Targa Resources Partners LP Announces Third Quarter 2009 Distribution and Timing of Third Quarter 2009 Earnings Release and Conference Call

HOUSTON, Oct. 19, 2009 (GLOBE NEWSWIRE) -- Targa Resources Partners LP (Nasdaq:NGLS - News) ("Targa Resources Partners" or the "Partnership") announced today that the board of directors of its general partner (the "Board") has declared a quarterly cash distribution of 51.75c per common unit, or $2.07 per common unit on an annualized basis, for the third quarter of 2009. This cash distribution will be paid November 13, 2009 on all outstanding common units to holders of record as of the close of business on November 4, 2009. The partnership will report its third quarter 2009 earnings before the NASDAQ Stock Market opens for trading on Wednesday, November 4, 2009. Following the announcement, the Partnership will host a conference call for investors and analysts at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) to discuss third quarter results. The conference call can be accessed via Webcast through the Investor's section of the Partnership's website at http://www.targaresources.com or by dialing 800-762-8908. The pass code is 4173122. Please dial in ten minutes prior to the scheduled start time. A replay will be available approximately two hours following completion of the Webcast through the Investor's section of...
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TARGA RESOURCES PARTNERS LP Files SEC form 8-K, Entry into a Material Definitive Agreement, Completion of Acquisition

Item 1.01 Entry Into a Material Definitive Agreement. Contribution, Conveyance and Assumption Agreement Targa Resources Partners LP, a Delaware limited partnership (the "Partnership"), previously announced that it had entered into a Purchase and Sale Agreement (the "Purchase Agreement") on July 27, 2009 with Targa GP Inc. and Targa LP Inc. (the "Sellers"), subsidiaries of Targa Resources, Inc. ("Targa"), pursuant to which the Sellers agreed to sell, assign, transfer and convey to the Partnership (i) 100% of the limited liability company interests in Targa Downstream GP LLC ("Targa Downstream GP"), a Delaware limited liability company, (ii) 100% of the limited liability company interests in Targa LSNG GP LLC ("Targa LSNG GP"), a Delaware limited liability company, (iii) 100% of the limited partner interests in Targa Downstream LP ("Targa Downstream LP"), a Delaware limited partnership, and (iv) 100% of the limited partner interests in Targa LSNG LP ("Targa LSNG LP"), a Delaware limited partnership (such limited liability company interests in Targa Downstream GP and Targa LSNG GP and limited partner interests in Targa Downstream LP and Targa LSNG LP being collectively referred to as the "Purchased Interests"), for aggregate consideration of $530 million, subject to certain adjustments. Targa Downstream LP and Targa LSNG LP, collectively, own Targa's natural gas liquids business (the "Downstream Business") consisting of (i) the Logistics Assets Segment, which consists of fractionation facilities, storage and terminalling facilities, low sulfur natural gasoline treating facilities, pipeline transportation and distribution assets, propane storage, truck terminals and NGL transport assets, as well as Targa's approximately 39% equity method investment in Gulf Coast Fractionators, (ii) the NGL Distribution and Marketing Segment, which markets NGL production and purchases mixed or comp...
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Targa Resources Partners LP Reports Third Quarter 2009 Financial Results

HOUSTON, Nov. 4, 2009 (GLOBE NEWSWIRE) -- Targa Resources Partners LP ("Targa Resources Partners" or the "Partnership") (Nasdaq:NGLS - News) today reported third quarter 2009 net income attributable to Targa Resources Partners of $10.0 million or $0.23 per diluted limited partner unit. The Partnership reported earnings before interest, income taxes, depreciation and amortization and non-cash income or loss related to derivative instruments ("Adjusted EBITDA") of $69.1 million for the third quarter of 2009. Distributable cash flow for the quarter was $51.5 million which corresponds to distribution coverage of approximately 1.46 times for the 62.9 million total units outstanding on September 30, 2009 (see the section of this release entitled "Non-GAAP Financial Measures" for a discussion of Adjusted EBITDA, operating margin and distributable cash flow, and reconciliations of such measures to the comparable GAAP measures). "We are excited to have closed the acquisition of the Downstream Business during the third quarter, and are pleased with the Partnership's very solid third quarter results. We currently expect the Downstream Business to generate 2009 Adjusted EBITDA that exceeds our guidance range of $80 to $85 million. Furthermore, our total gathering and processing volumes continue to perform above last year's levels," said Rene Joyce, Chief Executive Officer of the Partnership's general partner and of Targa Resources, Inc. ("Targa"). On October 19, 2009, the Partnership announced a cash distri...
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Q3 2009 TARGA RESOURCES PARTNERS LP Earnings Release - Before Market Open

