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Jennifer R. Kneale, President of Finance and Administration at Targa Resources Corp. (NYSE:TRGP), executed a series of stock sales on February 25, according to a recent SEC filing. Kneale sold a total of 29,887 shares of common stock, resulting in proceeds of approximately $5.75 million. The sales were made at prices ranging from $191.76 to $198.18 per share, near the stock’s current trading price of $198.57. The timing is notable as TRGP has delivered an impressive 107% return over the past year, according to InvestingPro data.
Following these transactions, Kneale’s direct holdings in Targa Resources totaled 227,269 shares. The sales were conducted in multiple transactions, with the weighted average prices reflecting the varying sale prices within the specified range. With a market capitalization of $43.16 billion and strong analyst support, TRGP continues to show momentum. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report about Targa Resources, including detailed valuation analysis and growth prospects.
In other recent news, Targa Resources has announced several significant developments that are of interest to investors. The company reported fourth-quarter 2024 earnings that exceeded both Stifel’s expectations and consensus estimates, leading to an increase in the stock price target by Stifel to $229, while maintaining a Buy rating. Similarly, Citi analysts raised their price target for Targa Resources to $227, citing rapid infrastructure development and anticipated double-digit growth in EBITDA over the next two years. Mizuho (NYSE:MFG) Securities also increased their price target to $226, reflecting the company’s strong performance and growth prospects in the Permian Basin.
Additionally, CFRA analyst Stewart Glickman raised the price target to $208, maintaining a Hold rating, and noted an expected rise in volumes and a reduction in capital expenditures for 2025. Targa Resources has also announced the appointment of Jennifer R. Kneale as President, effective March 1, 2025, marking a notable change in the company’s leadership. Analysts have highlighted that Targa Resources’ strategy includes increased capital expenditures to support elevated production levels, which is expected to drive long-term cash flow.
The company has been actively pursuing growth initiatives, including new pipelines and expanded export capabilities, with plans to add more processing capacity by 2027. Analysts from various firms have expressed confidence in Targa Resources’ financial strategy and growth trajectory, with expectations of significant EPS and EBITDA growth. These developments reflect the company’s ongoing efforts to strengthen its position in the energy sector and deliver value to its shareholders.
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