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NEW YORK ( TheStreet) -- Targa Resources Partners (NYSE: NGLS) hit a new 52-week high Thursday as it is currently trading at $39.95, above its previous 52-week high of $39.85 with 58,187 shares traded as of 10:30 a.m. ET. Average volume has been 327,600 shares over the past 30 days. Targa has a market cap of $3.32 billion and is part of the basic materials sector and energy industry. Shares are up 6.3% year to date as of the close of trading on Wednesday. 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 23.9, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7.