It has been a good year, on the other hand, for shareholders of Targa Resources (TRGP), the small-cap general partner of midstream energy MLP Targa Resources Partners (NGLS). Shares of the firm have climbed more than 18% year-to-date.
That makes for a pretty attractive operating history for TRGP. The firm only went public back in 2010; until then, NGLS was the only way to get exposure to the business. The firm has been doing substantial restructuring in recent years, transferring all of its operating assets over to NGLS, and preferring instead to make TRGP solely a general partner stake in the better-known firm. It's a move that should add considerable operating scale to the MLP -- and improve the fortunes of both sets of stakeholders.Last week, TRGP's management announced a 6.03% dividend increase, bringing its total yield to 3.88% at current prices. To see these dividend plays in action, check out the Dividend Stocks for the Week portfolio on Stockpickr. And if you haven't already done so, join Stockpickr today to create your own dividend portfolio. -- Written by Jonas Elmerraji in Baltimore.
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