Latest news with #TargaResources
Yahoo
19 hours ago
- Business
- Yahoo
Wells Fargo Bumps Targa Resources Target to $205, Cites Steady Outlook and Permian Growth
Targa Resources Corp. (NYSE: TRGP) is one of the best cheap growth stocks to buy according to analysts. On August 8, 2025, Wells Fargo analyst Michael Blum reiterated an Overweight rating on Targa Resources and raised the firm's price target from $198 to $205. The rating was maintained following the company's second-quarter performance, which Wells Fargo considered to be in line with expectations. The updated price target reflected continued confidence in Targa's 2025 guidance as well as anticipated volume growth in the Permian Basin. While these forward-looking assessments were not directly quoted from the analyst, they align with broader interpretations of the firm's outlook. The reaffirmation suggests that Targa remains well positioned within the midstream space despite sector-wide volatility. Targa Resources Corp. (NYSE: TRGP), headquartered in Houston, Texas, is a leading provider of midstream natural gas and natural gas liquids services. The company operates a vast network of pipelines, processing plants, and storage facilities, primarily focused on the Permian Basin and other key shale regions in the United States. While we acknowledge the potential of TRGP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Yahoo
19 hours ago
- Business
- Yahoo
Targa Resources Signals Steady Leadership and Smart Liquidity Moves Amid Market Volatility
Targa Resources Corp. (NYSE:TRGP) is one of the best commodity stocks to buy, and here's why recent moves show they're not complacent. On August 1, 2025, the company quietly ushered in a leadership transition in its logistics arm, announcing that D. Scott Pryor will retire next March and internal veteran Benjamin J. Branstetter will step into the role. That internal elevation speaks volumes about continuity and confidence in the leadership bench. Before that, on July 28, the firm took care of business by extending its $600 million receivables securitization facility through August 2026, keeping a reliable, cost-effective liquidity line alive without rocking the economics. That kind of responsible financial housekeeping ensures operational flexibility and reflects sound planning amid energy market complexities. QiuJu Song/ Targa Resources Corp. (NYSE:TRGP) is a major midstream energy player in North America, owning and operating gathering, processing, transportation, and storage infrastructure for natural gas and natural gas liquids. The company enables energy delivery across key U.S. shale basins through its integrated midstream value chain. While we acknowledge the potential of TRGP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
7 days ago
- Business
- Reuters
Targa Resources beats profit estimates on record gas volumes, boosts share buyback program
Aug 7(Reuters) - Pipeline operator Targa Resources (TRGP.N), opens new tab beat second-quarter adjusted core profit estimates, driven by record-high volumes of natural gas and natural gas liquids transported through its system. The company also announced a new $1.0 billion share repurchase program in addition to its previous $1 billion plan. Shares were up 2.6% at $167.32 in premarket trading. Demand for natural gas has risen in recent quarters, driven by surging power demand from energy-hungry data centers and growing domestic consumption, helping firms like Targa, which transport natural gas. In April, the U.S. Energy Information Administration said U.S. power consumption will hit new record highs in 2025 and 2026, on the back of data centers dedicated to AI and cryptocurrency. The company's quarterly Permian natural gas inlet volumes rose about 11% to a record 6.28 billion cubic feet per day from a year earlier, while NGL pipeline transportation volumes surged about 23% also to a record 961,200 barrels per day. The Houston, Texas-based company's adjusted core profit rose 18% to $1.16 billion for the quarter ended June 30, from a year earlier, beating analysts' average estimate of $1.14 billion, according to LSEG data. Total revenue rose 20% to $4.26 billion, helped by higher NGL volumes and natural gas prices, though partially offset by lower NGL prices. Targa supplies natural gas and NGLs to key markets through its network of gathering and processing assets across the Permian Basin, Eagle Ford Shale, Bakken Shale and other major U.S. oil and gas regions. The company transports, processes and fractionates NGLs into component products like ethane, propane and butane.
Yahoo
21-07-2025
- Business
- Yahoo
Targa Resources Earnings Preview: What to Expect
Houston, Texas-based Targa Resources Corp. (TRGP) owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets. Valued at a market cap of $37.1 billion, the company primarily generates revenue from gathering, compressing, treating, processing, transporting, and selling natural gas and natural gas liquids (NGLs). It is expected to announce its fiscal Q2 earnings for 2025 before the market opens on Thursday, Aug. 7. Ahead of this event, analysts expect this energy company to report a profit of $1.93 per share, up 45.1% from $1.33 per share in the year-ago quarter. The company has topped Wall Street's earnings estimates in two of the last four quarters, while missing on two other occasions. In Q1, TRGP's EPS of $0.91 fell short of the forecasted figure by 55.4%. More News from Barchart Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. For fiscal 2025, analysts expect TRGP to report a profit of $7.19 per share, representing a 25.3% increase from $5.74 per share in fiscal 2024. Furthermore, its EPS is expected to grow 35.5% year-over-year to $9.74 in fiscal 2026. Shares of TRGP have rallied 25.7% over the past 52 weeks, outpacing both the S&P 500 Index's ($SPX) 13.6% return and the Energy Select Sector SPDR Fund's (XLE) 8% decline over the same time frame. On May 1, TRGP's shares closed down 5% following its Q1 earnings release. The company's revenue declined marginally year-over-year to $4.6 billion, primarily due to lower commodities sales and fell short of the consensus estimates by 13.2%. However, on the brighter side, its adjusted EBITDA advanced 22% year-over-year to a Q1 record of $1.2 billion. Moreover, its adjusted cash flow from operations improved 31.4% from the same period last year, reaching $970 million. Looking ahead, TRGP reaffirmed its fiscal 2025 adjusted EBITDA guidance of $4.7 billion to $4.9 billion. Wall Street analysts are highly optimistic about TRGP's stock, with an overall "Strong Buy" rating. Among 19 analysts covering the stock, 17 recommend "Strong Buy," one indicates a "Moderate Buy,' and one suggests a "Hold' rating. The mean price target for TRGP is $206.95, indicating a 20.9% potential upside from the current levels. On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
13-07-2025
- Business
- Business Insider
UBS Sticks to Its Buy Rating for Targa Resources (TRGP)
In a report released on July 10, Manav Gupta from UBS reiterated a Buy rating on Targa Resources, with a price target of $228.00. The company's shares closed last Friday at $171.90. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Gupta covers the Energy sector, focusing on stocks such as DT Midstream, Cheniere Energy, and Imperial Oil. According to TipRanks, Gupta has an average return of 1.4% and a 60.43% success rate on recommended stocks. In addition to UBS, Targa Resources also received a Buy from Barclays's Theresa Chen in a report issued on July 10. However, on July 7, TD Cowen initiated coverage with a Hold rating on Targa Resources (NYSE: TRGP). TRGP market cap is currently $37.29B and has a P/E ratio of 31.59. Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TRGP in relation to earlier this year. Most recently, in May 2025, D. Scott Pryor, the President – Logistics and Transportation of TRGP sold 20,000.00 shares for a total of $3,232,750.00.
