UPDATE: UBS Resumes Targa Resources Partners, L.P. (NGLS) at Buy; Dominant Midstream Provider

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(Updated - August 22, 2012 11:15 AM EDT)

UBS resumes coverage on Targa Resources Partners, L.P. (NYSE: NGLS) with a Buy. PT $45.00.

Analyst, Christopher P. Sighinolfi, said, "NGLS operates in two midstream segments: 1) Field G&P and 2) Coastal G&P, and two downstream segments: 1) Logistics Services and 2) Marketing & Distribution. Its asset portfolio is primarily concentrated in the Southern US and Gulf Coast regions and reflects a history of strategic acquisitions and successful organic growth initiatives."

For an analyst ratings summary and ratings history on Targa Resources Partners, L.P. click here. For more ratings news on Targa Resources Partners, L.P. click here.

Shares of Targa Resources Partners, L.P. closed at $40.63 yesterday, with a 52 week range of $30.01-$45.42.

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