10 S&P 500 Stocks on Jim Cramer’s Radar

5. Targa Resources Corp. (NYSE:TRGP)

Number of Hedge Fund Holders: 45

Cramer highlighted Targa Resources Corp. (NYSE:TRGP) and suggested sticking with the stock.

“Finally, there’s Targa Resources, up 105%. Now, here’s a natural gas pipeline company, maybe the key to keeping the Permian growing because there’s too much gas in the Permian that needs to be taken away… Targa has both the pipes and the ability to fractionate natural gas liquids. While it’s not a liquified natural gas company, it was believed to be a big loser when President Biden announced that pause in LNG construction a year ago. That pause is over and it, well, I think it’ll be lifted immediately and that will lift Targa even more. By the way, I think that Cheniere Energy was the better one to buy, but I think Targa has the ability to rebuild its… dividend and that’s a good reason to stay long on the stock. Targa’s for me.”

Targa Resources (NYSE:TRGP) owns and operates a portfolio of midstream infrastructure assets, involved in the gathering, processing, transporting, and selling of natural gas, natural gas liquids, and crude oil, along with offering related logistics and transportation services. It had a successful year in 2024, achieving record earnings and volumes.

This growth was largely driven by the completion of several key organic expansion projects, which included the Daytona NGL Pipeline expansion in the third quarter and the startup of the new 120,000-barrel-per-day Train 9 fractionator in Texas during the first quarter. Furthermore, the company completed the Wildcat II natural gas processing plant in late 2023.

Targa Resources (NYSE:TRGP) is investing in expanding its midstream network to meet growing demand, with six natural gas processing plants under construction, which are set to begin operations by the third quarter of 2026. The company is also building an NGL fractionator and expanding its Galena Park terminal, both of which are expected to be completed by the second half of 2025.