Targa Resources Corp

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  • uploads///ANR
    Company & Industry Overviews

    Wall Street Analyst Ratings: TRGP’s ‘Buys’ and OKE ‘Holds’

    Targa Resources (TRGP) has the most “buy” among the four peers we’re analyzing in this series.

    By Kurt Gallon
  • uploads///trgp is trading at a valuation close to peer average
    Earnings Report

    Targa Resources’ Valuation Could Indicate a Buying Opportunity

    Targa Resources (TRGP) stock has tripled in the last year, outperforming its peers in the sector. Let’s take a look at the stock’s current valuation.

    By Rekha Khandelwal, CFA
  • uploads///top underperformers
    Energy & Utilities

    TRGP, CQP, and NBLX: Top Midstream Gains and Losses

    Targa Resources (TRGP) was the top midstream underperformer last week. Targa Resources fell 8.0% for the week.

    By Rekha Khandelwal, CFA
  • uploads///oke is up ytd
    Earnings Report

    Will ONEOK Continue to Outperform Its Peers?

    ONEOK is trading 4% above its 50-day moving average and 8% above its 200-day moving average.

    By Rekha Khandelwal, CFA
  • Energy & Utilities

    Why investors can expect synergies from the combined assets

    ETP’s interest in Sunoco Logistics (SXL) gives ETE acccess to SXL’s geographically diverse portfolio of complementary pipeline, terminalling, and acquisition and marketing assets.

    By Alex Chamberlin
  • Energy & Utilities

    Why smaller oil and gas firms are foraying into high yield debt

    High yield debt markets saw $6 billion worth of new supply issued across 12 transactions in the week ending October 24.

    By Phalguni Soni
  • Energy & Utilities

    Why Targa Resources’ segment operating margins changed in 1Q14

    In 2013, the company processed an average of 780.1 million cubic feet per day of natural gas and produced an average of 91.9 thousand barrels per day of NGLs.

    By Alex Chamberlin
  • uploads///OKE
    Energy & Utilities

    Why ONEOK Might Continue to Outperform the Sector

    ONEOK (OKE) has seen a strong rally from its 2016 lows resulting in strong returns over the past seven years.

    By Kurt Gallon
  • uploads///MPLX
    Company & Industry Overviews

    Reading the Top Institutional Holders in MPLX

    Among the top institutional holders, 9.33 million positions were added in 3Q17, which indicates a bullish sentiment toward MPLX.

    By Kurt Gallon
  • uploads///KMI
    Energy & Utilities

    Have Wall Street Analysts Changed Ratings on Kinder Morgan?

    Of the analysts surveyed by Reuters, 45% rate Kinder Morgan (KMI) as a “hold,” while 55% rate the stock as a “buy.”

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Earnings Report

    Wall Street Analysts See a 30% Upside for Kinder Morgan

    On April 17, 2018, Barclays cut its target price for Kinder Morgan (KMI) from $23 to $20.

    By Rekha Khandelwal, CFA
  • uploads///stocks with yields
    Company & Industry Overviews

    Top Midstream Stocks Offer Yields above 7%

    Let’s take a look at midstream stocks trading at attractive yields. The stocks have a market capitalization of over $5 billion and yields over 7.0%.

    By Rekha Khandelwal, CFA
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    Energy & Utilities

    Targa Resources: A must-know company overview

    In this series, we’ll give a brief overview of Targa’s operations as well as discuss the company’s recent performance and outlook.

    By Ingrid Pan
  • uploads///trgp underperformed peers in
    Company & Industry Overviews

    TRGP, KMI, and DCP to Jointly Develop Gulf Coast Pipeline

    On October 4, Targa Resources (TRGP) announced a letter of intent with a Kinder Morgan (KMI) subsidiary and DCP Midstream (DCP) for the joint development of the Gulf Coast Express Pipeline project.

    By Rekha Khandelwal, CFA
  • uploads///Adj
    Company & Industry Overviews

    WES, DCP, OKE, and TRGP: Comparing Q1 Operating Performances

    OKE’s strong earnings growth in the first quarter was mainly due to strong throughput volume growth across its Natural Gas Gathering & Processing and Natural Gas Liquids segments.

