Miller Howard Investments Inc. NY Sells 111,077 Shares of Targa Resources, Inc. (NYSE:TRGP)

Miller Howard Investments Inc. NY reduced its position in shares of Targa Resources, Inc. (NYSE:TRGP - Free Report) by 31.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 238,248 shares of the pipeline company's stock after selling 111,077 shares during the quarter. Targa Resources accounts for about 1.5% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 25th biggest holding. Miller Howard Investments Inc. NY owned 0.11% of Targa Resources worth $47,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Targa Resources by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 27,160,608 shares of the pipeline company's stock valued at $4,848,169,000 after purchasing an additional 150,038 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Targa Resources by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 5,930,473 shares of the pipeline company's stock worth $1,056,187,000 after acquiring an additional 212,986 shares during the period. Norges Bank bought a new stake in shares of Targa Resources in the fourth quarter worth approximately $505,132,000. Price T Rowe Associates Inc. MD grew its stake in shares of Targa Resources by 2.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,756,419 shares of the pipeline company's stock worth $492,022,000 after acquiring an additional 53,853 shares during the period. Finally, GQG Partners LLC bought a new stake in shares of Targa Resources in the fourth quarter worth approximately $393,335,000. 92.13% of the stock is currently owned by institutional investors.

Targa Resources Stock Performance

NYSE TRGP traded down $0.26 during trading hours on Friday, hitting $173.52. 760,692 shares of the company's stock traded hands, compared to its average volume of 1,835,929. The business's fifty day moving average price is $166.46 and its two-hundred day moving average price is $182.21. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 6.04. The firm has a market capitalization of $37.64 billion, a P/E ratio of 31.96, a P/E/G ratio of 0.62 and a beta of 1.07. Targa Resources, Inc. has a 52 week low of $122.56 and a 52 week high of $218.51.

Targa Resources (NYSE:TRGP - Get Free Report) last announced its earnings results on Thursday, May 1st. The pipeline company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($1.13). The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $5.01 billion. Targa Resources had a net margin of 7.35% and a return on equity of 30.48%. Equities research analysts predict that Targa Resources, Inc. will post 8.15 EPS for the current year.

Targa Resources Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a dividend of $1.00 per share. The ex-dividend date was Wednesday, April 30th. This represents a yield of 2.34%. Targa Resources's dividend payout ratio (DPR) is 73.66%.

Analyst Ratings Changes

A number of analysts have recently commented on TRGP shares. Mizuho set a $212.00 price target on shares of Targa Resources and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Truist Financial lifted their price target on shares of Targa Resources from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $205.00 price target (up from $191.00) on shares of Targa Resources in a research note on Thursday, June 26th. Citigroup reduced their price target on shares of Targa Resources from $227.00 to $197.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, The Goldman Sachs Group reduced their price target on shares of Targa Resources from $218.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Twelve investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Targa Resources has an average rating of "Buy" and an average price target of $209.67.

Targa Resources Company Profile

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires, and develops a portfolio of complementary domestic midstream infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation. The company is involved in gathering, compressing, treating, processing, transporting, and selling natural gas; storing, fractionating, treating, transporting, and selling natural gas liquids (NGL) and NGL products, including services to liquefied petroleum gas exporters; and gathering, storing, terminaling, purchasing, and selling crude oil.