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Targa Resources Partners Lp
Targa Resources Partners LP, also known as NGLS, is a publicly traded limited partnership that specializes in gathering, compressing, processing, and marketing natural gas. They have operations in the Permian Basin in New Mexico and Texas,
Financial Highlights
* Earnings: In the third quarter of 2022, Targa Resources Partners LP revealed that its net income was $120 million, compared to $184.0 million in the third quarter of 2021.
* Revenue: Revenue was $3.27 billion for the third quarter of 2022, up from $2.02 billion for the same period in 2021.
* Growth: In the third quarter of 2022, Targa Resources Partners LP increased its dividend payout by 5% over the previous quarter.
Management's Remuneration
* CEO Joe Bob Perkins earned $947,924 in total compensation in 2020, including a base salary of $462,078 and incentive pay of $341,036.
Investors should note that total compensation for executive officers may vary year over year.
Facts and Statistics
* As of November 10, 2022, the stock price of Targa Resources Partners LP (NGLS) was $65.34.
* Market Capitalization: $14.07 billion
* Holdings by Institutions: As of September 30, 2022, institutional ownership was 86.56%. BlackRock, Inc. owns 12.19 million shares, valued at $784.4 million.
Analyst Coverage
* Analysts from various firms, including Goldman Sachs, Barclays, Citigroup, and Wells Fargo, cover Targa Resources Partners LP.
* Consensus Rating: Hold
Risks
* Lower demand: Targa Resources Partners LP faces the risk of lower demand for its services due to increased supply and available pipeline capacity.
* Competition: The company faces significant competition in the midstream energy industry.
* Regulation: The company operates in a highly regulated industry, and changes in government regulations or environmental laws could negatively impact its operations.
Conclusion
Targa Resources Partners LP is a limited partnership that specializes in gathering, compressing, processing, and marketing natural gas. With a market capitalization of $12.14 billion as of February 2023, it is traded on the New York Stock Exchange (NYSE).
Remembering that investing in the stock market carries inherent risks, investors should thoroughly research and consider their risk tolerance before investing in Targa Resources Partners LP or any other security. It is essential to consider your financial goals, risk tolerance, and investment horizon before investing in the stock market. There is no guarantee that the information in this section is current or correct, and it is not a recommendation to buy or sell the security.