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Targa Resources acquires Baltimore storage facility

NEW YORK — Targa Resources Partners LP said Monday it has purchased two crude storage facilities for $127 million.

Targa Resources, a natural gas company based in Houston, said it acquired the Targa Sound Terminal on the Hylebos Waterway in the Port of Tacoma, Wash. and the Targa Baltimore Terminal on the Patapsco River in Baltimore.

The Tacoma facility has a capacity of 758,000 barrels, and the Baltimore facility can store 505,000 barrels.

Shares fell 56 cents, or 1.7 percent, to $32.32 in morning trading.