    By Kurt Gallon
  • uploads///analyst recom
    Miscellaneous

    EEP on the Street: What the Analysts Are Saying

    The median target price for EEP as provided by surveyed analysts is $24, which implies a 37% price return in one year from EEP’s current price of $17.48.

    By Rekha Khandelwal, CFA
  • uploads///top gainers and losers
    Company & Industry Overviews

    LNG, TRGP, SEMG: Last Week’s MLP and Midstream Gains and Losses

    Cheniere Energy (LNG) rose 3.6% last week on news of a possible deal to supply liquefied natural gas to China Petroleum & Chemical or Sinopec.

    By Rekha Khandelwal, CFA
  • uploads///kmi rose last week
    Company & Industry Overviews

    Kinder Morgan Moves Ahead with the Gulf Coast Express Pipeline

    Kinder Morgan rose 0.7% last week. The stock rose 1.7% on Thursday—the day that the FID on the Gulf Coast Express Pipeline project was announced.

    By Rekha Khandelwal, CFA
  • uploads///trgps segmental performance
    Earnings Report

    Targa Resources’ Gathering & Processing Segment’s Earnings Rise

    Targa Resources reported its 4Q16 results on February 15, 2016. Targa’s distributable cash flow rose to $246.2 million in 4Q16, compared to $216.1 million in 4Q15.

    By Rekha Khandelwal, CFA
  • uploads///top performers
    Energy & Utilities

    LNG and EQM: Which Midstream Companies Outperformed Last Week?

    Cheniere Energy (LNG) was among the top midstream gainers last week. The stock rose 2.8% during the week.

    By Rekha Khandelwal, CFA
  • uploads///analyst recommendations for kmi
    Earnings Report

    What Are Analysts’ Recommendations for Kinder Morgan?

    Of the analysts surveyed by Reuters, ~66.7% rated Kinder Morgan (KMI) as a “buy” and ~33.3% rated it as a “hold.” None of the analysts rated it as a “sell.”

    By Rekha Khandelwal, CFA
  • uploads///featured image
    Company & Industry Overviews

    ONEOK Stock Continues to Surge, Up 19% Year-to-Date

    ONEOK (OKE) stock has continued to build upon its gains in 2018.

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Energy & Utilities

    Targa Resources: Analysts’ Recommendations and Target Price

    Among the analysts surveyed by Reuters, 48% rate Targa Resources stock as a “buy,” while 52% rate it as a “hold.”

    By Rekha Khandelwal, CFA
  • uploads///featured image
    Energy & Utilities

    How Crude Oil Prices Could Impact Energy MLPs in 2018

    In this series, we’ll look at some of the key indicators that impact MLP performance in the long term.

    By Rekha Khandelwal, CFA
  • uploads///TRGP
    Energy & Utilities

    Are Analysts Bullish on Targa Resources?

    On November 19, U.S. Capital Advisors raised its rating for Targa Resources (TRGP) to “overweight” from “hold.”

    By Rekha Khandelwal, CFA
  • uploads///featured image
    Energy & Utilities

    Why Is ONEOK Outperforming Its Peers in 2018?

    ONEOK (OKE) stock is up nearly 4% so far in 2018.

    By Rekha Khandelwal, CFA
  • uploads///attractive basin positions
    Energy & Utilities

    An overview of the Targa Resources and Atlas Pipeline deal

    The combined company will create a midstream enterprise with more than 22,500 miles of crude oil and natural gas pipelines across the U.S. The $7.7 billion deal is expected to close in the first quarter of 2015.

    By Keisha Bandz
  • uploads///energy stocks are down ytd
    Company & Industry Overviews

    ONEOK Has Risen 6% since It Acquired ONEOK Partners

    ONEOK is trading at dividend yield of ~5.3%—higher compared to ~2.6% for Kinder Morgan (KMI) and ~4.9% for Magellan Midstream Partners (MMP).

    By Rekha Khandelwal, CFA
  • uploads///ebitda vs estimates
    Earnings Report

    Targa Resources Is Expected to Report Higher 4Q16 Earnings

    Targa Resources will report its 4Q16 earnings on February 15. Analysts expect its EBITDA for 4Q16 to be $294 million—an increase of 25% compared to 3Q16.

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Energy & Utilities

    What Do Wall Street Analysts Recommend for Kinder Morgan?

