Targa Resources (TRGP) to Acquire Remaining Targa Resources Partners (NGLS) Shares
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Go back to Targa Resources (TRGP) to Acquire Remaining Targa Resources Partners (NGLS) Shares
November 3, 2015 7:05 AM EST
Immediately accretive to TRC shareholdersTRP unitholders to receive 0.62 shares of TRC per unit in all equity transaction18% premium to TRP 10-trading day volume weighted average closing price15% 2016 estimated dividend growthGreater than 10% estimated compound annual dividend growth from 2015 to 2018 with estimated 2016 coverage over 1.1x and estimated annual coverage over 1.05x through 2018Elimination of incentive distribution rights improves cost of capital and simplifies capital structureLeverage expected to reduce over time with increased retained cash flowTransaction expected to close in Q1 2016
HOUSTON, Nov. 03, 2015 (GLOBE NEWSWIRE) -- Targa Resources... More
November 3, 2015 7:01 AM EST
HOUSTON, Nov. 03, 2015 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (NYSE: NGLS) (Targa Resources Partners, the Partnership or TRP) and Targa Resources Corp. (NYSE: TRGP) (TRC or the Company) today reported third quarter results.
Targa Resources Partners Third Quarter 2015 Financial Results
Third quarter 2015 net income attributable to Targa Resources Partners was $48.5Â million compared to $128.3Â million for the third quarter of 2014. Net income per diluted limited partner unit was $0.02 in the third quarter of 2015... More
