HOUSTON, Feb. 24, 2011 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (NYSE:NGLS) ("Targa Resources Partners" or the "Partnership") and Targa Resources Corp. (NYSE:TRGP) ("TRC or the "Company") today reported fourth quarter and full year 2010 results. Fourth quarter 2010 net income attributable to Targa Resources Partners was $35.9 million while net income attributable to limited partners was $0.39 per diluted limited partner unit, compared to a net income of $25.4 million and net income attributable to limited partners of $0.52 per diluted limited partner unit for the fourth quarter of 2009. Net income for the fourth quarters of 2010 and 2009 included $10.2 million and $25.3 million in non-cash charges related to derivative instruments, respectively. The fourth quarter 2009 also included $16.6 million in affiliate and allocated interest expense for periods prior to the acquisitions of the Downstream Business, the Permian assets, Coastal Straddles, Versado and VESCO by the Partnership. The Partnership reported earnings before interest, income taxes, depreciation and amortization and non-cash income or loss related to derivative instruments ("Adjusted EBITDA") of $115.8 million for the fourth quarter of 2010 compared to $123.0 million for the fourth quarter of 2009.
Targa Resources Partners LP And Targa Resources Corp. Report Fourth Quarter And Full Year 2010 Financial Results
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.