Last $70.53 USD
Change Today -0.35 / -0.49%
Volume 189.4K
NGLS On Other Exchanges
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Frankfurt
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As of 8:04 PM 09/15/14 All times are local (Market data is delayed by at least 15 minutes).

targa resources partners lp (NGLS) Snapshot

Open
$70.62
Previous Close
$70.88
Day High
$70.99
Day Low
$69.56
52 Week High
06/19/14 - $83.49
52 Week Low
09/18/13 - $47.57
Market Cap
8.3B
Average Volume 10 Days
243.8K
EPS TTM
$2.46
Shares Outstanding
114.7M
EX-Date
07/24/14
P/E TM
28.7x
Dividend
$3.12
Dividend Yield
4.29%
Current Stock Chart for TARGA RESOURCES PARTNERS LP (NGLS)

targa resources partners lp (NGLS) Related Businessweek News

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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
Executive Chairman of Targa Resources GP LLC
Total Annual Compensation: $1.5M
Chief Financial Officer of Targa Resources GP...
Total Annual Compensation: $672.1K
Advisor to Chairman & Chief Executive Officer...
Total Annual Compensation: $1.2M
Compensation as of Fiscal Year 2013.

targa resources partners lp (NGLS) Key Developments

Targa Resources Partners LP and Targa Resources Corp Announce Board Changes, Effective Dec. 31, 2014

Targa Resources Partners LP and Targa Resources Corp., or TRC, have announced the retirement of Rene Joyce as executive chairman of TRC and of the general partner of the partnership, effective December 31, 2014. He will continue to serve as a director of both companies. Roy E. Johnson, also a founding executive and a key to the Targa vision and success story, has elected to retire effective December 31, 2014 as well. TRC and the Partnership also announced that James W. Whalen will assume the role of Executive Chairman of TRC and of the general partner of the Partnership, effective January 1, 2015. Mr. Whalen, who will remain on the management team, has served as a director of TRC and its predecessor companies since 2004 and as a director of the general partner of the Partnership since 2007.

Targa Resources Partners LP Presents at 2014 Citi One-on-One MLP / Midstream Infrastructure Conference, Aug-19-2014

Targa Resources Partners LP Presents at 2014 Citi One-on-One MLP / Midstream Infrastructure Conference, Aug-19-2014 . Venue: Encore at Wynn Las Vegas, 3121 Las Vegas Boulevard South, Las Vegas, NV 89109, United States.

Targa Resources Partners LP Announces Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year Ending December 31, 2014

Targa Resources Partners LP announced unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of $2,061.9 million against $1,441.6 million a year ago. Income from operations was $152.9 million against $63.2 million a year ago. Income before income taxes was $122.2 million against $33.6 million a year ago. Net income attributable to the company was $108.8 million or $0.64 per diluted unit compared to $26.3 million $0.01 per diluted unit a year ago. Net cash provided by operating activities was $140.4 million against $5.1 million a year ago. Adjusted EBITDA was $226.4 million against $126.5 million a year ago. For the six months, the company reported revenues of $4,414.8 million against $2,839.5 million a year ago. Income from operations was $313.6 million against $139.4 million a year ago. Income before income taxes was $254.6 million against $79.8 million a year ago. Net income attributable to the company was $231.2 million or $1.42 per diluted unit compared to $65.2 million $0.17 per diluted unit a year ago. Net cash provided by operating activities was $456.8 million against $195.7 million a year ago. Outlays for property, plant and equipment were $419.6 million against $463.4 million a year ago. Adjusted EBITDA was $458.2 million against $258.8 million a year ago. For quarter, the company reported plant natural gas inlet of 2,113.8 MMcf/d, gross NGL of 155.9 MBbl/d, natural gas sales of 879.8 BBtu/d, condensate sales of 5.0 MBbl/d against plant natural gas inlet of 2,072 MMcf/d, gross NGL of 131.2 MBbl/d, natural gas sales of 953.1 BBtu/d, condensate sales of 4.0 MBbl/d a year ago. For the six months, the company reported plant natural gas inlet of 2,081.2 MMcf/d, gross NGL of 149.4 MBbl/d, natural gas sales of 873.6 BBtu/d, condensate sales of 4.3 MBbl/d against plant natural gas inlet of 2,075.6 MMcf/d, gross NGL of 132.1 MBbl/d, natural gas sales of 901.7 BBtu/d, condensate sales of 3.7 MBbl/d a year ago. For the year ending December 31, 2014, based on the expected Train 5 capital expenditures and on the inclusion of additional capital expenditures in the Partnership's Field Gathering and Processing Segment to support continued strong producer activity around its assets, the Partnership now estimates that 2014 gross growth capital expenditures will be approximately $780 million. The company presents a reconciliation of the range of net income attributable to the company to Adjusted EBITDA for 2014: Net income attributable the company will be in the range of $444.5 million to $494.5 million. Adjusted EBITDA will be in the range of $925.0 million to $975.0 million.

 

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NGLS

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Valuation NGLS Industry Range
Price/Earnings 29.1x
Price/Sales 1.0x
Price/Book 3.8x
Price/Cash Flow 14.4x
TEV/Sales 0.6x
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