An issue of Targa Resources Partners LP (NYSE:NGLS) debt rose 1.2% as a percentage of its face value during trading on Tuesday. The debt issue has a 5% coupon and is set to mature on January 15, 2028. The debt is now trading at $97.44 and was trading at $95.25 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
Targa Resources Partners LP has a 52-week low of $8.91 and a 52-week high of $47.71.
About Targa Resources Partners (NYSE:NGLS)
Targa Resources Partners LP is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States with a presence in crude oil gathering and petroleum terminaling. The Company is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products, including services to liquefied petroleum gas (LPG) exporters; gathering, storing and terminaling crude oil, and storing, terminaling and selling refined petroleum products.
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