Shares climbed 4.50% to $260.08 on Thursday, extending their winning streak to eight sessions and topping the previous $253.87 peak set on 7 April.
The move came in a broadly stronger market, with the S&P 500 up 1.02% and the Dow Jones Industrial Average rising 1.62%.
Targa outperformed peers including Enterprise Products Partners, Kinder Morgan and Cheniere Energy, though trading volume of 1.4 million stayed below its 50-day average.
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