Barclays Reiterates Buy Rating on Targa Resources
Barclays maintains its buy stance on Targa Resources with a $270 price target, a 0.77% downside from the current price.
Key Points
- Barclays reiterated its buy rating on Targa Resources, setting a price target of $270 on June 23, 2026.
- Barclays's $270 price target implies 0.77% downside from Targa Resources Corp.'s ($TRGP) current $272.10 share price.
- Targa Resources, trading at $261.07 on Tuesday, operates in the oil and gas midstream sector with a market cap of about $56.8 billion.
- Other analysts, including Jefferies and Mizuho, also have buy ratings on Targa, with targets ranging up to $331.
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Barclays has reiterated its buy rating on Targa Resources Corp. (NYSE:TRGP) as of June 23, 2026, setting a price target of $270. This reiteration comes as Targa's shares traded around $261.07 on Tuesday.
Barclays vs. the S&P 500
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Targa Resources Corp. Stock Down 5.5%
Shares of NYSE:TRGP traded near $261.07 on Tuesday. Targa Resources Corp. has a market capitalization of approximately $56.8 billion and a P/E ratio of 27.0. The stock's 52-week range spans from $144.14 to $280.00, with a 50-day moving average of $256.34 and a 200-day moving average of $206.91. The company operates with a current ratio of 0.72 and a quick ratio of 0.53, while its debt-to-equity ratio stands at 585.25.
$TRGP price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
In its latest earnings report, Targa Resources reported revenue of $16.56 billion. The company's net margin was 12.9%, with a return on equity of 74.1%. Despite a revenue decline of 10.2%, Targa maintained a solid EPS of 9.8. The next earnings announcement is expected on August 6, 2026.
Dividend
Targa Resources offers an annual dividend rate of $4.25, yielding 1.64% with a payout ratio of 40.9%. This provides a steady income stream for investors alongside potential stock appreciation.
Insider Buying and Selling at Targa Resources Corp.
Several insiders at Targa Resources have been selling shares recently. CEO Matthew Meloy sold 15,000 shares on May 14, 2026. Other notable sales included Paul Chung's 6,000 shares on May 12, 2026, and Charles Crisp's 10,602 shares at an average price of $255.96 on the same day.
Analysts Set New Price Targets
On June 23, 2026, Barclays maintained its buy rating on Targa Resources with a $270 price target. Jefferies initiated coverage with a buy rating and a target of $314 on June 18, 2026. Mizuho maintained its buy rating with a target of $300 on May 27, 2026. Overall, the consensus among 21 analysts is a buy rating, with an average price target of $285.33.
About Targa Resources
Targa Resources Corp., based in Houston, Texas, operates in the energy sector, specifically in the oil and gas midstream industry. The company manages infrastructure assets in North America, focusing on gathering, processing, and transporting natural gas and natural gas liquids. Targa also provides services related to crude oil and offers logistics support to various retailers and end-users. Led by CEO Mr. Matthew J. Meloy, the company employs around 3,570 people.
Bottom Line
Barclays' reiteration of a buy rating on Targa Resources underscores the firm's confidence in the company's potential. Despite recent insider sales, Targa remains a key player in the oil and gas midstream sector with a strong market position. As always, remember that analyst ratings and 13F filings are backward-looking and may not reflect current market conditions or future performance.
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