Baron Funds Comments on Targa Resources Corp

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Feb 25, 2014

2013 was a transformative year for midstream energy company Targa Resources Corp. (TRGP, Financial) with the completion of its $1 billion acquisition of the Bakken assets, development of natural gas liquids (NGL) export facilities in Galena Park, and continued growth across its field gathering systems. Despite challenging NGL pricing, Targa grew its dividend 35% in 2013, and we have high organic growth expectations around Targa's irreplaceable footprint and increased fee-based cash flows growth.

From Ron Baron (Trades, Portfolio)'s Baron Funds fourth quarter 2013 commentary.