Smart move in my opinion.

Dividend history

TRGP (6.25%)and NGLS (10.82%)

http://www.dividendinvestor.com/historical.php?no=128409

http://www.dividendinvestor.com/historical.php?no=33837

Targa Resources (TRGP) to Acquire Remaining Targa Resources Partners (NGLS) Shares

Targa Resources (NYSE: TRGP )and Targa Resources Partners LP (NYSE: NGLS) announced that TRC will acquire all of the outstanding common units of the Partnership not already owned by TRC in an all stock-for-unit transaction at a ratio of 0.62 TRC common shares per common unit of Targa Resources Partners. The implied TRP unit price represents an 18% premium to its volume-weighted average price during the 10 trading days ending November 2, 2015.

Following this transaction, TRC expects dividend growth of 15% for 2016 and greater than 10% compound annual dividend growth through 2018, assuming consensus analyst commodity prices and related capex and other assumptions as outlined in the investor presentation described below.

Following completion of the transaction, all of the outstanding common units of TRP will be owned by TRC and will no longer be publicly traded. The incentive distribution rights of TRP will be eliminated. All of TRP’s outstanding debt and Series A preferred units will remain outstanding. No additional financing is required for the transaction.

TRC has posted an updated investor presentation in the Events and Presentations section of its website at www.targaresources.com that includes an overview of the transaction, transaction rationale, and multi-year estimates for TRC dividends per share, dividend coverage and leverage for the base case using consensus analyst commodity prices. A sensitivity case using reduced commodity prices, lower capex and other related assumptions is also included with multi-year estimates for dividends per share and dividend coverage. Under the reduced commodity price scenario, TRC estimates dividend growth of 10% in 2016 and modest growth thereafter.

Management Commentary

“The combination of TRC and TRP will provide both immediate and long-term benefits to TRC and TRP investors. By improving our coverage and credit profile, simplifying our structure, lowering our cost of capital, and increasing our retained cash flow, we will be better positioned to continue to invest in high-return growth projects that will drive dividend growth beyond 2016,” said Joe Bob Perkins, Chief Executive Officer of the Company and of the general partner of the Partnership. “This transaction is attractive for Targa’s stakeholders, with better positioning in lower commodity price environments and enhanced growth in price recovery scenarios.”

Conditions to Closing

The Board of Directors of TRC (the “TRC Board”), the Conflicts Committee (the “Conflicts Committee”) of the Board of Directors of the general partner of TRP (the “TRP Board”) and the TRP Board have approved the merger agreement. Subject to customary approvals and conditions, including the expiration or termination of all waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, the transaction is expected to close in the first quarter of 2016. The transaction is subject to the approval of the common unitholders of TRP and shareholders of TRC.

Conference Call and Investor Presentation

Targa will discuss the transaction and TRP and TRC’s third quarter 2015 financial results on Tuesday, November 3, 2015 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time). The conference call can be accessed via webcast through the Events and Presentations section of the Partnership’s website at www.targaresources.com, by going directly to http://ir.targaresources.com/events.cfm?company=LP or by dialing 877-881-2598. The pass code for the dial-in is 60174409. Please dial in ten minutes prior to the scheduled start time. A replay will be available approximately two hours following completion of the webcast through the Investor’s section of the Partnership’s website. An investor presentation regarding the transaction has been posted on the Events and Presentations section of the TRP and TRC websites.

Advisors

Evercore Partners acted as advisor to the TRC Board and Barclays acted as financing advisor to the TRC Board. Citigroup acted as financial advisor to the Conflicts Committee of TRP. Richards, Layton & Finger served as legal counsel to the Conflicts Committee of TRP and Vinson & Elkins LLP served as legal counsel to TRC.

Alongside its upgrade of Columbia PIpeline Group, Jefferies pulls the plug on Buy ratings for Targa Resources Partners (NGLS -3.3%) and Southwest Gas Corporation (SWX -1.9%).

NGLS is off nearly 35% YTD, and SWX - after a major bounce over the past few sessions - is roughly flat for the year.

