Dec. 11, 2014, 3:57 PM
- Targa Resources Partners (NGLS +4.6%) holds on to solid gains after saying following yesterday's close that it expects to maintain its cash distribution and dividend growth at its current pace, as well as distribution coverage of 1x-1.2x, despite the recent drop in commodity prices.
- NGLS in October projected an 11%-13% increase in its cash distribution during 2015 and a 35% jump in its dividend next year.
Oct. 13, 2014, 7:58 AM
- Targa Resources Partners (NYSE:NGLS) and Targa Resources (NYSE:TRGP) agree to acquire Atlas Pipeline Partners (NYSE:APL) and Atlas Energy (NYSE:ATLS) for $5.8B, including $1.8B of debt.
- Prior to Targa's acquisition of ATLS, ATLS will spin off its non-midstream assets; after giving effect to the spinoff, ATLS assets will solely comprise its general partner and incentive distribution rights interests in APL and 5.8M APL common units.
- The combination creates one of the largest diversified MLPs on an enterprise value basis, bringing Atlas' positions in the Woodford/SCOOP, Mississippi Lime and Eagle Ford and additional Permian assets to Targa's existing Permian, Bakken, Barnett and Louisiana Gulf coast operations.
- ATLS +14.1%, APL +12.8% premarket.
Jun. 20, 2014, 12:45 PM
Jun. 20, 2014, 9:14 AM
Jun. 20, 2014, 7:20 AM
- Targa Resources (TRGP) confirmed high-level preliminary discussions on a sale to Energy Transfer Partners (ETP), but says the talks ended without any deal. There are no assurances talks could resume.
- TRGP -13.7%, NGLS -9.1%, RGP +1%, ETE +0.5% premarket.
- Source: Press Release
- Previously: Bloomberg: Energy Transfer near deal to buy Targa Resources
Jun. 19, 2014, 4:15 PM
- Targa Resources (TRGP) shares spiked 20.4% just before the close on a report that Energy Transfer Partners (ETP) is near a deal for the company.
- TRGP and Targa Resources Partners (NGLS), which surged 17.7%, could be valued at a combined total of more than $15B in the deal, sources tell Bloomberg; Regency Energy Partners (RGP), another pipeline company controlled by ETP, also could be involved in the deal.
Nov. 5, 2013, 2:36 PM
- Targa Resources Partners (NGLS -2.2%) is downgraded to Neutral from Overweight with a $54 price target, down from $57, at J.P. Morgan following lower than expected 2014 guidance expecting distribution growth of 7%-9% (Q3 earnings).
- The firm continues to believe NGLS' assets offer attractive opportunities to leverage both strong liquids-rich production and expanding downstream needs in the fractionation and LPG export markets, but NGLS has far outperformed the MLP space.
- NGLS' price appreciation combined with the moderated distribution growth outlook results in a tempered risk/reward tradeoff, the firm concludes.
Nov. 15, 2012, 9:10 AM
Nov. 15, 2012, 8:31 AMTarga Resources Partners (NGLS) agrees to purchase Williston Basin crude oil pipeline and natural gas processing businesses in North Dakota from Saddle Butte Pipeline for $950M. To fund the deal, NGLS plans a public offering of 9.5M common units representing limited partner interests. NGLS -3.9% premarket. | Comment!
Jan. 17, 2012, 4:42 PM
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