Barclays Rates Targa Resources (TRGP) buy, $270 Price Target

Barclays maintains its buy stance on Targa Resources with a $270 price target, a 0.77% downside from the current price.

By TradeTexts Research Desk · Published Jun 23, 2026, 8:01 AM EDT · Updated Jun 25, 2026, 3:01 PM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

Barclays rated Targa Resources Corp. ($TRGP) "buy" with a $270 price target on June 23, 2026.

Since the rating, $TRGP is down 0.2% after 1 week, up 6.3% after 1 month and up 10.3% to date (from the $267.47 close on Jun 23, 2026).

TRGP Targa Resources Corp.

$294.90 +60.23% year to date

Daily close · Oct 16, 2026

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.

Analyst rating track record

Barclays vs. the S&P 500

YTD return +22.18% hypothetical

All-time return +39.32% S&P 500 +40.89%

vs. S&P 500 -1.57% behind the index

Hypothetical returns from Barclays's disclosed trades, not real profit or advice. How we model this.

Targa Resources Corp. Stock Down 6.9%

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.

12-month forecast

$TRGP price target

Targa Resources Corp. daily closes and this analyst's $270 target. Not 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.