NGLS

$32.40
10-5-15

Dividend history

Targa Resources Corp. and Targa Resources Partners LP Provide Financial Outlook and Announce Formation of Eagle Ford Shale Joint Venture

http://www.streetinsider.com/Press+Releases/Targa+Resources+Corp.+and+Targa+Resources+Partners+LP+Provide+Financial+Outlook+and+Announce+Formation+of+Eagle+Ford+Shale+Joint+Venture/10944451.html


Targa Resources Corp. (NYSE:TRGP) (“TRC” or the “Company”) and Targa Resources Partners LP (NYSE:NGLS) (“Targa Resources Partners”, “TRP” or the “Partnership”) (together “Targa”) announced a preliminary financial outlook for 2016, based on commodity prices and activity levels outlined below.

TRC is providing the following preliminary outlook for 2016

Dividend growth of 15% over FY2015
Dividend coverage of approximately 1x
Effective cash tax rate of 0% to 5%

At the Partnership, the preliminary 2016 outlook includes:

Commodity price assumptions consistent with current research expectations of $55.00 per barrel for crude oil, $0.50 per gallon for the Partnership's typical weighted average NGLs and $3.25 per MMBtu for natural gas

Annualized distributions of $3.30 per common unit, flat to current annualized distributions per common unit

Distribution coverage of approximately 0.90x to 0.95x

Compliance Debt/EBITDA ratio in the mid-4x range

Growth capex of approximately $600 million based on projects announced currently (including the new Sanchez Energy Corporation (“Sanchez Energy”) joint venture discussed below)

Flat to low single digit growth in Field Gathering & Processing inlet volumes compared to average 2015 inlet volumes

Over 5 million barrels per month of LPG export volumes predominantly under contract

A sensitivity scenario based on recent 2016 commodity strip prices of $47.00 per barrel for crude oil, $0.45 per gallon for the Partnership's typical weighted average NGLs and $2.85 per MMBtu for natural gas, results in approximately 0.05x lower distribution coverage.

Additional sensitivities for the outlook above include the following price only EBITDA sensitivities: a $0.05 per gallon change in the weighted average price for TRP’s NGLs would change estimated 2016 Adjusted EBITDA by approximately $20 million; a $0.25 per MMBtu change in natural gas price would change estimated 2016 Adjusted EBITDA by approximately $10 million; and a $5.00 per barrel change in crude oil price would change estimated 2016 Adjusted EBITDA by approximately $5 million.

TRP also announced that for the third quarter of 2015, TRP estimates distribution coverage of approximately 1.0x to 1.1x.
“The strength of our asset position and the resiliency of our diversified business mix are demonstrated in the results that we have realized to date in 2015 and in the 2016 outlook that we are providing today,” said Joe Bob Perkins, Chief Executive Officer of the Partnership and of the Company.

Eagle Ford Shale Natural Gas Processing Joint Venture

Targa Resources Partners also announced that it has entered into joint venture agreements with Sanchez Energy Corporation (NYSE:SN) to construct a new 200 million cubic feet per day (“MMcf/d”) cryogenic natural gas processing plant in La Salle County, Texas (“La Salle County Plant”) and approximately 45 miles of associated pipelines. TRP expects to invest approximately $125 million of growth capex related to the joint ventures, and assuming full contribution from Sanchez Energy, will have a 50% ownership interest in the plant and the approximately 45 miles of high pressure gathering pipelines that will connect SN’s Catarina gathering system to the plant. Targa will hold all the transportation capacity on the pipeline, and the gathering joint venture will receive fees for transportation.

The La Salle County Plant will accommodate the growing production from Sanchez Energy’s premier Eagle Ford Shale acreage position in Dimmit, La Salle and Webb Counties, Texas and from other third party producers. The plant and high pressure gathering lines are supported by long-term, firm, fee-based contracts and acreage dedications with Sanchez Energy. TRP will manage construction and operations of the plant and high pressure gathering lines, and the plant is expected to begin operations in early 2017. Prior to the plant being placed in-service, TRP will benefit from Sanchez Energy natural gas volumes that will be processed at TRP’s Silver Oak facilities in Bee County, Texas.

