Today Targa Resources Partners (NGLS) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Targa Resources Partners ( NGLS) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Targa Resources Partners as such a stock due to the following factors:

  • NGLS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $22.8 million.
  • NGLS has traded 7,857 shares today.
  • NGLS is trading at a new lifetime high.

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More details on NGLS:

Targa Resources Partners LP is engaged in the ownership, operation, acquisition, and development of midstream energy assets in the United States. The company operates through two divisions, Gathering and Processing, and Logistics and Marketing. The stock currently has a dividend yield of 5.5%. NGLS has a PE ratio of 46.0. Currently there are 7 analysts that rate Targa Resources Partners a buy, no analysts rate it a sell, and 5 rate it a hold.

The average volume for Targa Resources Partners has been 295,100 shares per day over the past 30 days. Targa has a market cap of $6.9 billion and is part of the basic materials sector and energy industry. The stock has a beta of 0.69 and a short float of 1.5% with 4.06 days to cover. Shares are up 15.8% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Targa Resources Partners as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, solid stock price performance, growth in earnings per share and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:
  • The revenue growth greatly exceeded the industry average of 7.6%. Since the same quarter one year prior, revenues rose by 41.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 225.1% when compared to the same quarter one year prior, rising from $33.40 million to $108.60 million.
  • Powered by its strong earnings growth of 400.00% and other important driving factors, this stock has surged by 28.68% over the past year, outperforming the rise in the S&P 500 Index during the same period. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.
  • TARGA RESOURCES PARTNERS LP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, TARGA RESOURCES PARTNERS LP reported lower earnings of $1.17 versus $1.20 in the prior year. This year, the market expects an improvement in earnings ($1.86 versus $1.17).
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. In comparison to the other companies in the Oil, Gas & Consumable Fuels industry and the overall market, TARGA RESOURCES PARTNERS LP's return on equity is significantly below that of the industry average and is below that of the S&P 500.

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