Targa Resources Corp (NYSE: TRGP)
Targa Resources Corp owns general and limited partner interests, including incentive distribution rights ("IDRs"), in Targa Resources Partners (NYSE: NGLS), a publicly traded Delaware limited partnership that is a leading provider of midstream natural gas and natural gas liquid services in the United States. Our IDRs entitle us to receive increasing percentages, up to 48%, of all cash distributed by the Partnership. Our interests in the Partnership consist of a 2% general partner interest, which we hold through our 100% ownership interest in the general partner of the Partnership (Targa Resources GP LLC); all of the outstanding IDRs; and common units of the Partnership.
Our primary business objective is to increase our dividends to our stockholders by assisting the Partnership in executing its business strategy. Our cash flows are generated from the cash distributions we receive from the Partnership.