Targa Stock To Go Ex-dividend Tomorrow (NGLS)

NEW YORK ( TheStreet) -- The ex-dividend date for Targa Resources Partners (NYSE: NGLS) is tomorrow, January 19, 2012. Owners of shares as of market close today will be eligible for a dividend of 60 cents per share. At a price of $38.37 as of 9:30 a.m. ET, the dividend yield is 6.1%.

The average volume for Targa has been 278,100 shares per day over the past 30 days. Targa has a market cap of $3.36 billion and is part of the basic materials sector and energy industry. Shares are up 6.2% 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 through two divisions, Natural Gas Gathering and Processing; and NGL Logistics and Marketing. The company has a P/E ratio of 24.2, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Targa as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, solid stock price performance and notable return on equity. 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.

See our dividend calendar or top-yielding stocks list.

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