Targa Resources Partners LP Investment Losses – updated 3/11/20
Have you suffered losses investing in Targa Resources Partners? If so, the securities attorneys of The White Law Group may be able to help you recover your losses in a FINRA arbitration claim against the brokerage firm that recommended the investment.
Targa Resources Partners is a master limited partnership offered by Targa Resources Corp. The company is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States with a presence in crude oil gathering and petroleum terminaling.
Unfortunately for investors, most oil and gas MLPs are down substantially in the last year. According to Yahoo Finance, in the past 12 months, the share price of Targa Resources Partners LP has reportedly declined 28%.
Master Limited Partnerships (MLPs) are a type of limited partnership that is publicly traded. MLP’s receive the same tax benefits of a limited partnership combined with the liquidity of a publically traded security. In order to be classified as an MLP the partnership must receive 90% of its cash flow from a “qualifying source” – such as real estate, natural resources or commodities.
MLPs have increasingly been used to invest in the energy sector and are often sold to investors seeking income. However, MLP’s are extremely complex and risky, making them only suitable for wealthy, sophisticated retail investors or institutional investors. They are also a dream product for Wall Street because of the fees they generate, which may cause unscrupulous financial advisors looking to maximize their own commissions to recommend them improperly.
It is for this reason that The White Law Group is investigating the liability that brokerage firms may have for recommending high risk MLPs, like Targa Resources Partners, to their clients.
Brokerage firms that sell such products are required to perform adequate due diligence on the investments to ensure a reasonable likelihood of success, and to evaluate whether the investments are suitable in light of the client’s age, net worth, investment experience, and investment objectives. Firms that fail to perform adequate due diligence, or that make unsuitable recommendations, can be held responsible for losses in a FINRA arbitration claim.
Free Consultation with a Securities Attorney
If you suffered losses investing Targa Resources Partners or another MLP and would like a free consultation with a securities attorney, please call The White Law Group at (888)637-5510.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.