Targa Stock To Go Ex-dividend Tomorrow (NGLS)

NEW YORK (TheStreet) -- The ex-dividend date for Targa Resources Partners (NYSE:NGLS) is tomorrow, April 19, 2012. Owners of shares as of market close today will be eligible for a dividend of 62 cents per share. At a price of $42.11 as of 9:30 a.m. ET, the dividend yield is 6%.

The average volume for Targa has been 312,900 shares per day over the past 30 days. Targa has a market cap of $3.68 billion and is part of the basic materials sector and energy industry. Shares are up 11.9% year to date as of the close of trading on Tuesday.

Targa Resources Partners LP provides midstream natural gas and natural gas liquid (NGL) services in the United States. The company operates in two divisions, Natural Gas Gathering and Processing, and Logistics and Marketing. The company has a P/E ratio of 21.1, above the average energy industry P/E ratio of 20.8 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Targa as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income, good cash flow from operations, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Targa Ratings Report.

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