Why Targa Resources Stock Is Rocketing Today
Shares of Targa Resources (NYSE: TRGP) surged 15% by 11:15 a.m. EDT on Thursday. Fueling the midstream company's rally was its solid first-quarter report.
Targa Resources delivered strong first-quarter results despite all the turbulence in the oil market during that period. Adjusted EBITDA soared 41% year over year to $428 million while distributable cash flow rocketed 61% to $302 million. Fueling that growth was higher volumes thanks in large part to recently completed expansion projects.
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Source Fool.com
