Targa Resources (NGLS) Now Covered by Robert W. Baird

Targa Resources Partners LP (NYSE:NGLS), which provides midstream natural gas and natural gas liquid services in the United States, had new coverage initiated on them by Robert W. Baird.

They were started of with a "Neutral" rating and a price target of $41.00.

Since trading at $6.39 a share in the latter part of 2008, the share price of the limited partnership has rocketed to trade at around $40.00 a share today.

It appears the stock still has room to grow, as its increasingly hefty dividend attests to.

Targa was trading at $39.85, dropping $0.16, or 0.40 percent, as of 11:09 AM EST.