Energy Transfer Equity LP, the pipeline company controlled by billionaire Kelcy Warren, is near a deal to purchase midstream energy company Targa Resources Corp and its operating unit, Bloomberg reported, citing people familiar with the matter. Targa and its energy logistics unit, Targa Resources Partners LP, could be valued at more than $15 billion, Bloomberg reported, citing two of the people. (bloom.bg/1rcHIYN)The deal could also involve another midstream energy company, Regency Energy Partners LP, which is controlled by Energy Transfer, the report said.Targa Resources has a market value of about $5.27 billion and Targa Resources Partners has a market capitalization of about $8 billion.The transaction would be the biggest North American pipeline deal since Houston-based energy conglomerate Kinder Morgan Inc bought El Paso Pipeline Partners for about $21 billion in 2012, Bloomberg said.
Energy Transfer Equity, L.P. (Energy Transfer Equity) is a limited partnership company. Shares of ETE fell by 0.2% or $-0.11/share to $53.72. In the past year, the shares have traded as low as $26.56 and as high as $54.84. On average, 1566960 shares of ETE exchange hands on a given day and today's volume is recorded at 1161555.
Kinder Morgan, Inc. (KMI) owns and manages a diversified portfolio of energy transportation and storage assets. Shares of KMI traded higher by 0.94% or $0.33/share to $35.40. In the past year, the shares have traded as low as $30.81 and as high as $40.45. On average, 5457960 shares of KMI exchange hands on a given day and today's volume is recorded at 7080445.
Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (Targa). Shares of NGLS traded higher by 17.74% or $12.29/share to $81.55. In the past year, the shares have traded as low as $43.54 and as high as $70.16. On average, 290323 shares of NGLS exchange hands on a given day and today's volume is recorded at 1000058.
Regency Energy Partners LP (the Partnership) is engaged in the gathering and processing, contract compression, treating and transportation of natural gas and the transportation, fractionation and storage of natural gas liquids (NGLs). Shares of RGP traded higher by 3.54% or $1.04/share to $30.46. In the past year, the shares have traded as low as $23.70 and as high as $29.88. On average, 952973 shares of RGP exchange hands on a given day and today's volume is recorded at 1710796.
Targa Resources Corp. (Targa) forms the Partnership to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. Shares of TRGP traded higher by 20.45% or $25.57/share to $150.62. In the past year, the shares have traded as low as $60.01 and as high as $125.12. On average, 272086 shares of TRGP exchange hands on a given day and today's volume is recorded at 1336951.
Source