UBS Starts Targa Resources Partners, L.P. (NGLS) at Buy

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Go back to UBS Starts Targa Resources Partners, L.P. (NGLS) at Buy

Targa Resources (NLGS) Sees Q1 adj.-EBOTDA of $210M; Updates on Operations

March 31, 2014 4:47 PM EDT

Targa Resources Partners (NYSE: NGLS) announced the following regarding preliminary first quarter of 2014 results, operating and financial outlook for 2014 and an update on 2014 growth capital expenditures including new growth projects.

Targa Resources Partners LP Financial Update

Based on preliminary results for the first quarter of 2014, the Partnership expects Adjusted EBITDA of approximately $210 million. Increased liquefied petroleum gas ("LPG") export activity, higher commodity prices and improved performance across the Partnership's businesses during the first quarter contributed to preliminary Adjusted EBITDA being approximately 60% higher than the first quarter of 2013.

The Partnership estimates... More