Targa Resources Corp.(TRGP)- NYSE
  • Mon, Sep. 19, 3:28 PM
    • Goldman Sachs upgrades its coverage on energy midstream partnerships to Attractive from Neutral, expecting a return of volume growth in 2017 and further growth in natural gas liquids, oil and natural gas helping to generate better margins.
    • The firm foresees few risks of any additional dividend cuts, as leverage and coverage should show improvements in 2017 and 2018, and believes financial risks from capital markets have begun to recede.
    • Goldman upgrades two names - Targa Resources (TRGP +3%) and Buckeye Partners (BPL +1.8%) - to Buy from Neutral, and lifts two more - Enable Midstream Partners (ENBL +3%) and Enbridge Energy Partners (EEP +0.9%) - to Neutral from Sell; however, EnLink Midstream (ENLC -0.5%) is downgraded to Sell.
    | Mon, Sep. 19, 3:28 PM | 13 Comments
  • Sat, Sep. 10, 8:25 AM
    | Sat, Sep. 10, 8:25 AM | 34 Comments
  • Tue, Sep. 6, 12:01 PM
    • August monthly performance was: +0.18%
    • AUM of $1.57B
    • 52-week performance vs. the S&P 500 is: +5%
    • $0.15 in dividends were paid in August
    • Top 10 Holdings as of 7/29/2016: Targa Resources Corp (TRGP): 1.75908%, Joy Global Inc (JOY): 1.20074%, Cal-Maine Foods Inc (CALM): 1.0183%, Covanta Holding Corp (CVA): 0.98535%, Regal Entertainment Group (RGC): 0.984%, Pattern Energy Group Inc Class A (PEGI): 0.93953%, Royal Gold Inc (RGLD): 0.88436%, ALLETE Inc (ALE): 0.85466%, Black Hills Corp (BKH): 0.83077%, B&G Foods Inc (BGS): 0.79923%
    | Tue, Sep. 6, 12:01 PM
  • Fri, Aug. 26, 1:54 PM
    • Sentiment is improving and "recovery emerging” around energy MLPs, Citi's Faisel Khan says, citing Improving commodity prices and tighter credit spreads as the main reasons, as some companies are positioning for volume growth.
    • The analyst offers six "value picks": TRGP, OKS, NS, BWP, TLLP and CQP.
    • Khan's "key thematic picks" are Energy Products Partners (NYSE:EPD), as a play on growth in natural gas liquids, Plains All American Pipeline (NYSE:PAA) and Plains GP Holdings (NYSE:PAGP) on growth in the Permian basin, and EnLink Midstream (NYSE:ENLC), as a play on Oklahoma expansion.
    | Fri, Aug. 26, 1:54 PM | 23 Comments
  • Wed, Aug. 3, 8:11 AM
    • July monthly performance was: +4.79%
    • AUM of $1.51B
    • 52-week performance vs. the S&P 500 is: +5%
    • $0.23 in dividends were paid in July
    • Top 10 Holdings as of 6/30/2016: Targa Resources Corp (TRGP): 2.06845%, Cal-Maine Foods Inc (CALM): 1.12003%, Covanta Holding Corp (CVA): 1.05209%, Regal Entertainment Group (RGC): 0.95889%, Joy Global Inc (JOY): 0.95533%, Pattern Energy Group Inc Class A (PEGI): 0.92093%, ALLETE Inc (ALE): 0.89961%, Black Hills Corp (BKH): 0.86375%, Royal Gold Inc (RGLD): 0.78356%, B&G Foods Inc (BGS): 0.77656%
    | Wed, Aug. 3, 8:11 AM
  • Wed, Aug. 3, 6:49 AM
    • Targa Resources (NYSE:TRGP): Q2 EPS of -$0.33 misses by $0.25.
    • Revenue of $1.58B (-7.1% Y/Y) misses by $150M.
    • Press Release
    | Wed, Aug. 3, 6:49 AM
  • Tue, Aug. 2, 7:01 AM
    • July monthly performance was: +4.79%
    • AUM of $1.51B
    • 52-week performance vs. the S&P 500 is: +6%
    • $0.23 in dividends were paid in July
    • Top 10 Holdings as of 6/30/2016: Targa Resources Corp (TRGP): 2.06845%, Cal-Maine Foods Inc (CALM): 1.12003%, Covanta Holding Corp (CVA): 1.05209%, Regal Entertainment Group (RGC): 0.95889%, Joy Global Inc (JOY): 0.95533%, Pattern Energy Group Inc Class A (PEGI): 0.92093%, ALLETE Inc (ALE): 0.89961%, Black Hills Corp (BKH): 0.86375%, Royal Gold Inc (RGLD): 0.78356%, B&G Foods Inc (BGS): 0.77656%
    | Tue, Aug. 2, 7:01 AM
  • Wed, Jul. 20, 5:50 AM
    • Targa Resources (NYSE:TRGP) declares $0.91/share quarterly dividend, in line with previous.
    • Forward yield 8.81%
    • Payable Aug. 15; for shareholders of record Aug. 2; ex-div July 29.
    | Wed, Jul. 20, 5:50 AM
  • Wed, Jul. 6, 11:58 AM
    • Investors may find it difficult to capitalize on propane's big rally, as the rally has come so quick and so fast that it may be too late to hop on board, WSJ reports.
    • Jefferies analyst Christopher Sighinolfi had been bullish on many propane pipeline and processing companies when others were skeptical, but recently downgraded Oneok (OKE -1.2%), DCP Midstream Partners (DPM +0.8%), EnLink Midstream Partners (ENLK +0.1%) and Targa Resources (TRGP -0.1%) largely because they became too expensive.
