TARGA RESOURCES PARTNERS LP - COMMON UNITS REPRESE (NGLS, Financial) filed Quarterly Report for the period ended 2010-09-30.
Targa Resources Partners Lp - Common Units Represe has a market cap of $2.12 billion; its shares were traded at around $30.72 with a P/E ratio of 23.3 and P/S ratio of 0.5. The dividend yield of Targa Resources Partners Lp - Common Units Represe stocks is 7.1%.
On April 27, 2010, we completed our acquisition of Targas interests in its Permian and Straddle Systems, which consists of natural gas gathering and processing businesses located in West Texas and the Gulf Coast region of Louisiana, for $420.0 million, effective April 1, 2010. We financed this acquisition substantially through borrowings under our senior secured revolving credit facility. The total consideration was used to repay outstanding affiliated indebtedness of $332.8 million, with the remaining $87.2 million reported as a distribution to our parent. This acquisition is reflected in our financial statements as a transfer of assets under common control.
Revenue increased $98.9 million due to higher commodity prices ($183.1 million) offset by lower sales volumes ($83.8 million) and lower fee-based and other revenues ($0.4 million).
The $3.0 million increase in gross margin reflects higher revenue of $98.9 million offset by higher product purchase costs of $95.9 million.
Revenues increased $817.7 million due to higher commodity prices ($1,080.5 million) offset by lower sales volumes ($249.0 million), lower business interruption proceeds ($6.0 million) and lower fee-based and other revenues ($7.8 million).
The $54.6 million increase in gross margin reflects higher revenues of $817.7 million, offset by higher product purchase costs of $763.1 million.
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Targa Resources Partners Lp - Common Units Represe has a market cap of $2.12 billion; its shares were traded at around $30.72 with a P/E ratio of 23.3 and P/S ratio of 0.5. The dividend yield of Targa Resources Partners Lp - Common Units Represe stocks is 7.1%.
Highlight of Business Operations:
On January 19, 2010, we completed a public offering of 5,500,000 common units representing limited partner interests in the Partnership (common units) under our existing shelf registration statement on Form S-3 at a price of $23.14 per common unit ($22.17 per common unit, net of underwriting discounts), providing net proceeds of $121.4 million. Pursuant to the exercise of the underwriters overallotment option, we sold an additional 825,000 common units, providing net proceeds of $18.3 million. In addition, our general partner contributed $3.0 million for 129,082 common units to maintain its 2% interest in the Partnership. We used the net proceeds from the offering for general partnership purposes, which included reducing borrowings under our senior secured credit facility.On April 27, 2010, we completed our acquisition of Targas interests in its Permian and Straddle Systems, which consists of natural gas gathering and processing businesses located in West Texas and the Gulf Coast region of Louisiana, for $420.0 million, effective April 1, 2010. We financed this acquisition substantially through borrowings under our senior secured revolving credit facility. The total consideration was used to repay outstanding affiliated indebtedness of $332.8 million, with the remaining $87.2 million reported as a distribution to our parent. This acquisition is reflected in our financial statements as a transfer of assets under common control.
Revenue increased $98.9 million due to higher commodity prices ($183.1 million) offset by lower sales volumes ($83.8 million) and lower fee-based and other revenues ($0.4 million).
The $3.0 million increase in gross margin reflects higher revenue of $98.9 million offset by higher product purchase costs of $95.9 million.
Revenues increased $817.7 million due to higher commodity prices ($1,080.5 million) offset by lower sales volumes ($249.0 million), lower business interruption proceeds ($6.0 million) and lower fee-based and other revenues ($7.8 million).
The $54.6 million increase in gross margin reflects higher revenues of $817.7 million, offset by higher product purchase costs of $763.1 million.
Read the The complete Report
