On Tuesday, Shares of Masco Corp (NYSE:MAS), gained 0.14% to $29.39.
Masco Corporation, declared that Chief Financial Officer John Sznewajs will present at the Baird 2015 Industrial Conference on November 10 in Chicago at 9:00 a.m. ET.
Masco Corporation manufactures, distributes, and installs home improvement and building products worldwide. Its Cabinets and Related Products segment provides cabinetry for kitchen, bath, storage, home office, and home entertainment applications; and kitchen countertops, and integrated bathroom vanity and countertop solutions.
Shares of Targa Resources Partners LP (NYSE:NGLS), declined -0.62% to $30.30, during its last trading session.
Targa Resources Partners and Targa Resources Corp., stated third quarter results.
Targa Resources Partners Third Quarter 2015 Financial Results
Third quarter 2015 net income attributable to Targa Resources Partners was $48.5 million contrast to $128.3 million for the third quarter of 2014. Net income per diluted limited partner unit was $0.02 in the third quarter of 2015 contrast to $0.78 for the third quarter of 2014. The Partnership stated earnings before interest, income taxes, depreciation and amortization and other non-cash items (Adjusted EBITDA) of $305.8 million for the third quarter of 2015 contrast to $248.8 million for the third quarter of 2014. The Partnerships distributable cash flow for the third quarter of 2015 of $220.7 million corresponds to distribution coverage of about 1.1 times the $200.4 million in total distributions to be paid on November 13, 2015 (see the section of this release entitled Targa Resources Partners Non-GAAP Financial Measures for a negotiation of Adjusted EBITDA, gross margin, operating margin and distributable cash flow, and reconciliations of such measures to their most directly comparable financial measures calculated and presented in accordance with U.S. generally accepted accounting principles (GAAP)).
Targas third quarter results highlight the benefits of our diverse asset footprint, fee-based margin and our continued focus on cost savings and execution, said Joe Bob Perkins, Chief Executive Officer of the Partnership and of the Company. We continue to develop attractive projects, demonstrate access to capital markets and execute in a cost effective manner, positioning Targa to successfully navigate the challenging environment ahead.
On October 20, 2015, the Partnership declared a cash distribution for the third quarter 2015 of $0.8250 per common unit, or $3.30 per unit on an annualized basis, representing an unchanged distribution from the previous quarter and about 3% growth over the distribution for the third quarter 2014. The cash distribution will be paid on November 13, 2015 on all outstanding common units to holders of record as of the close of business on November 2, 2015. The total distribution paid will be $200.4 million, with $139.0 million to the Partnerships third-party limited partners and $61.4 million to TRC for its ownership of common units, incentive distribution rights (IDRs) and its 2% general partner interest in the Partnership.
Targa Resources Partners LP owns, operates, acquires, and develops midstream energy assets in the United States. The company’s Gathering and Processing division is involved in gathering, compressing, dehydrating, treating, conditioning, processing, and marketing natural gas; and gathering crude oil.
Finally, Shares of Anadarko Petroleum Corporation (NYSE:APC), ended its last trade with 5.15% gain, and closed at $70.85.
Anadarko Petroleum Corporation, declared a quarterly cash dividend on the companys common stock of 27 cents per share, payable Dec. 23, 2015, to stockholders of record at the close of business on Dec. 9, 2015.
The amount of future dividends for Anadarko common stock will depend on earnings, financial condition, capital requirements and other factors. The Board of Directors will determine dividends on a quarterly basis.
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing.
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