“Improving Targa’s presence and performance in the Eagle Ford has been a focus since we completed our acquisition and entered the area earlier this year. The joint venture with Sanchez Energy aligns producer and midstream interests, providing Targa with a strategic plant on the west side of our system supported by a significant acreage dedication and a long-term, fee-based contract with a very successful producer,” said Mr. Perkins.

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).

Targa Said to Abandon Sale to Energy Transfer After Share Spike


By Matthew Monks and Jeffrey McCracken
Jun 23, 2014 10:01 PM MT

http://www.bloomberg.com/news/2014-06-24/targa-said-to-abandon-sale-to-energy-transfer-after-share-spike.html?cmpid=yhoo

Targa Resources Corp. and its operating unit called off a sale to Energy Transfer Equity LP (ETE) after news of the potential $15 billion deal sent Targa’s shares surging, making its board question whether the offer was high enough, people with knowledge of the matter said.

The combined market value of Targa Resources and its subsidiary, Targa Resources Partners LP (NGLS), swelled to about $16 billion on June 19 after Bloomberg News reported the talks, from more than $13 billion the day before. Energy Transfer was nearing a deal to buy the companies for more than $15 billion in cash and stock, people familiar with the situation said.

While Energy Transfer remains willing to do the deal, Targa is reluctant, said the people, who asked not to be identified because the matter is private. The report about a deal being near also hampered negotiations by raising suspicions that the talks were intentionally leaked to influence the sale process, the people said. Before the deal was halted, Energy Transfer had been out seeking debt to finance the purchase, one person said.

Jennifer Kneale, a spokeswoman for Targa, and Vicki Granado, a spokeswoman for Energy Transfer, didn’t respond to two phone calls seeking comment.

The deal would be the largest ever orchestrated by billionaire Kelcy Warren, who expanded Energy Transfer through a $13 billion buying spree in 2010 and 2011 into the country’s fourth-biggest pipeline company, according to data compiled by Bloomberg. The U.S. shale-fracking boom is increasing fuel supplies and propelling deals among the companies that transport oil and natural gas.

Energy Transfer is organized as a master limited partnership, or MLP, which pays no federal income taxes as long as it doles out most of its cash to shareholders. The structure encourages the partnerships to make acquisitions to appease growth-hungry investors who expect increasingly larger dividends.

Future Talks?

Targa released a statement June 19 saying “high level preliminary” talks with Energy Transfer had been terminated.

“There are no assurances whether or not discussions could resume or whether any agreement could be entered into in the future,” Targa said then.

Targa Resources Corp. (TRGP) is the general partner of Targa Resources LP, which means it oversees its operations and is entitled to a portion of the cash it distributes every quarter, according to regulatory filings.

Targa Resources Corp., based in Houston, rose about 2 percent yesterday in New York to $140.83, giving it a market value of almost $6 billion, while Targa Resources Partners LP climbed 2.8 percent to $72.10, giving it a value of $8.4 billion. Energy Transfer Equity increased less than 1 percent to $54.89, for a market value of almost $30 billion.


________________________________________________________________

Targa Resources Partners (NGLS) is a provider of natural gas and NGL products with existing gathering and processing facilities of 12,500 miles in pipelines and 20 plants.

Its services include gas gathering, processing, treating, fractionation, storage terminalling, and transportation throughout the United States. The company has access to the oil and gas producing regions including the Permian Basin, Fort Worth / Bend Arch Basin, South Louisiana Basin and deepwater, deep shelf Gulf of Mexico natural gas reserves.

Like other MLPs, NGLS is also targeting various shale gas concessions through acquisitions and capital expenditure (US$1.9 billion planned for 2012-2014) to strategically position itself.

This includes export-oriented infrastructure with the company currently spending US$480m to add pipelines and docks to almost triple the current capacity by Q3-2014.

Targa Resources Partners LP added $200 million to the $400 million private placement of 5.25 percent notes due May 2023 that it announced in October.

The placement closed in mid-December. The in-demand notes were priced at 101 percent of the principal amount to yield 5.093 percent.

