Targa ResourcesTRGP
Market Cap: $32.1B
About: Targa Resources is a midstream firm that primarily operates gathering and processing assets with substantial positions in the Permian, Stack, Scoop, and Bakken plays. It has fractionation capacity at Mont Belvieu and operates a liquefied petroleum gas export terminal. The Grand Prix natural gas liquids pipeline is another important asset.
Employees: 3,186
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
96% more first-time investments, than exits
New positions opened: 102 | Existing positions closed: 52
12% more capital invested
Capital invested by funds: $23B [Q1] → $25.7B (+$2.76B) [Q2]
7% more funds holding
Funds holding: 676 [Q1] → 726 (+50) [Q2]
5% more funds holding in top 10
Funds holding in top 10: 19 [Q1] → 20 (+1) [Q2]
8% more call options, than puts
Call options by funds: $173M | Put options by funds: $161M
1% more repeat investments, than reductions
Existing positions increased: 261 | Existing positions reduced: 258
1.97% less ownership
Funds ownership: 92.06% [Q1] → 90.09% (-1.97%) [Q2]
Research analyst outlook
12 Wall Street Analysts provided 1 year price targets over the past 3 months
12 analyst ratings
RBC Capital Elvira Scotto 76% 1-year accuracy 13 / 17 met price target | 4%upside $153 | Outperform Maintained | 13 Aug 2024 |
Truist Securities Neal Dingmann 31% 1-year accuracy 40 / 131 met price target | 2%upside $150 | Buy Maintained | 5 Aug 2024 |
Wells Fargo Michael Blum 85% 1-year accuracy 17 / 20 met price target | 4%upside $153 | Overweight Maintained | 5 Aug 2024 |
Goldman Sachs John Mackay 73% 1-year accuracy 16 / 22 met price target | 0%upside $147 | Buy Maintained | 2 Aug 2024 |
Seaport Global Sunil Sibal 100% 1-year accuracy 3 / 3 met price target | 4%downside $141 | Buy Maintained | 30 Jul 2024 |
Financial journalist opinion
Based on 4 articles about TRGP published over the past 30 days