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Targa Resources Partners LP Message Board

  • jgee1982 jgee1982 Jun 9, 2011 9:26 AM Flag

    good news!!!

    Targa Resources (NYSE:NGLS) closed Tuesday's frenetic trading session at $33.48. In the past year, the stock has hit a 52-week low of $22.16 and 52-week high of $35.62. Targa Resources stock has been showing support around $32.69 and resistance in the $34.11 range. Technical indicators for the stock are Bearish and S&P gives NGLS a neutral 3 STARS (out of 5) hold rating. For a hedged play on this stock, look at the Sep '11 $33.00 covered call for a net debit in the $32.13 area. That is also the break-even stock price for this trade. This covered call has a duration of 101 days, provides 4.03% downside protection and an assigned return rate of 2.71% for an annualized return rate of 9.79% (for comparison purposes only). Targa Resources has a current annual dividend yield of 6.63%.

    this puppy is gonna fly now!!!

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