Stifel Downgrades Targa Resources Partners, L.P. (NGLS) to Hold
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Targa Resources Corp. Announces Agreement to Acquire Targa Resources Partners LP
November 3, 2015 7:05 AM ESTImmediately 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
