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Jan 3 (Reuters) - Targa Resources Corp (TRGP.N) said on Tuesday it will buy the remaining stake in its Grand Prix NGL Pipeline that it does not already own, for $1.05 billion in cash from Blackstone Inc's (BX.N) energy unit. Targa, which will purchase 25% stake from Blackstone Energy Partners, acquired 75% interest in the pipeline last year when it repurchased interests in its development company joint ventures from investment firm Stonepeak Partners LP for about $925 million. The Stonepeak deal also included 100% interest in its Train 6 fractionator in Mont Belvieu, Texas, and a 25% equity interest in the Gulf Coast Express Pipeline. Grand Prix has the capacity to transport up to 1 million barrels per day (bpd) of natural gas liquids (NGL) to the NGL market hub at Mont Belvieu. Targa said on Tuesday the price of the Blackstone Energy Partners deal, which is expected to close in the first quarter of 2023, represents about 8.75 times Grand Prix's estimated 2023 adjusted EBITDA multiple.
As the year winds down, investors are looking forward to 2023 and wondering where they should place their top bets. Analysts that cover companies are mulling the same question, prompting UBS to put together a list of its top conviction picks for 2023. The stock which is poised for the largest gain is Kymera Therapeutics , a biotechnology firm that UBS thinks could surge 240% to its target price. She added that UBS expects updates across all four programs in the near term as well as over 2023. Analysts that cover companies are mulling the same question, prompting UBS to put together a list of its top conviction picks for 2023.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonday, Dec. 5, 2022: Cramer says it's time to trim this energy holdingJim Cramer and Jeff Marks break down a new market report from Morgan Stanley on why it's time to get defensive with your portfolio. Jim shares why he is ready to sell some of his position in one energy holding. Jim also lists some companies he believes are ready to perform well in current market conditions, and what China's economic reopening strategy means for some names in the Charitable Trust.
Daily life has become a test of survival for many, with basic necessities such as water, food and medical provisions becoming scarce. Kherson residents collect water at a water point in the city that has had no electricity or water since the Russian retreat on November 16, 2022 in Kherson, Ukraine. Firefighters work to put out a fire at energy infrastructure facilities, damaged by Russian missile strike, as Russia's attack on Ukraine continues, in Kyiv region, Ukraine November 15, 2022. EvacuationsUkrainian officials in parts of the country most badly affected by power shortages are warning residents of a harsh winter ahead. Residents talk with train station staff while waiting to be evacuated from Kherson on Nov. 21, 2022 in Kherson, Ukraine.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTuesday, Nov. 8, 2022: Cramer says buy these stocks, but be cautiousJim Cramer and Jeff Marks break down why they are looking to history for a post-midterm election rally, regardless of political outcome. Jim says he's increasing his price target on one energy portfolio stock, and watching several others to potentially add to. Jim urges the Club to stay disciplined, and not to get too excited about companies on your buy list.
HOUSTON, Oct 20 (Reuters) - Exxon Mobil Corp (XOM.N) on Thursday agreed to sell its Billings, Montana, refinery and related pipeline properties to Par Pacific Holdings Inc (PARR.N) for $310 million. "This acquisition expands our fully integrated downstream network in the western United States," said Par Pacific Chief Executive Officer William Pate. Since 2013, Houston-based Par Pacific has purchased refineries in Hawaii, Wyoming and Tacoma, Washington. Par Pacific shares jumped 8.7% to $21.62 on Thursday, their highest level in two and a half years. Under the deal, Par Pacific will continue supplying fuel to Exxon and Mobil-branded stations in the region.
HOUSTON, Oct 20 (Reuters) - Exxon Mobil Corp (XOM.N) on Thursday agreed to sell its Billings, Montana, refinery and related pipeline properties to Par Pacific Holdings Inc (PARR.N) for $310 million. Register now for FREE unlimited access to Reuters.com RegisterThe deal for the 63,000-barrel-per-day refinery is expected to close in the second quarter of 2023, Exxon said in a statement. Included in the sale are the Silvertip Pipeline, Exxon's interest in the Yellowstone Pipeline and Yellowstone Energy LP and its interests in products terminals in Montana and Washington. Under the deal, Par Pacific will continue supplying fuel to Exxon and Mobil-branded stations in the region. Register now for FREE unlimited access to Reuters.com RegisterReporting by Erwin Seba; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.
The couple is now paying $472 a month on the budget plan, up from around $290 a month last winter. Jason Bell may have to take on a second part-time job, on top of his full-time position, to afford his heating bills this winter. Those who heat with natural gas are facing the largest spike, with their cost for the winter heating season expected to soar 34.3% to $952, the association said. The tab for heating oil is expected to jump 12.8% to $2,115. Oil prices, which spiked last winter after Russia invaded Ukraine in February, are declining but are still higher than they were last year.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonday, August 29, 2022: How Cramer is taking advantage of an ‘unbelievable opportunity’Jim Cramer and Jeff Marks list the stocks they are buying more of after the market fell Friday and stumbled to start the week. They also explain why they think it is time to sell some shares of one energy name in their portfolio.
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