    Of the analysts surveyed by Reuters, 58% rated Kinder Morgan (KMI) as a “buy,” while 42% rated the stock a “hold.”

    By Rekha Khandelwal, CFA
  • uploads///MPLX
    Energy & Utilities

    Understanding MPLX’s 5th Position in the Top 7 MLPs

    MPLX’s “buy” rating percentage has risen from 68% at the end of 2016 to 94% as of September 28, 2017.

    By Kurt Gallon
  • uploads///featured image
    Energy & Utilities

    Kinder Morgan Fell 8.5% Last Week, Hit New 52-Week Low

    With a 2.3% fall on Friday, March 23, Kinder Morgan (KMI) was down 8.5% for the week.

    By Rekha Khandelwal, CFA
  • uploads///trgps segmental performance
    Earnings Report

    What Will Drive Targa Resources’ 4Q16 Earnings Growth?

    Targa Resources’ (TRGP) operations are divided into two operating segments—Gathering and Processing and Logistics and Marketing.

    By Rekha Khandelwal, CFA
  • uploads///featured image
    Earnings Report

    ONEOK Reports Strong Q3 Results, Beats Estimates

    ONEOK reported its third-quarter results on October 30 after the markets closed. The company’s EPS of $0.75 beat the consensus estimates.

    By Rekha Khandelwal, CFA
  • uploads///oil _
    Energy & Utilities

    These Midstream Players Have Created Maximum Wealth for Investors

    In this series, we’ll look at the historical outliers in midstream energy, which have generated massive wealth amid turbulent times.

    By Kurt Gallon
  • uploads///anr
    Earnings Report

    Why ETP Might Not See Rating Updates despite Strong 4Q Earnings

    75.0% of analysts surveyed by Reuters rate Energy Transfer Partners (ETP) a “buy” as of February 21, 2018, and the remaining 25.0% rate it a “hold.”

    By Kurt Gallon
  • uploads///TRGP
    Energy & Utilities

    Barclays Upgraded Targa Resources

    Last week, Barclays upgraded Targa Resources (TRGP), a midstream MLP involved in natural gas gathering and processing, NGLs fractionation, and liquids terminalling & storage.

    By Kurt Gallon
  • uploads///ev to ebitda ratios
    Company & Industry Overviews

    How Does Targa Resources’ Valuation Compare with Peers?

    Targa Resources (TRGP) is trading at an EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple of nearly 15x.

    By Rekha Khandelwal, CFA
  • uploads///atls trgp shareholder benefits
    Energy & Utilities

    Part 2 of Targa Resources’ acquisition deal with Atlas

    After spinning off its non-midstream assets, ATLS’ assets will include its general partner and incentive distribution rights in APL, as well as 5.8 million APL units.

    By Keisha Bandz
  • uploads///Comps
    Energy & Utilities

    Why the Energy Transfer and Targa merger talk ended for now

    Leading up to the rumor of the possible acquisition, the share prices of NGLS and TRGP jumped up by 17.7% and 20.4% on June 19, respectively.

    By Alex Chamberlin
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    Energy & Utilities

    An investor’s must-know guide to liquefied petroleum gas

    The definition of “liquefied petroleum gas” or “LPG” can vary depending on context, but it’s commonly used to refer to the hydrocarbons propane and butane.

    By Alex Chamberlin
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    Energy & Utilities

    Targa Resources will increase its liquefied petroleum gas exports

    Targa Resources (NGLS), a major MLP player in the midstream market, has been active in increasing infrastructure and facilitating exports.

    By Alex Chamberlin
  • uploads///Targa Resources Planned Capex
    Energy & Utilities

    Targa Resources increased its 2014 capex and EBITDA guidance

    A brief overview of Targa Resources and the company’s 4Q13 earnings.

    By Ingrid Pan
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    Energy & Utilities

    How soaring propane exports affect prices

    Propane exports have increased significantly through 2013, and have spiked recently. Increased propane exports are a positive for domestic propane prices.

    By Ingrid Pan
  • uploads///featured image
    Company & Industry Overviews

    Investing in MLPs: Why Yield Isn’t Everything

    As investors, it can be difficult to escape from the lure of high yields. The idea of high and regular income looks attractive.

