Targa Resources Sees Increased Stake from Royal Bank of Canada

Targa Resources, Inc.'s shares have been actively acquired by Royal Bank of Canada. The bank's stake in the pipeline company has risen to 0.28% following a 59.1% increase during the first quarter.

The fund purchased an additional 227,075 shares, totaling 611,375 shares owned at the end of the quarter. This significant boost highlights Royal Bank of Canada's confidence in Targa Resources' near-term performance.

MarketBeat analyst estimate revisions also indicate a positive sentiment towards Targa Resources. US Capital Advisors raised its Q2 2026 EPS forecast to $2.75 from $2.53, while Erste Group Bank increased its estimate to $10.94 from $10.80.

Targa Resources' upcoming quarterly earnings report is expected to be a key catalyst for the stock's performance. Analysts predict that the company will beat consensus estimates, citing favorable earnings-surprise indicators.