Targa Resources Surges 1.16% on RBC Upgrade $270M Volume Ranks 397th

Targa Resources (TRGP) closed August 12, 2025, with a 1.16% gain, trading on $0.27 billion in volume, ranking 397th in market activity. The midstream operator has drawn renewed investor attention following RBC Capital Markets’ upgraded “Outperform” rating and $208 price target. The analyst move follows Q2 results showing an 18% year-over-year rise in adjusted EBITDA to $1.163 billion, driven by record Permian natural gas output and accelerated project timelines. Short interest has plummeted to 2.25% of float, down from 16.04%, signaling shifting market sentiment and shorter short-covering timelines of 3.52 days.

The company announced a new $1.0 billion share repurchase program, building on its existing $1.0 billion initiative, alongside a $1.00 per share quarterly dividend. Strategic initiatives include extending the Bull Run pipeline and prioritizing liquidity-driven growth. These actions align with a high-volume stock strategy that has generated a 166.71% return since 2022, outperforming benchmarks by 137.53%.

A backtest of a strategy buying the top 500 stocks by daily trading volume and holding for one day showed a 3.77% return from 2022 to the present. The approach, rebalanced daily, highlights the modest impact of trading volume on short-term performance despite high turnover, underscoring the mixed effectiveness of volume-based indicators in driving immediate gains.