |
| CVXCHEVRON | $190.83 | -1.28% | -2.8% | 16.5x | 0.59 | $385.1B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price above both MAs — bullish structure.