Targa Reports Good Fourth Quarter; 2018 Guidance Meets Our Expectations
Targa’s fourth-quarter results were in line with our expectations, similar to its 2018 guidance, and we don’t plan on material changes to our $44 fair value estimate or no moat rating. EBITDA improved to $328 million from $298 million last year, mainly due to a 25% increase in Permian gathering and processing volumes. Distributable cash flow was $275 million, putting the firm at a 1.2 times coverage ratio for the quarter, but just 1 times for the full year. Given the firm’s capital spending plan...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.