    By Rekha Khandelwal, CFA
  • uploads///capital exp
    Company & Industry Overviews

    Kinder Morgan Expects Higher Capital Spending in 2019

    Kinder Morgan (KMI) spent $2.3 billion on growth projects in 2018. The company expects to spend $3.1 billion on capital projects in 2019.

    By Rekha Khandelwal, CFA
  • uploads///featured image
    Company & Industry Overviews

    KMI, TRGP, OKE, and WMB: Top Midstream Gains in 2019

    Midstream C corporations have posted impressive gains in 2019. The top stocks in the sector have outperformed the broader market.

    By Rekha Khandelwal, CFA
  • uploads///capital exp
    Earnings Report

    How Are Kinder Morgan’s Capital Projects Progressing?

    Kinder Morgan expects its 2018 budgeted distributable cash flow to be impacted due to the delayed Elba Liquefaction project.

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Energy & Utilities

    TRGP, CVRR, and HCLP: Key Rating Updates Last Week

    On October 3, Barclays cut its rating for CVR Refining (CVRR) from “equal weight” to “underweight.” Barclays cut its target price.

    By Rekha Khandelwal, CFA
  • uploads///top institutional investors
    Company & Industry Overviews

    TRGP and OKE: Analyzing Institutional Investors’ Activity

    PointState Capital added 4.2 million Targa Resources shares to its position in Q2 2018—the largest position change in the stock during the quarter.

    By Rekha Khandelwal, CFA
  • uploads///ebitda growth
    Company & Industry Overviews

    Comparing ONEOK and Targa Resources’ Earnings Growth

    ONEOK (OKE) reported adjusted EBITDA growth of 30% YoY in the second quarter. The company’s EBITDA growth in the last four quarters averaged 20%.

    By Rekha Khandelwal, CFA
  • uploads///featured image
    Company & Industry Overviews

    TRGP and OKE Have Outperformed the Energy Sector in 2018

    So far, midstream companies Targa Resources (TRGP) and ONEOK (OKE) have outperformed the broader energy sector in 2018.

    By Rekha Khandelwal, CFA
  • uploads///MPLX
    Energy & Utilities

    MPLX LP Places Third in Terms of Analyst Ratings

    In terms of analysts ratings, MPLX LP (MPLX), a diversified midstream MLP owned by Marathon Petroleum (MPC), places third among the seven midstream companies we’re looking at.

    By Kurt Gallon
  • uploads///ownershio
    Company & Industry Overviews

    OKE Saw Most Buying by Institutional Investors among Peers

    Capital Research Global Investors added a major position in ONEOK (OKE) during the first quarter.

    By Kurt Gallon
  • uploads///val
    Company & Industry Overviews

    WES, DCP, OKE, TRGP: What Current Valuations Indicate

    OKE has the highest forward EV-to-EBITDA multiple of 14.7x among the selected peers.

    By Kurt Gallon
  • uploads///yield
    Company & Industry Overviews

    Why OKE Has the Lowest Distribution Yield among Peers

    ONEOK has the lowest distribution yield of 4.8% among selected peers, which could be attributed to the partnership’s strong distribution growth guidance supported by its strong earnings growth potential and impressive distribution coverage.

    By Kurt Gallon
  • uploads///capex
    Company & Industry Overviews

    WES Increased 2018 Capital Guidance, DCP Announced New Projects

    In this article, we’ll look at the 2018 capital spending plans of the four selected peers.

    By Kurt Gallon
  • uploads///permian
    Company & Industry Overviews

    DCP, TRGP, WES, and OKE: How Do Throughput Volumes Stack Up?

    The Permian region, which is currently the most prolific basin in the US, continues to experience strong drilling activity.

    By Kurt Gallon
  • uploads///EPD
    Company & Industry Overviews

    What Did Institutional Investors Do with Their Positions in EPD?

    The number of institutional holders in Enterprise Products Partners fell to 1,063 by the end of the first quarter.

    By Kurt Gallon
  • uploads///yield
    Company & Industry Overviews

    Why OKE Has the Lowest Distribution Yield among Its Peers

    MLPs’ distribution yield has risen recently due to the massive correction, and the peers we’re analyzing in this series are no different.

