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NEW YORK ( TheStreet) -- Targa Resources Partners (NYSE: NGLS) hit a new 52-week high Monday as it is currently trading at $43.26, above its previous 52-week high of $43.18 with 399,850 shares traded as of 3:50 p.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 12.7% year to date as of the close of trading on Friday. 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 21.2, below the average energy industry P/E ratio of 23.9 and above the S&P 500 P/E ratio of 17.7.