Last $45.05 USD
Change Today -0.56 / -1.23%
Volume 538.4K
NGLS On Other Exchanges
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Exchange
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New York
As of 8:04 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

targa resources partners lp (NGLS) Snapshot

Open
$45.14
Previous Close
$45.61
Day High
$46.38
Day Low
$44.99
52 Week High
06/19/14 - $83.49
52 Week Low
01/14/15 - $39.05
Market Cap
5.2B
Average Volume 10 Days
907.0K
EPS TTM
$2.89
Shares Outstanding
115.8M
EX-Date
01/29/15
P/E TM
15.6x
Dividend
$3.24
Dividend Yield
6.98%
Current Stock Chart for TARGA RESOURCES PARTNERS LP (NGLS)

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targa resources partners lp (NGLS) Details

Targa Resources Partners LP is engaged in the ownership, operation, acquisition, and development of midstream energy assets in the United States. The company operates through two divisions, Gathering and Processing, and Logistics and Marketing. The Gathering and Processing division is involved in gathering, compressing, dehydrating, treating, conditioning, processing, and marketing natural gas; and gathering crude oil. This division gathers and processes natural gas from the Permian Basin in West Texas and Southeast New Mexico; the Fort Worth Basin, including the Barnett Shale in North Texas; and the Williston Basin in North Dakota, as well as from the onshore region of the Louisiana Gulf Coast and the Gulf of Mexico. Its gathering systems comprise approximately 11,300 miles of natural gas pipelines. This division sells its residue gas to end users, such as commercial and industrial customers; and natural gas and electric utilities serving individual consumers. The Logistics and Marketing division converts mixed natural gas liquids (NGLs) into NGL products; provides value added services, including fractioning, storing, terminaling, transporting, distributing, and marketing NGLs and NGL products; and stores refined petroleum products and crude oil, as well as supplies and markets natural gas. This division serves end-users of NGL products, such as petrochemical and refining companies, and propane markets for heating, cooking, or crop drying applications through pipelines, barges, trucks, and rail cars. It owns or operates 39 storage wells with a storage capacity of approximately 64 million barrels. As of December 31, 2013, this division’s transportation assets consisted of approximately 700 railcars, 80 owned and leased transport tractors, and 18 company-owned pressurized NGL barges. The company was founded in 2006 and is headquartered in Houston, Texas. Targa Resources Partners LP is a subsidiary of Targa Resources Corp.

Founded in 2006

targa resources partners lp (NGLS) Top Compensated Officers

Chief Executive Officer of Targa Resources GP...
Total Annual Compensation: $1.4M
President of Targa Resources GP LLC and Chief...
Total Annual Compensation: $1.2M
Chief Financial Officer of Targa Resources GP...
Total Annual Compensation: $672.1K
Compensation as of Fiscal Year 2013.

targa resources partners lp (NGLS) Key Developments

Targa Resources Partners LP Declares Dividend for the Fourth Quarter of 2014, Payable on February 13, 2015

Targa Resources Partners LP announced that the board of directors of its general partner has declared a quarterly cash distribution of 81.00 per common unit, or $3.24 per common unit on an annualized basis, for the fourth quarter 2014. The approved distribution represents increases of approximately 2% over the previous quarter's distribution and 8% over the distribution for the fourth quarter 2013. This cash distribution will be paid February 13, 2015 on all outstanding common units to holders of record as of the close of business on February 2, 2015.

Targa Resources Partners LP and Targa Resources Partners Finance Corporation Announces Pricing of $1.1 Billion of Senior Unsecured Notes

Targa Resources Partners LP and its subsidiary Targa Resources Partners Finance Corporation announced the pricing of $1.1 billion of senior unsecured notes. The 5% notes mature January 15, 2018 and were priced at par. The offering is expected to close on January 30, 2015, subject to customary closing conditions. The Partnership intends to use the net proceeds from the offering to fund its concurrent tender offers for any and all of the outstanding $500.0 million aggregate principal amount of the 6 5/8% Senior Notes due 2020, $400.0 million aggregate principal amount of the 4 3/4% Senior Notes due 2021 and $650.0 million aggregate principal amount of the 5 7/8% Senior Notes due 2023 issued by Atlas Pipeline Partners, L.P. and Atlas Pipeline Finance Corporation and, if applicable, the change of control offers for the APL Notes pursuant to the indentures governing the APL Notes.

Targa Resources Partners LP and Targa Resources Partners Finance Corp. Announces $800 Million Offering of Senior Notes

Targa Resources Partners LP and its subsidiary Targa Resources Partners Finance Corporation announced that, subject to market conditions, they intend to sell in an offering in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to persons outside of the United States pursuant to Regulation S under the Securities Act, $800 million in aggregate principal amount of senior unsecured notes due 2018. The Partnership intends to use the net proceeds from the offering to fund its concurrent tender offers for any and all of the outstanding $500.0 million aggregate principal amount of the 6 5/8% Senior Notes due 2020, $400.0 million aggregate principal amount of the 4 3/4% Senior Notes due 2021 and $650.0 million aggregate principal amount of the 5 7/8% Senior Notes due 2023 issued by Atlas Pipeline Partners, L.P. ("APL") and Atlas Pipeline Finance Corporation and, if applicable, the change of control offers for the APL Notes pursuant to the indentures governing the APL Notes.

 

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Industry Analysis

NGLS

Industry Average

Valuation NGLS Industry Range
Price/Earnings 15.5x
Price/Sales 0.6x
Price/Book 2.3x
Price/Cash Flow 8.1x
TEV/Sales 0.2x
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