    By Kurt Gallon
  • uploads///leverage
    Company & Industry Overviews

    WES, OKE, DCP, TRGP: Comparing Leverage Positions

    All four of the peers we’re analyzing in this series—DCP Midstream (DCP), Western Gas Partners (WES), OKEOK (OKE), and Targa Resource Corporation (TRGP)—have leverage ratios within or below the industry standard.

    By Kurt Gallon
  • uploads///permian
    Company & Industry Overviews

    DCP, TRGP, WES, and OKE’s Strong Presence in the Permian

    The Permian region, which is currently the United States’ most prolific basin, continues to experience strong drilling activity.

    By Kurt Gallon
  • uploads///ebitda growth guidance
    Company & Industry Overviews

    ONEOK Saw the Highest Earnings Growth Guidance among Peers

    In the previous part of this series, we looked at the recent operating performance for the four peers we’re analyzing: DCP Midstream (DCP), ONEOK (OKE), Targa Resources (TRGP), and Western Gas Partners (WES).

    By Kurt Gallon
  • uploads///Adj
    Company & Industry Overviews

    WES, DCP, OKE, and TRGP: Comparing 4Q17 Operating Performance

    ONEOK (OKE) posted the highest YoY EBITDA growth in the fourth quarter among the four peers we’re analyzing in this series.

    By Kurt Gallon
  • uploads///analyst recom
    Energy & Utilities

    Are Wall Street Analysts Bullish on Targa Resources?

    On March 23, 2018, Morgan Stanley cut its target price for Targa Resources (TRGP) from $53 to $51.

    By Rekha Khandelwal, CFA
  • uploads///featured image
    Company & Industry Overviews

    TRGP Announces Extension of Grand Prix Pipeline and Other Projects

    Targa Resources is down nearly 7% year-to-date.

    By Rekha Khandelwal, CFA
  • uploads///Value chain
    Company & Industry Overviews

    Who’s Protected from FERC’s Revised Income Tax Policy?

    Midstream companies such as Kinder Morgan (KMI), Targa Resource (TRGP), and ONEOK (OKE) are taxed as C-corps, so the revised policy doesn’t apply to them.

    By Kurt Gallon
  • uploads///MPLX distribution
    Company & Industry Overviews

    What Does MPLX LP’s Current Distribution Yield Indicate?

    About 78.9% of analysts rate MPLX LP as a “buy,” and the remaining 21.1% rate it as a “hold.”

    By Kurt Gallon
  • uploads///ETP
    Company & Industry Overviews

    Tortoise Capital Advisors Became Top Institutional Holder in MPLX

    Bank of America Merrill Lynch and Citi Investment Research were the biggest sellers in MLPX LP (MPLX) during the fourth quarter.

    By Kurt Gallon
  • uploads///pressure water line _
    Company & Industry Overviews

    BMO Capital Markets Unloaded Major Position in EPD

    The Alerian MLP Index (AMZ), which consists of 50 energy MLPs, lost 2.8% during the fourth quarter despite strong crude oil prices.

    By Kurt Gallon
  • uploads///nspc
    Earnings Report

    What’s ETE’s and ETP’s Price Forecast after 4Q17 Earnings?

    Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) have been very volatile since the start of this year.

    By Kurt Gallon
  • uploads///TRGP
    Energy & Utilities

    Wall Street Analysts Expect 13% Upside for Targa Resources

    Of the analysts surveyed by Reuters, 62% rate Targa Resources (TRGP) as a “buy,” while 38% rate the stock as a “hold.”

    By Rekha Khandelwal, CFA
  • uploads///TRGP
    Energy & Utilities

    Targa Resources Has the Highest Correlation with Crude Oil

    Targa Resources (TRGP) has the highest correlation with crude oil among all of the midstream companies.

    By Kurt Gallon
  • uploads///distributable cash flow and dividend per share
    Company & Industry Overviews

    KMI Expects 2% Fall in 2017 Distributable Cash Flow

    Kinder Morgan (KMI) expects a DCF (distributable cash flow) of “less than 1 percent below budget” for 2017 due to the IPO (initial public offering) of its Canadian assets and impacts from Hurricane Harvey.

