Miller Howard Investments Inc. NY Has $27.40 Million Stock Position in Targa Resources, Inc. $TRGP

Miller Howard Investments Inc. NY grew its stake in Targa Resources, Inc. (NYSE:TRGP) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,550 shares of the pipeline company’s stock after buying an additional 2,998 shares during the quarter. Miller Howard Investments Inc. NY owned 0.08% of Targa Resources worth $27,401,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Avion Wealth boosted its stake in Targa Resources by 475.0% in the 3rd quarter. Avion Wealth now owns 276 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 228 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Targa Resources in the second quarter valued at about $53,000. Carolina Wealth Advisors LLC acquired a new position in shares of Targa Resources during the third quarter worth about $58,000. Hilltop National Bank bought a new position in shares of Targa Resources during the second quarter worth about $63,000. Finally, Kestra Investment Management LLC acquired a new stake in Targa Resources in the 2nd quarter valued at approximately $70,000. Institutional investors own 92.13% of the company’s stock.

Targa Resources Stock Up 0.0%

Targa Resources stock opened at $176.83 on Friday. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.77 and a quick ratio of 0.61. The company’s 50-day moving average is $176.22 and its 200-day moving average is $168.48. The firm has a market capitalization of $37.96 billion, a PE ratio of 23.51, a P/E/G ratio of 0.85 and a beta of 0.87. Targa Resources, Inc. has a fifty-two week low of $144.14 and a fifty-two week high of $218.51.

Targa Resources (NYSE:TRGP) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.02). The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $4.70 billion. Targa Resources had a net margin of 9.35% and a return on equity of 51.87%. Sell-side analysts anticipate that Targa Resources, Inc. will post 8.15 earnings per share for the current year.

Targa Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, October 31st were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, October 31st. Targa Resources’s dividend payout ratio is 53.19%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Scotiabank upped their price target on Targa Resources from $198.00 to $199.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group reduced their target price on shares of Targa Resources from $189.00 to $188.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Royal Bank Of Canada lifted their price target on shares of Targa Resources from $213.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, December 3rd. UBS Group restated a “buy” rating on shares of Targa Resources in a research note on Friday. Finally, Stifel Nicolaus set a $213.00 price objective on Targa Resources in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Targa Resources presently has an average rating of “Moderate Buy” and a consensus price target of $210.79.

Insiders Place Their Bets

In other Targa Resources news, insider Gerald R. Shrader sold 2,750 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $181.21, for a total transaction of $498,327.50. Following the completion of the sale, the insider owned 29,561 shares of the company’s stock, valued at $5,356,748.81. This trade represents a 8.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider D. Scott Pryor sold 20,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $172.21, for a total transaction of $3,444,200.00. Following the completion of the transaction, the insider owned 22,139 shares in the company, valued at approximately $3,812,557.19. This represents a 47.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.34% of the stock is currently owned by corporate insiders.

Targa Resources Profile

Targa Resources Corporation (NYSE: TRGP) is a U.S.-focused midstream energy company that provides gathering, processing, transportation, storage and marketing services for natural gas, natural gas liquids (NGLs), and condensate. Its operations span the midstream value chain, including gas gathering systems that collect production from wells, processing plants that separate and recover NGLs and other hydrocarbons, fractionation and purification facilities that prepare NGLs for market, and pipeline and terminal assets that move and store products for producers, refiners and other customers.

The company operates a network of pipelines, processing plants, fractionators and storage facilities that serve producers and consumers across major U.S.