Targa Resources Q4 Profit Rises - Quick Facts

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

Targa Resources Corp. (TRGP) reported that fourth-quarter net income to shareholders grew to $25.6 million or $0.61 per share from $20.4 million or $0.48 per share in the prior-year quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.64 for the quarter. Analysts' estimates typically exclude special items.

Targa Resources Partners LP (NGLS) reported that fourth-quarter net income to company edged down to $108.2 million from $108.6 million a year ago. Net income per limited partner unit was $0.58, compared to $0.70 in the year-ago quarter.

Analysts expected the company to report earnings of $0.59 per share for the quarter.

Revenues for the quarter declined to $2.03 billion from $2.10 billion in the same quarter last year. Analysts expected revenue of $2.17 billion for the quarter.

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