Miller/Howard Investments is an employee-owned, research-driven firm managing portfolios for a range of investors, from high-net-worth individuals to large institutions. They have integrated environmental, social, and governance (ESG) analysis with fundamental research since the inception of their first strategy in 1991.
Their focus is on the quality of a company, its ability to grow income, and the sustainability of its business model and practices.
Featured SMA Strategies
Income-Equity Strategy
A diversified, dividend-growth equity portfolio that seeks high current dividend income plus growth of income and principal. The strategy targets compounding income—not style, sector, or asset allocation—as the main driver of portfolio selection. The investment process considers both the financial and environmental, social and governance (ESG) profile of each candidate.
Infrastructure Strategy
Invests in US-listed companies that own and operate critical infrastructure, including sectors such as utilities, communications, energy infrastructure, and industrials. This portfolio seeks to participate in both the stability and dynamic growth of essential services companies, and these industries typically have high barriers to entry. Stock selection is biased toward companies that are financially sound, have high current income and prospects for dividend growth, and have strong environmental, social, and governance (ESG) practices and below-average risk profiles.
MLP Strategy
Invests primarily in midstream energy infrastructure companies that generate cash flow from the gathering, processing, transportation, and storage of natural gas, crude oil, and refined petroleum products. The strategy is composed of Master Limited Partnerships (MLPs) and C-corporations. Their goal is to construct a portfolio of high quality companies that provides attractive current income along with growth of income.
Utilities Plus
Focuses on the stability and dynamic growth focuses on the stability and dynamic growth often available in utility and utility-like essential services companies. Stock selection is biased toward utilities with visible capex programs for rate base growth, supportive regulatory environment, healthy and growing dividend, and consolidation potential. The strategy has a long track record of owning companies that have been acquired, and they specifically target companies that appear to be strong acquisition candidates.
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