Targa Resources Partners LP (NGLS)

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Targa Resources Announces Increase in Quarterly Dividend and Distribution

http://www.wkrb13.com/markets/334633/targa-resources-partners-lp-declares-quarterly-dividend-of-0-78-ngls/

Targa Resources Partners LP Declares Quarterly Dividend of $0.78 (NGLS)

Targa Resources Partners (NASDAQ:NGLS) announced a quarterly dividend on Tuesday, July 15th, Stock Ratings Network reports. Shareholders of record on Monday, July 28th will be paid a dividend of 0.78 per share on Thursday, August 14th. This represents a $3.12 annualized dividend and a dividend yield of 4.67%.

Several analysts have recently commented on the stock. Analysts at Goldman Sachs upgraded shares of Targa Resources Partners to a “conviction buy list” rating in a research note on Thursday, July 3rd. On a related note, analysts at Barclays downgraded shares of Targa Resources Partners from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 2nd. They now have a $68.00 price target on the stock, up previously from $65.00. Finally, analysts at Wells Fargo & Co. downgraded shares of Targa Resources Partners from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 2nd. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $68.76.

Targa Resources Partners (NASDAQ:NGLS) traded down 0.55% on Tuesday, hitting $66.86. The stock had a trading volume of 217,211 shares. Targa Resources Partners has a 52 week low of $47.57 and a 52 week high of $83.49. The stock’s 50-day moving average is $69.41 and its 200-day moving average is $59.39. The company has a market cap of $7.642 billion and a P/E ratio of 36.90.

Targa Resources Partners (NASDAQ:NGLS) last released its earnings data on Thursday, May 1st. The company reported $0.78 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.29. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 68.3% on a year-over-year basis. Analysts expect that Targa Resources Partners will post $2.37 EPS for the current fiscal year.

Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (NASDAQ:NGLS).