    • “We were also concerned with how confident and convicted clients seemed about the prospect for prices to just continue climbing and simultaneously dismissive they are” about declining volumes, Sighinolfi said.
    • Others think propane could still rise quickly in the near term from exports and domestic heating and agriculture demand; Greg Sharenow of Pacific Investment Management says "propane is a significantly better value with inventories falling below last year’s level and exports already at a pretty substantial level.”
    | Wed, Jul. 6, 11:58 AM | 1 Comment
  • Wed, Jul. 6, 8:46 AM
    • Sanchez Production Partners (NYSEMKT:SPP) agrees to acquire Sanchez Energy's (NYSE:SN) 50% interest in Carnero Gathering, a joint venture that is 50% owned by Targa Resources (NYSE:TRGP), for $44.4M.
    • Carnero will own 45 miles (10 miles of which remain under construction) of high pressure natural gas gathering pipelines that currently connect SPP's existing Western Catarina Midstream system to nearby pipelines in south Texas, which will connect to a cryogenic natural gas processing plant now under construction.
    • SN has invested $26M in Carnero Gathering since entering the joint venture with Targa in October 2015; the processing plant is expected to be operational in early 2017.
    | Wed, Jul. 6, 8:46 AM | 3 Comments
  • Wed, Jun. 8, 1:57 PM
    • Targa Resources (TRGP -3.7%) is downgraded to Hold from Buy with a $45 price target at Jefferies, which cites valuation and the potential for further pressure on margins.
    • Jefferies says TRGP's Q1 EBITDA of $265M easily beat its estimate of $222M and Wall Street expectations of $255M, and distributable cash flow of $178M also came in well above the firm's estimate of $124M.
    • The firm expects TRGP to keep its quarterly cash dividend unchanged at $0.91/share through 2018 with ~5% annual growth resuming in 2019.
    • TRGP has surged 72% YTD, including a 91% rip higher since its February lows.
    | Wed, Jun. 8, 1:57 PM | 5 Comments
  • Tue, May 31, 6:55 PM
    • Energy Transfer Partners (NYSE:ETP) offers "safe yield and growth prospects" for 2018 and beyond, Barclays says as it reiterates its Outperform rating and raises its price target to $48.
    • ETP will benefit from $10B of organic projects under execution, which Barclays sees adding close to $1B of distributable cash flow by 2019; "while we forecast debt to EBITDA to remain ~4.5x in 2016, we see this falling to low 4x in 2017-plus, which we think will help valuation," the firm writes.
    • The start-up of the Lone Star Express project in 2016 will bring 180K-280K bbl/day of new NGL pipeline capacity, and new projects "position ETP well in capturing volume upside from ethane recovery expected when new crackers come on line in 2017-2019," the firm says.
    • Barclays also notes that ETP continues to trade at a discount to key NGL players such as ONEOK Partners (NYSE:OKS), DCP Midstream Partners (NYSE:DPM) and Targa Resources (NYSE:TRGP); the firm thinks ETP's current yield of 11.82% reflects a 320 bps discount to the group.
    | Tue, May 31, 6:55 PM | 42 Comments
  • Mon, May 2, 7:55 AM
    • April monthly performance was: +2.25%
    • AUM of $1.63B
    • $0.24 in dividends were paid in April
    • Top 10 Holdings as of 3/31/2016: Targa Resources Corp (TRGP): 1.5%, Cal-Maine Foods Inc (CALM): 1.34%, Covanta Holding Corp (CVA): 1.1%, Innoviva Inc (INVA): 1.09%, Regal Entertainment Group (RGC): 0.94%, Black Hills Corp (BKH): 0.84%, ALLETE Inc (ALE): 0.8%, Pattern Energy Group Inc Class A (PEGI): 0.78%, Joy Global Inc (JOY): 0.74%, The Laclede Group Inc (LG): 0.72%
    | Mon, May 2, 7:55 AM
  • Fri, Apr. 29, 7:11 AM
    • Targa Resources (NYSE:TRGP): Q1 Adj. net income of $3.2M.
    • Revenue of $1.44B (-14.3% Y/Y) beats by $30M.
    • Press Release
    | Fri, Apr. 29, 7:11 AM
  • Wed, Apr. 20, 6:15 PM
    • Targa Resources (NYSE:TRGP) declares $0.91/share quarterly dividend, in line with previous.
    • Forward yield 9.63%
    • Payable May 16; for shareholders of record May 3; ex-div April 29.
    | Wed, Apr. 20, 6:15 PM | 7 Comments
  • Mon, Apr. 4, 7:24 AM
    • March monthly performance was: +9.16%
    • AUM of $1.22B
    • 52-week performance vs. the S&P 500 is: -5%
    • $0.11 in dividends were paid in March
    • Top 10 Holdings as of 2/29/2016: Cal-Maine Foods Inc (CALM): 1.49%, Targa Resources Corp (TRGP): 1.45%, Innoviva Inc (INVA): 1.1%, Covanta Holding Corp (CVA): 0.98%, Regal Entertainment Group (RGC): 0.94%, Black Hills Corp (BKH): 0.85%, ALLETE Inc (ALE): 0.81%, Pattern Energy Group Inc Class A (PEGI): 0.75%, The Laclede Group Inc (LG): 0.75%, WisdomTree MidCap Dividend ETF (DON): 0.72%
    | Mon, Apr. 4, 7:24 AM | 1 Comment