If any sector can elicit varying feeling and responses, it’s the energy master limited partnerships (MLPs). With the popular RBC MLP conference on tap for this week in Dallas, registration for the event reportedly is up 35% from 2014 and at an all-time high, with over 400 total attendees. With 200 or more institutional registrants, and 150 top executives from over 50 companies attending, there will be lots of questions, and companies will have a chance to showcase their strengths.
In a new research note, RBC had some very interesting anecdotal data from the “sentiment survey” investors and management at the top companies filled out. The report also had the companies listed that were receiving the most requests for one-on-one meetings. Here we highlight the four companies investors want to talk to the most. Investors should keep in mind that MLP distributions can contain return of principal.
Targa Resources Partners
The company was formed in October 2006 by its parent, Targa Resources, to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. Targa Resources Partners L.P. (NYSE: NGLS) is a leading provider of midstream natural gas and natural gas liquid (NGL) services in the United States, with a growing presence in crude oil gathering and petroleum terminaling.
The partnership 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.
Investors receive a monster 13.11% distribution. The Thomson/First Call consensus price target is $38.94. The shares closed most recently at $26.16.