Scotiabank Raises Price Target for Targa Resources (NYSE: TRGP) Amidst Strong Momentum and Dividend Announcement

• Scotiabank has increased its price target for Targa Resources (NYSE: TRGP), suggesting a potential upside of 12.70% from its current share price.
• Targa Resources is recognized as a top-ranked momentum stock by Zacks Investment Research, indicating strong recent price trends.
• Targa Resources declared a third-quarter 2026 dividend of $1.25 per share and is set to release its Q3 earnings results.

Targa Resources operates pipelines and facilities that handle natural gas and related products, a key player in the midstream energy sector. Scotiabank, a prominent investment banking firm, recently raised its price target for Targa Resources to $319.00 from $314.00. With shares trading at approximately $282.96 when the target was announced, this new analyst rating implies roughly 12.70% potential upside from that price.

A price target is an analyst’s estimate of where a stock could trade, not a guaranteed return. Scotiabank’s $5.00 increase signals a higher estimate for Targa Resources, though its $319.00 target remains below Targa Resources’ reported 52-week high of $307.94 only if reversed; in fact, it is $11.06 above that high.

As highlighted by Zacks Investment Research, Targa Resources is a top-ranked momentum stock in its Style Scores system. Momentum refers to the strength of a stock’s recent price trend, a crucial factor for stock performance. The provided excerpt does not give Targa Resources’ specific score or explain which company developments support the ranking.

Targa Resources declares a third-quarter 2026 dividend of $1.25 per share, or $5.00 per share on an annual basis. This significant dividend payout is scheduled for November 17 for shareholders of record on October 30. Targa Resources plans to release third-quarter results before the market opens on November 5, followed by an earnings webcast at 11:00 a.m. Eastern Time, providing further insights into its financial results.