TARGA RESOURCES PARTNERS LP - COMMON UNITS REPRESE (NGLS, Financial) filed Quarterly Report for the period ended 2010-03-31.
Targa Resources Partners Lp - Common Units Represe has a market cap of $1.77 billion; its shares were traded at around $25.46 with a P/E ratio of 18.7 and P/S ratio of 0.5. The dividend yield of Targa Resources Partners Lp - Common Units Represe stocks is 8.2%.NGLS is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Revenues increased by $431.2 million, or 47%, to $1,347.2 million for 2010 compared to $916.0 million for 2009. Revenues from the sale of natural gas increased by $65.6 million, consisting of increases of $27.2 million due to higher realized prices and $38.4 million due to higher sales volumes. Revenues from the sale of NGL increased by $356.4 million, consisting of an increase of $468.7 million due to higher realized prices, offset by a decrease of $112.3 million due to lower sales volumes. Revenues from the sale of condensate increased by $6.3 million, which is the net of an increase of $7.1 million due to higher realized prices and a decrease of $0.8 million due to lower sales volumes. Non-commodity revenues, which principally include revenues derived from fee-based services and business interruption insurance, increased by $2.9 million.
Our average realized prices for natural gas increased by $0.67 per MMBtu, or 15%, to $5.23 per MMBtu for 2010 compared to $4.56 per MMBtu for 2009. Our average realized prices for NGL increased by $0.50 per gallon, or 76%, to $1.16 per gallon for 2010 compared to $0.66 per gallon for 2009. Our average realized price for condensate increased by $33.96 per barrel, or 83%, to $75.10 per barrel for 2010 compared to $41.14 per barrel for 2009.
Revenues increased $138.2 million, or 58%, to $377.2 million for 2010 compared to $239.0 million for 2009. The increase was primarily due to an increase attributable to prices of $98.3 million, consisting of increases in natural gas, NGL and condensate revenues of $27.2 million, $63.6 million and $7.5 million; an increase attributable to volumes of $40.1 million, consisting of increases in natural gas and NGL revenues of $38.4 million and $4.7 million, partially offset by a decrease in condensate revenues of $3.0 million and a decrease in fee and other revenues of $0.2 million.
Average realized prices for our sales of natural gas increased by $0.67 per MMBtu, or 15%, to $5.23 per MMBtu during 2010 compared to $4.56 per MMBtu for 2009. Average realized prices for our sales of NGLs increased by $0.44 per gallon, or 79%, to $1.00 per gallon for 2010 compared to $0.56 per gallon for 2009. Average realized prices for our sales of condensate increased by $33.96 per Bbl, or 83%, to $75.10 per Bbl for 2010 compared to $41.14 per Bbl for 2009.
Product purchases during 2010 were $323.0 million, which increased by $128.5 million or 66%, compared to $194.5 million during 2009. The increase in product purchase cost reflects higher commodity pricing and lower purchases of wellhead volumes.
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Targa Resources Partners Lp - Common Units Represe has a market cap of $1.77 billion; its shares were traded at around $25.46 with a P/E ratio of 18.7 and P/S ratio of 0.5. The dividend yield of Targa Resources Partners Lp - Common Units Represe stocks is 8.2%.NGLS is in the portfolios of Jim Simons of Renaissance Technologies LLC.
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 $121.9 million. Pursuant to the exercise of the underwriters overallotment option, we sold an additional 825,000 common units at $23.14 per common unit, providing net proceeds of $18.3 million. We used the net proceeds from the offering for general partnership purposes, which included reducing borrowings under our senior secured credit facility.Revenues increased by $431.2 million, or 47%, to $1,347.2 million for 2010 compared to $916.0 million for 2009. Revenues from the sale of natural gas increased by $65.6 million, consisting of increases of $27.2 million due to higher realized prices and $38.4 million due to higher sales volumes. Revenues from the sale of NGL increased by $356.4 million, consisting of an increase of $468.7 million due to higher realized prices, offset by a decrease of $112.3 million due to lower sales volumes. Revenues from the sale of condensate increased by $6.3 million, which is the net of an increase of $7.1 million due to higher realized prices and a decrease of $0.8 million due to lower sales volumes. Non-commodity revenues, which principally include revenues derived from fee-based services and business interruption insurance, increased by $2.9 million.
Our average realized prices for natural gas increased by $0.67 per MMBtu, or 15%, to $5.23 per MMBtu for 2010 compared to $4.56 per MMBtu for 2009. Our average realized prices for NGL increased by $0.50 per gallon, or 76%, to $1.16 per gallon for 2010 compared to $0.66 per gallon for 2009. Our average realized price for condensate increased by $33.96 per barrel, or 83%, to $75.10 per barrel for 2010 compared to $41.14 per barrel for 2009.
Revenues increased $138.2 million, or 58%, to $377.2 million for 2010 compared to $239.0 million for 2009. The increase was primarily due to an increase attributable to prices of $98.3 million, consisting of increases in natural gas, NGL and condensate revenues of $27.2 million, $63.6 million and $7.5 million; an increase attributable to volumes of $40.1 million, consisting of increases in natural gas and NGL revenues of $38.4 million and $4.7 million, partially offset by a decrease in condensate revenues of $3.0 million and a decrease in fee and other revenues of $0.2 million.
Average realized prices for our sales of natural gas increased by $0.67 per MMBtu, or 15%, to $5.23 per MMBtu during 2010 compared to $4.56 per MMBtu for 2009. Average realized prices for our sales of NGLs increased by $0.44 per gallon, or 79%, to $1.00 per gallon for 2010 compared to $0.56 per gallon for 2009. Average realized prices for our sales of condensate increased by $33.96 per Bbl, or 83%, to $75.10 per Bbl for 2010 compared to $41.14 per Bbl for 2009.
Product purchases during 2010 were $323.0 million, which increased by $128.5 million or 66%, compared to $194.5 million during 2009. The increase in product purchase cost reflects higher commodity pricing and lower purchases of wellhead volumes.
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