WASHINGTON (dpa-AFX) - Targa Resources Partners LP (NGLS) reported that its first-quarter net income allocable to limited partners increased to $56.0 million from $30.2 million in the year ago quarter. The income per limited partner unit was $0.63 in the first quarter of 2012 compared to $0.37 for the first quarter of 2011.
Net income attributable to Targa Resources Partners was $70.1 million compared to $37.8 million for the first quarter of 2011.
Revenues for the quarter rose to $1.646 billion from $1.615 billion in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share on revenues of $2.07 billion for the quarter. Analysts' estimates typically exclude special items.
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