Targa Resources Q3 Profit Rises - Quick Facts

(RTTNews) - Targa Resources Partners LP (NGLS) and Targa Resources Corp. (TRGP) reported third quarter 2014 results.

Targa Resources Corp. (TRGP) reported third-quarter net income to shareholders of $30.7 million, compared to $16.3 million, a year ago. Net income per share was $0.73, compared to $0.39. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.65 for the quarter. Analysts' estimates typically exclude special items.

Targa Resources Partners LP (NGLS) reported third-quarter net income to company of $128.3 million, compared to $59.7 million, a year ago. Net income per limited partner unit was $0.78, compared to $0.30, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.68 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $2.29 billion, compared to $1.47 billion, a year ago. Analysts expected revenue of $2.28 billion for the quarter.

Targa Resources Corp. is a publicly traded Delaware corporation that owns a 2% general partner interest, all of the outstanding incentive distribution rights and a portion of the outstanding limited partner interests in Targa Resources Partners LP.