    By Rekha Khandelwal, CFA
  • uploads///DCP
    Energy & Utilities

    How DCP Midstream Plans to Reduce Its Commodity Price Exposure

    DCP Midstream DCP Midstream (DCP) has the second-highest correlation with crude oil, after EnLink Midstream (ENLC). The one-year correlation between DCP and crude oil was 0.51 on October 6, 2017. DCP Midstream’s high correlation with crude oil reflects its high direct commodity price exposure, mainly through its natural gas processing and NGL (natural gas liquid) business. The […]

    By Kurt Gallon
  • uploads///targas grand prix
    Company & Industry Overviews

    Targa Resources’ Joint Venture with Blackstone Energy Partners

    On October 4, Targa Resources (TRGP) announced an agreement to sell a 25% joint venture interest in its Grand Prix NGL (natural gas liquids) pipeline to funds managed by Blackstone Energy Partners.

    By Rekha Khandelwal, CFA
  • uploads///corporate structure
    Company & Industry Overviews

    Targa Resources’ Structure and Operations

    Targa’s Logistics and Marketing segment includes all the activities necessary to convert mixed NGLs into NGL products.

    By Rekha Khandelwal, CFA
  • uploads///trgps key projects and capex
    Earnings Report

    Targa Resources Raises 2017 Capital Expenditure Guidance By 37%

    2017 capital expenditure Targa Resources (TRGP) revised its 2017 capital expenditure guidance upwards, by 37% to $960 million. Targa’s plans for new projects include two processing plants—one in the Midland Basin and another in the Delaware Basin. Moreover, Targa plans to double its investment in the Williston Basin to $150 million, to expand crude gathering […]

    By Rekha Khandelwal, CFA
  • uploads///permian acquisition
    Miscellaneous

    NuStar to Acquire Navigator Energy and Enter the Permian Basin

    On Wednesday, April 12, 2017, NuStar Energy (NS) announced that it will acquire Permian-focused Navigator Energy Services for ~$1.5 billion.

    By Kurt Gallon
  • uploads///oke ebitda by segment
    Earnings Report

    What Drove ONEOK’s Gas Gathering and Processing Earnings in 4Q16?

    ONEOK’s Natural Gas Gathering and Processing segment’s 4Q16 EBITDA rose 30.0% year-over-year.

    By Rekha Khandelwal, CFA
  • uploads///oke ebitda by segment
    Earnings Report

    A Look at Which Segment Could Drive ONEOK’s 4Q16 Earnings Growth

    ONEOK’s Natural Gas Liquids business earned 60% of its EBITDA (earnings before interest, tax, depreciation, and amortization) for 3Q16.

    By Rekha Khandelwal, CFA
  • uploads///trgp stock has tripled in a year
    Earnings Report

    Targa Resources Stock Tripled in a Year: Will It Continue?

    Targa Resources has positive momentum. Its stock tripled in the past year. Targa Resources gained more than its peers over the last 12 months.

    By Rekha Khandelwal, CFA
  • uploads///acquisitions
    Miscellaneous

    Key Permian Basin Deals in 2016 and 2017

    On January 17, 2017, ExxonMobil (XOM) announced that it will be acquiring Bass family companies for a staggering $6.6 billion.

    By Keisha Bandz
  • uploads///trgp
    Company & Industry Overviews

    Why Targa Resources Was Upgraded by Raymond James

    Raymond James has upgraded Targa Resources (TRGP) from “market perform” to “outperform,” which is equivalent to a “buy.”

    By Kurt Gallon
  • uploads///trgps key projects and capex
    Company & Industry Overviews

    What Are Targa Resources’ Key Capital Projects?

    Targa Resources (TRGP) plans to drive growth by investment in new projects and limit the impact of changes in commodity prices.

    By Rekha Khandelwal, CFA
  • uploads///galena park lpg export volumes
    Company & Industry Overviews

    Must-Know: Targa Resources’ LPG Exports

    Targa Resources (TRGP) has LPG (liquefied petroleum gas) export facilities on the Gulf Coast at its Galena Park Marine Terminal.

    By Rekha Khandelwal, CFA
  • uploads///trgp analyst recommendations
    Company & Industry Overviews

    Is Targa Resources Stock Set to Generate High Returns in 2017?

    Of the analysts surveyed by Reuters, 60% recommend a “hold” for Targa Resources (TRGP) stock.

