State of New Jersey Common Pension Fund D Lowers Stake in Targa Resources, Inc. $TRGP

02 May 2026, 06:48 by Scott Moore · The Cerbat Gem

State of New Jersey Common Pension Fund D lowered its position in shares of Targa Resources, Inc. (NYSE:TRGP – Free Report) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,099 shares of the pipeline company’s stock after selling 3,140 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Targa Resources were worth $13,118,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Targa Resources by 1.5% during the third quarter. Vanguard Group Inc. now owns 28,382,289 shares of the pipeline company’s stock valued at $4,755,169,000 after purchasing an additional 422,075 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Targa Resources by 9.0% during the third quarter. Wellington Management Group LLP now owns 19,643,139 shares of the pipeline company’s stock valued at $3,291,012,000 after purchasing an additional 1,620,253 shares in the last quarter. UBS Group AG lifted its holdings in shares of Targa Resources by 9.9% in the third quarter. UBS Group AG now owns 2,360,311 shares of the pipeline company’s stock worth $395,447,000 after buying an additional 212,887 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Targa Resources by 4.1% in the third quarter. Northern Trust Corp now owns 2,175,544 shares of the pipeline company’s stock worth $364,491,000 after buying an additional 84,757 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its holdings in shares of Targa Resources by 0.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,834,117 shares of the pipeline company’s stock worth $338,395,000 after buying an additional 8,559 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Targa Resources Trading Down 2.1%

Shares of TRGP opened at $254.56 on Friday. The company’s fifty day moving average is $240.75 and its 200 day moving average is $201.32. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $260.49. The stock has a market capitalization of $54.68 billion, a PE ratio of 29.63, a P/E/G ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.55 and a current ratio of 0.67.

Targa Resources (NYSE:TRGP – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The pipeline company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.16. Targa Resources had a net margin of 10.88% and a return on equity of 65.48%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Sell-side analysts expect that Targa Resources, Inc. will post 10.32 earnings per share for the current fiscal year.

Targa Resources Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be given a $1.25 dividend. This is a boost from Targa Resources’s previous quarterly dividend of $1.00. This represents a $5.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, April 30th. Targa Resources’s dividend payout ratio (DPR) is presently 58.21%.

Insider Buying and Selling

In related news, Director Lindsey Cooksen sold 435 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $231.72, for a total value of $100,798.20. Following the sale, the director owned 11,670 shares in the company, valued at approximately $2,704,172.40. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Muraro sold 24,589 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $241.34, for a total transaction of $5,934,309.26. Following the completion of the sale, the insider owned 197,401 shares in the company, valued at $47,640,757.34. This represents a 11.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 104,929 shares of company stock valued at $24,692,134 in the last three months. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Targa Resources from $213.00 to $243.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Royal Bank Of Canada boosted their target price on shares of Targa Resources from $260.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. TD Cowen boosted their target price on shares of Targa Resources from $192.00 to $220.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Mizuho boosted their target price on shares of Targa Resources from $207.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $241.00 target price on shares of Targa Resources in a report on Friday, February 20th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $259.93.

View Our Latest Analysis on Targa Resources

Targa Resources Profile

(Free Report)

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.