Management will use proceeds from the placement for general purposes, which could include meeting working capital requirements as well as funding acquisitions.

I am bullish 2013.

Targa Resources Partners (NGLS)

Market Cap: $3.5 Billion

Dividend Yield: 7.09%

Targa is an MLP, which operates in the Continental United States, with a large presence in Texas and Louisiana. The company is pursuing a change in its revenue structure, as it currently receives about 45% of its revenue from fee based contracts, Targa wants to increase this percentage to a range of 55%-65% by 2014 and maintain this percentage thereafter.

Targa has grown its distribution to shareholders at a CAGR of 10% since the beginning of 2010. Additionally, the company plans on increasing distributions by 10-12% in 2013.

Targa is planning to spend more than $1.9 Billion in organic capex through 2014. The stock is up less than 1% over the past 52 weeks, and is down by approximately 9% over the past three months.

Targa Resources Announces Second Quarter 2012 Dividend and Distribution

Jul 11, 2012 4:38:00 PM
2012 GlobeNewswire, Inc.
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HOUSTON, July 11, 2012 (GLOBE NEWSWIRE) -- Targa Resources Corp. ("TRC" or the "Company") (NYSE:TRGP) and Targa Resources Partners LP ("Targa Resources Partners" or the "Partnership") (NYSE:NGLS) announced their respective quarterly dividend and distribution for the second quarter of 2012.

Targa Resources Corp. announced today that its board of directors has declared a quarterly cash dividend of 39.375¢ per share, or $1.575 per common share on an annualized basis, for the second quarter 2012. The approved dividend represents increases of approximately 8% over the previous quarter's dividend and 36% over the dividend for the second quarter 2011. This cash dividend will be paid August 15, 2012 on all outstanding common shares to holders of record as of the close of business on July 23, 2012.

Targa Resources Partners LP announced today that the board of directors of its general partner has declared a quarterly cash distribution of 64.25¢ per common unit, or $2.57 per common unit on an annualized basis, for the second quarter 2012. The approved distribution represents an increase of approximately 3% over the previous quarter's distribution and 13% over the distribution for the second quarter 2011. This cash distribution will be paid August 14, 2012 on all outstanding common units to holders of record as of the close of business on July 23, 2012.

About Targa Resources Corp. and Targa Resources Partners LP

Targa Resources Corp. is a publicly traded Delaware corporation that owns a 2% general partner interest (which the Company holds through its 100% ownership interest in the general partner of the Partnership), all of the outstanding incentive distribution rights and a portion of the outstanding limited partner interests in Targa Resources Partners LP.

Targa Resources Partners is a publicly traded Delaware limited partnership that is a leading provider of midstream natural gas and natural gas liquid services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas; and storing, fractionating, treating, transporting and selling natural gas liquids, or NGLs, and NGL products; and storing and terminaling refined petroleum products and crude oil. The Partnership owns an extensive network of integrated gathering pipelines and gas processing plants and currently operates along the Louisiana Gulf Coast primarily accessing the onshore and near offshore region of Louisiana, the Permian Basin in West Texas and Southeast New Mexico and the Fort Worth Basin in North Texas. Additionally, the Partnership's logistics and marketing assets are located primarily at Mont Belvieu and Galena Park near Houston, Texas and in Lake Charles, Louisiana with terminals and transportation assets across the United States. Targa Resources Partners is managed by its general partner, Targa Resources GP LLC, which is indirectly wholly owned by Targa Resources Corp.

The principal executive offices of Targa Resources Corp. and Targa Resources Partners are located at 1000 Louisiana, Suite 4300, Houston, TX 77002 and their telephone number is 713-584-1000.

~ Monday! $NGLS ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $NGLS ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








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http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

This is a great buy and hold MLP.

Followed some chatter. Marked the board & the moderator. GLTA!

Doing well today...

Another great income generator and a great way to play the future of natural gas.

This is another growth and income play that will put coin in yor pocket.

Good balance sheet, great business plan... What is not to like?

Targa is another one of my MLP plays... I see this board is overlooked..