    By Rekha Khandelwal, CFA
  • uploads///targa resources stock more than doubled in
    Company & Industry Overviews

    Targa Resources Stock More than Doubled in 2016: What’s Ahead?

    Targa Resources has risen 115% in 2016. In comparison, ONEOK Partners has risen 54%, and Kinder Morgan has risen 42% during the same timeframe.

    By Rekha Khandelwal, CFA
  • uploads///trgp wti and natural gas
    Macroeconomic Analysis

    What Is Targa Resources’ Correlation with Crude Oil?

    The correlation between TRGP’s stock price and the near-month WTI (West Texas Intermediate) crude oil futures price over the last one year was 0.54.

    By Rekha Khandelwal, CFA
  • uploads///forward dividend yield to dividend growth
    Company & Industry Overviews

    Targa Resources Trades at a Higher Forward Yield than Peers

    Analysts expect TRGP’s two-year compounded dividend growth to be 2%. Among TRGP’s peers, SE is expected to provide the highest dividend growth.

    By Rekha Khandelwal, CFA
  • uploads///trgps forward dividend yield
    Company & Industry Overviews

    What Does Targa Resources’ Current Valuation Indicate?

    Targa Resources (TRGP) is currently trading at a forward dividend yield of ~9%. This is higher than its five-year average dividend yield of 6.5%.

    By Rekha Khandelwal, CFA
  • uploads///targa lpg exports
    Company & Industry Overviews

    Analyzing Targa Resources’ LPG Exports

    Targa has an effective operational capacity of 6.5–7.0 MMBbl (million barrels) per month of exports. The company expects to export more than 5 MMBbl per month in 2016.

    By Rekha Khandelwal, CFA
  • uploads///trgp is up  percent ytd
    Company & Industry Overviews

    Targa Resources Is Up 47% in 2016: What’s Next?

    Targa Resources (TRGP) has risen 47% so far in 2016. In comparison, the Alerian MLP ETF (AMLP) is up 3% in 2016.

    By Rekha Khandelwal, CFA
  • uploads///broker recommendations
    Miscellaneous

    Broker Recommendations for Targa Resources Partners and TRGP

    Of the analysts surveyed by Bloomberg, 47% rate Targa Resources Partners (NGLS) a “buy,” and 53% rate it a “hold.” None of the analysts rate it a “sell.” The consensus target price for NGLS is $37.54.

    By Rekha Khandelwal, CFA
  • uploads///simplified public structure
    Miscellaneous

    NGLS-TRGP Deal Will Simplify the Company Structure

    The merger deal between Targa Resources Partners (NGLS) and Targa Resources (TRGP) will greatly simplify the current complex structure. The merger will create one simplified public C corporation.

    By Rekha Khandelwal, CFA
  • uploads///trc pro forma dividends per share
    Miscellaneous

    NGLS-TRGP Deal Is Expected to Improve Dividend Growth, Coverage

    The additional cash flow coverage for NGLS is expected to support Targa’s dividend growth outlook and reduce the need for external financing.

    By Rekha Khandelwal, CFA
  • uploads///year to date returns
    Miscellaneous

    Targa Resources Partners–TRGP Deal: What’s in It for Investors?

    On November 3, 2015, Targa Resources (TRGP) and Targa Resources Partners (NGLS) announced that Targa Resources plans to acquire Targa Resources Partners in an all-stock deal.

    By Rekha Khandelwal, CFA
  • uploads///permian
    Earnings Report

    Targa Resources Closes Atlas Pipeline Acquisition in 1Q15

    On February 27, Targa Resources Partners (NGLS) announced that it closed the acquisition of Atlas Pipeline Partners and Atlas Energy.

    By Keisha Bandz
  • uploads///NGLS STOCK
    Earnings Report

    Targa Resources’ Stock Performance and 1Q Earnings

    After Targa Resources Partners (NGLS) announced its 1Q15 earnings on May 5, its stock performance increased marginally, from $45.09 on previous close to $45.32.

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  • uploads///revenue
    Earnings Report

    Targa Resources Partners Announces 1Q15 Earnings

    Targa Resources Partners’ revenues for 1Q15 declined by 27% to $1.67 billion compared to $2.29 billion for the same quarter of 2014. Targa says it’s a result of lower commodity prices.

    By Keisha Bandz
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