Miller Howard Investments Inc. NY Has $29.25 Million Stock Holdings in Targa Resources Corp. (NYSE:TRGP)

Miller Howard Investments Inc. NY lessened its holdings in Targa Resources Corp. (NYSE:TRGP - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 336,750 shares of the pipeline company's stock after selling 127,096 shares during the quarter. Miller Howard Investments Inc. NY owned 0.15% of Targa Resources worth $29,254,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TRGP. Harbour Investments Inc. increased its stake in Targa Resources by 51.3% during the 3rd quarter. Harbour Investments Inc. now owns 357 shares of the pipeline company's stock worth $31,000 after buying an additional 121 shares in the last quarter. Quarry LP purchased a new position in Targa Resources in the 1st quarter valued at approximately $33,000. VisionPoint Advisory Group LLC raised its position in Targa Resources by 111.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 397 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 209 shares in the last quarter. Rational Advisors LLC purchased a new position in Targa Resources in the third quarter worth approximately $43,000. Finally, Huntington National Bank grew its stake in shares of Targa Resources by 124.4% during the third quarter. Huntington National Bank now owns 534 shares of the pipeline company's stock worth $46,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on TRGP. JPMorgan Chase & Co. lifted their target price on Targa Resources from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 6th. Mizuho boosted their target price on Targa Resources from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, April 3rd. Royal Bank of Canada increased their price target on shares of Targa Resources from $106.00 to $109.00 and gave the company an "outperform" rating in a report on Monday, February 26th. UBS Group decreased their target price on Targa Resources from $109.00 to $108.00 and set a "buy" rating on the stock in a research report on Thursday, January 18th. Finally, Truist Financial increased their price target on shares of Targa Resources from $105.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $115.70.

Targa Resources Stock Down 1.3 %

Shares of Targa Resources stock traded down $1.56 during midday trading on Tuesday, hitting $114.41. The company's stock had a trading volume of 2,238,586 shares, compared to its average volume of 1,713,183. The company has a quick ratio of 0.66, a current ratio of 0.79 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $25.46 billion, a P/E ratio of 31.07 and a beta of 2.21. The stock has a 50-day simple moving average of $100.92 and a 200-day simple moving average of $90.99. Targa Resources Corp. has a 1-year low of $67.36 and a 1-year high of $116.92.

Targa Resources (NYSE:TRGP - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.26). Targa Resources had a net margin of 5.20% and a return on equity of 18.64%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.50 billion. As a group, sell-side analysts expect that Targa Resources Corp. will post 5.75 earnings per share for the current year.

Targa Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.75%. Targa Resources's dividend payout ratio (DPR) is presently 54.50%.

Insider Buying and Selling at Targa Resources

In other Targa Resources news, insider D. Scott Pryor sold 10,000 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $97.00, for a total transaction of $970,000.00. Following the completion of the sale, the insider now directly owns 156,098 shares of the company's stock, valued at approximately $15,141,506. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider D. Scott Pryor sold 10,000 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $97.00, for a total value of $970,000.00. Following the completion of the transaction, the insider now directly owns 156,098 shares of the company's stock, valued at approximately $15,141,506. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joe Bob Perkins sold 33,405 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $97.67, for a total transaction of $3,262,666.35. Following the transaction, the director now owns 38,440 shares of the company's stock, valued at approximately $3,754,434.80. The disclosure for this sale can be found here. Insiders have sold a total of 81,966 shares of company stock worth $7,987,215 over the last ninety days. Corporate insiders own 1.39% of the company's stock.

Targa Resources 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.