Earnings Announcements for Wednesday, November 4CompanySymbolTimeConferenceCall99 CENTS OnlyNDNAfter Market CloseAdept TechnologyADEPAfter Market CloseAffymax, Inc.AFFYBefore Market OpenAgilysys, Inc.AGYSBefore Market OpenAgrium Inc.AGUBefore Market OpenListenAlamo GroupALGAfter Market CloseALGOMA CENTRAL CORPALC.TOTime Not SuppliedALLIANCE BANKSHARES CORPABVAAfter Market CloseAllied Motion Technologies, Inc.AMOTTime Not SuppliedListenAlmost FamilyAFAMBefore Market OpenAlnylam PharmaceuticalsALNYAfter Market CloseListenAlon USA Energy Inc.ALJAfter Market CloseAlterian plcALN.LTime Not SuppliedAlvarionALVRBefore Market OpenListenAmbac Financial GroupABK08:30 am ETListenAmbassadors International, Inc.AMIEAfter Market CloseAmdocs LimitedDOX...
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TARGA RESOURCES PARTNERS LP Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements a

Show all filings for TARGA RESOURCES PARTNERS LP | Request a Trial to NEW EDGAR Online Pro Form 8-K for TARGA RESOURCES PARTNERS LP 4-Nov-2009Results of Operations and Financial Condition, Financial Statements a Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informatio...
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Targa Resources Partners LP Q3 2009 Earnings Call Transcript

Targa Resources Partners LP (NGLS) Q3 2009 Earnings Call Transcript November 5, 2008, 12:00 pm ET Executives Anthony Riley – Senior Manager, Finance/IR Rene Joyce – CEO Jeff McParland – EVP and CFO Analysts Chris Holt – Barclays Capital Presentation Operator Good morning, ladies and gentlemen, thank you for standing by. Welcome to the Targa Resources, Inc. conference call. During today’s presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be opened for questions. (Operator instructions) This conference is being recorded today, November 4, 2009. I would now like to turn the conference over to Anthony Riley. Please go ahead, sir. Anthony Riley Good morning. Thank you, operator. I’m Anthony Riley and I would like to welcome you to Targa’s third quarter 2008 conference call. Thanks for joining us. Before we get started, I would like to mention that Targa published an earnings release this morning and it is available on our Web site at www.targaresources.com. Speaking on the call today will be Rene Joyce, Chief Executive Officer and Jeff McParland, Executive Vice President and Chief Financial Officer. Rene and Jeff are going to be comparing the third quarter '09 to the third quarter '08 and providing additional color on performance and recent activities. Before we begin, I would like to remind you that this call contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Exchange Act of 1934 as amended. Forward-looking sta...
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New Star Analyst Rankings for Targa Resources Partners LP

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Copyright © 1999-2003, StarMine Corp. All rights reserved.StarMine Corp. derives analyst ratings from estimate and recommendation data supplied by Thomson Financial.Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data, daily updates, fund summary, fund performance, dividend data and...
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Targa Resources Partners LP to Present at the RBC Capital Markets MLP Conference in Dallas, TX

