Targa Resources (TRGP) has raised its quarterly dividend payment an astounding 733% to $1 U.S. per share.
Based in Houston, Texas, Targa Resources is one of the largest infrastructure companies delivering natural gas and natural gas liquids in the U.S., primarily in the Gulf Coast region.
The company just declared a dramatic dividend increase, lifting its quarterly distribution to $1 U.S. per share from $0.12 U.S. previously.
Going forward, Targa’s dividend will total $4 U.S. a share each year, giving it a yield of 2.33% based on the current share price of $171.90 U.S.
Management said that they raised the dividend a staggering 733% as they commit to returning value to shareholders.
The dividend increase comes ahead of Targa Resources’ second-quarter financial results that are scheduled to be released on Aug. 7, 2025.
Wall Street analysts were quick to boost their price targets on Targa Resources stock following the big dividend increase.
Barclays Bank (BCS) raised its price target on TRGP stock to $195 U.S. and reiterated a buy-equivalent “overweight” rating on the shares.
At the same time, analysts at JPMorgan Chase (JPM) boosted their price target on Targa Resources’ stock to $209 U.S. and also reiterated an “overweight” rating on the shares.
JPMorgan said that Targa Resources continues to exhibit strong growth potential in the Permian Basin region of Texas and in natural gas markets around the world.
TRGP stock has risen 28% in the last 12 months and is up 826% over the past five years.
