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Charles R. Crisp, a director at Targa Resources Corp. (NYSE:TRGP), sold 1,947 shares of the company’s common stock on February 25, 2025. The shares were sold at an average price of $194.23, amounting to a total transaction value of $378,167. Following this sale, Crisp holds 80,923 shares in the company. The transaction comes as Targa’s stock has shown remarkable strength, delivering a 104% return over the past year. According to InvestingPro analysis, the company maintains a GOOD financial health score, with analysts setting price targets ranging from $135 to $259.
Targa Resources, based in Houston, Texas, is engaged in the natural gas transmission industry. The $43.2 billion market cap company has maintained dividend payments for 15 consecutive years, currently yielding 1.54%. The transaction was reported in a Form 4 filing with the Securities and Exchange Commission, reflecting Crisp’s direct ownership in the company. For deeper insights into TRGP’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Targa Resources has been the focus of several analyst upgrades, reflecting its promising growth trajectory and strategic initiatives. Stifel analysts raised their price target for Targa Resources shares to $229, citing the company’s fourth-quarter 2024 earnings that surpassed expectations and its optimistic guidance for 2025. Mizuho (NYSE:MFG) Securities also increased its price target to $226, highlighting strong performance in the Permian Basin and an expedited final investment decision on new processing plants. Similarly, Citi analysts lifted their target to $227, noting rapid infrastructure development and the potential for double-digit EBITDA growth over the next two years.
CFRA analyst Stewart Glickman raised Targa’s price target to $208, acknowledging a strengthened position in the Permian region, although maintaining a Hold rating. Targa Resources’ recent appointment of Jennifer R. Kneale as President, effective March 2025, marks a significant leadership change, though the company has not specified any strategic shifts. The company anticipates a reduction in capital expenditures in 2025, with adjusted EBITDA expected to grow, providing a favorable environment for debt reduction. Analysts from Stifel and Citi emphasized Targa’s strategy of increased capital expenditures, seen as a response to higher production levels, which could drive long-term cash flow. These developments collectively underscore Targa Resources’ strong growth outlook and strategic positioning in the energy sector.
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