Elliott Gue
Research analyst, dividend investing, oil & gas, master limited partnerships

Targa Resources Partners LP: The Power Of A Balanced Portfolio

In Brief

Despite a challenging year for ethane and propane prices, Targa Resources Partners LP (NYSE: NGLS) still managed to meet its target for double-digit distribution growth. With the price of these natural gas liquids (NGL) bottoming out and an impressive slate of expansion projects on the horizon, the MLP should deliver distribution growth of 10 percent to 12 percent in 2013. We remain particularly bullish on the near-term prospects for Targa Resources Partners' logistics and marketing division, which boasts the second-largest installed fractionation capacity at the hub in Mont Belvieu, Texas, and one of the nation's two propane export facilities.

Looking to 2014, we expect the MLP recently acquired midstream assets in the Bakken Shale to drive distribution...

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