Targa Resources Partners LP to Present at the RBC Capital Markets MLP Conference in Dallas, TX - Yahoo! Finance.gnwlistitemmarginbottom {margin-bottom: 10.0px} .gnwtablebottommargin {margin-bottom: 10.0px} .gnwcellpaddingleft0 {padding-left: 0.0px} .gnwverticalaligntop {vertical-align: top} .gnwtextaligncenter {text-align: center} .gnwcellparagraphmargin {margin-bottom: 0px; margin-top: 0px} .gnwverticalalignbottom {vertical-align: bottom} .gnwwhitespacenowrap {white-space: nowrap} .gnwtextalignright {text-align: right} .gnwcellpaddingright0 {padding-right: 0.0px} .gnwunderlinestyle {text-decoration: underline} .gnwtextalignleft {text-align: left} .gnw_heading {font: 16px Arial; text-align: center} .gnw_subhead {font: 12px Arial; text-align: center} .gnw_colhead {font: 12px Arial; text-align: center} .gnw_colhead_uline {font: 12px Arial; text-align: center; border-bottom: solid black 1.0pt;} .gnw_colhead_dline {font: 12px Arial; text-align: center; border-bottom: double black 2.5pt;} .gnw_label {font: 12px Arial; vertical-align: bottom; text-align: left } .gnw_label_uline {font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: solid black 1.0pt;} .gnw_label_uline_i10 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_uline_i15 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_uline_i20 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_uline_i25 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_uline_i30 {font: 12px Arial; vertical-align: bottom; text-align: right; border-bottom: solid black 1.0pt;} .gnw_label_dline {font: 12px Arial; vertical-align: bottom; text-align: left; border-bottom: double black 2.5pt;} .gnw_label_i10 {font: 12px Arial; vertical-align: bottom; text-align: left; padding-left: 10.0px;} .gnw_label_i15 {font: 12px Arial; vertical-align: bott...
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TARGA RESOURCES PARTNERS LP Financials

PERIOD ENDING30-Sep-0930-Jun-0931-Mar-0931-Dec-08Total Revenue2,342,587  240,663  239,034  352,782  Cost of Revenue2,079,131  172,698  207,467  293,279  Gross Profit263,456  67,965  31,567  59,503  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative159,063  32,341  5,321  18,594  Non Recurring -   -   -  150  Others37,640  18,972  18,878  19,039  Total Operating Expenses -   -   -   -  Operating Income or Loss66,760  16,652  7,368  21,720  Income from Continuing OperationsTotal Other Income/Expenses Net1,112   -  726  13,072  Earnings Before Interest And Taxes71,086  16,652  8,094  34,792  Interest Expense60,543  9,774  9,924  10,831  Income Before Tax10,543  6,878  (1,830)23,961  Income Tax Expense200  300  300  300  Minority Interest(1,179) -   -   -  Net Income From Continuing Ops12,385  6,578  (2,130)23,661  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Ef...
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TARGA RESOURCES PARTNERS LP Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion analyzes our financial condition and results of operations. You should read the following discussion of our financial condition and results of operations in conjunction with our consolidated financial statements and notes included elsewhere in this Quarterly Report and in our consolidated financial statements and notes thereto included in our Annual Report. Overview We are a Delaware limited partnership formed by Targa to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. Our business operations consist of natural gas gathering and processing, and the fractionating, storing, terminalling, transporting, distributing and marketing of natural gas liquids ("NGLs"). We are owned 98% by our limited partners and 2% by our general partner, Targa Resources GP LLC, an indirect, wholly-owned subsidiary of Targa. In addition, Targa owns 20,055,846 common units, representing a 31.9% limited partner interest in us, through its indirect wholly-owned subsidiaries, Targa GP Inc. and Targa LP Inc. Our common units are publicly traded on The NASDAQ Stock Market LLC under the symbol "NGLS." Our Operations Our gathering and processing assets are located primarily in the Fort Worth Basin in North Texas, the Permian Basin in West Texas and the onshore region of the Louisiana Gulf Coast. Our NGL logistics and marketing assets are located primarily at Mont Belvieu and Galena Park near Houston, Texas and in Lake Charles, Louisiana, with terminals and transportation assets across the United States. We conduct our business operations through two divisions and report our results of operations under four segments: our Natural Gas Gathering and Processing division, is a single segment consisting of our natural gas gathering and processing facilities, as well as certain fractionation ...
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