Midstream energy company Targa Resources Corp said on Thursday it is no longer in discussions with Energy Transfer Equity LP, the pipeline company controlled by billionaire Kelcy Warren, regarding a deal.Targa responded to a Bloomberg report on Thursday that said Energy Transfer is near a deal to purchase Houston-based Targa Resources and its energy logistics operating unit Targa Resources Partners LP.Targa confirmed that the company and its operating unit "previously engaged in high-level preliminary discussions regarding a potential business combination with Dallas-based Energy Transfer Equity, and certain of its affiliates ... (but) those discussions have been terminated," Targa said.Bloomberg reported that Targa Resources and Targa Resources Partners could be valued at more than $15 billion, citing people familiar with the matter.
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, 1563120 shares of ETE exchange hands on a given day and today's volume is recorded at 1192935.
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 $83.49. On average, 302152 shares of NGLS exchange hands on a given day and today's volume is recorded at 1010818.
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 $160.97. On average, 289291 shares of TRGP exchange hands on a given day and today's volume is recorded at 1374436.
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