DKL
Delek Logistics Partners, LP
Oil & Gas Midstream
Market Cap$2.71B
5Y Perf.+114.3%
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Stock Comparison
DKL vs TRGP vs MPLX vs WES
Revenue, margins, valuation, and 5-year total return — side by side.
TRGP
Targa Resources Corp.
Oil & Gas Midstream
Market Cap$54.26B
5Y Perf.+1311.1%
MPLX
MPLX Lp
Oil & Gas Midstream
Market Cap$57.12B
5Y Perf.+196.3%
WES
Western Midstream Partners, LP
Oil & Gas Midstream
Market Cap$17.67B
5Y Perf.+363.6%
DKL vs TRGP vs MPLX vs WES — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | DKL | TRGP | MPLX | WES |
|---|---|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $2.71B | $54.26B | $57.12B | $17.67B |
| Revenue (TTM) | $1.06B | $16.38B | $12.54B | $4.05B |
| Net Income (TTM) | $170M | $2.13B | $4.71B | $1.21B |
| Gross Margin | 19.2% | 22.1% | 60.0% | 68.8% |
| Operating Margin | 16.5% | 21.1% | 44.9% | 40.6% |
| Forward P/E | 13.8x | 24.9x | 12.7x | 13.6x |
| Total Debt | $35M | $17.55B | $26.16B | $8.93B |
| Cash & Equiv. | $11M | $166M | $2.14B | $819M |
DKL vs TRGP vs MPLX vs WES — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
DKL
TRGP
MPLX
WES
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Delek Logistics Par… (DKL) | 100 | 214.3 | +114.3% |
| Targa Resources Cor… (TRGP) | 100 | 1411.1 | +1311.1% |
| MPLX Lp (MPLX) | 100 | 296.3 | +196.3% |
| Western Midstream P… (WES) | 100 | 463.6 | +363.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: DKL vs TRGP vs MPLX vs WES
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: MPLX leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Delek Logistics Partners, LP is the stronger pick specifically for dividend income and shareholder returns. TRGP also leads in specific categories worth noting. As sector peers, any of these can serve as alternatives in the same allocation.
DKL
Delek Logistics Partners, LP
The Income Pick
DKL is the #2 pick in this set and the best alternative if income & stability is your priority.
- Dividend streak 5 yrs, beta 0.35, yield 8.7%
- 8.7% yield, 5-year raise streak, vs TRGP's 1.5%
Best for: income & stability
TRGP
Targa Resources Corp.
The Long-Run Compounder
TRGP is the clearest fit if your priority is long-term compounding.
- 6.2% 10Y total return vs DKL's 207.3%
- +61.6% vs MPLX's +22.5%
Best for: long-term compounding
MPLX
MPLX Lp
The Growth Play
MPLX carries the broadest edge in this set and is the clearest fit for growth exposure and sleep-well-at-night.
- Rev growth 8.4%, EPS growth 14.5%, 3Y rev CAGR 3.9%
- Lower volatility, beta 0.18, current ratio 1.23x
- 8.4% revenue growth vs TRGP's 3.1%
- Lower P/E (12.7x vs 24.9x)
Best for: growth exposure and sleep-well-at-night
WES
Western Midstream Partners, LP
The Defensive Pick
WES is the clearest fit if your priority is defensive.
- Beta 0.28, yield 8.2%, current ratio 1.34x
Best for: defensive
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MPLX | 8.4% revenue growth vs TRGP's 3.1% |
| Value | MPLX | Lower P/E (12.7x vs 24.9x) |
| Quality / Margins | MPLX | 37.5% margin vs TRGP's 13.0% |
| Stability / Safety | MPLX | Beta 0.18 vs DKL's 0.35, lower leverage |
| Dividends | DKL | 8.7% yield, 5-year raise streak, vs TRGP's 1.5% |
| Momentum (1Y) | TRGP | +61.6% vs MPLX's +22.5% |
| Efficiency (ROA) | MPLX | 11.3% ROA vs DKL's 6.1%, ROIC 9.9% vs 14.1% |
DKL vs TRGP vs MPLX vs WES — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2023
FY 2025
FY 2025
FY 2025
DKL vs TRGP vs MPLX vs WES — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLDKLLAGGINGWES
Who Leads Where
DKL leads in 2 of 6 categories
MPLX leads 1 • TRGP leads 1 • WES leads 0 • 2 tied
Explore the data ↓WESWestern Midstream Par…
0leads
MPLXMPLX Lp
1leads
TRGPTarga Resources Corp.
1leads
DKLDelek Logistics Partn…
2leads
6 Total Categories
CATEGORYLEADERvs TRGPvs MPLXMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
MPLX3/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
DKL4/9
Total Returns1Y, 3Y, 5Y total returns with dividends
TRGP6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
DKL2/2
Income & Cash Flow (Last 12 Months)
Evenly matched — MPLX and WES each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
TRGP is the larger business by revenue, generating $16.4B annually — 15.4x DKL's $1.1B. MPLX is the more profitable business, keeping 37.5% of every revenue dollar as net income compared to TRGP's 13.0%. On growth, WES holds the edge at +22.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DKLDelek Logistics P… | TRGPTarga Resources C… | MPLXMPLX Lp | WESWestern Midstream… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $1.1B | $16.4B | $12.5B | $4.0B |
| EBITDAEarnings before interest/tax | $310M | $5.0B | $7.0B | $2.4B |
| Net IncomeAfter-tax profit | $170M | $2.1B | $4.7B | $1.2B |
| Free Cash FlowCash after capex | $112M | $1.2B | $5.0B | $1.4B |
| Gross MarginGross profit ÷ Revenue | +19.2% | +22.1% | +60.0% | +68.8% |
| Operating MarginEBIT ÷ Revenue | +16.5% | +21.1% | +44.9% | +40.6% |
| Net MarginNet income ÷ Revenue | +16.0% | +13.0% | +37.5% | +29.9% |
| FCF MarginFCF ÷ Revenue | +10.6% | +7.1% | +39.8% | +33.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +19.0% | -15.6% | +5.2% | +22.5% |
| EPS Growth (YoY)Latest quarter vs prior year | -17.8% | -100.0% | -17.3% | +10.1% |
Evenly matched — MPLX and WES each lead in 3 of 6 comparable metrics.
Valuation Metrics
MPLX leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
At 11.7x trailing earnings, MPLX trades at a 61% valuation discount to TRGP's 29.6x P/E. On an enterprise value basis, DKL's 8.8x EV/EBITDA is more attractive than TRGP's 14.4x.
| Metric | DKLDelek Logistics P… | TRGPTarga Resources C… | MPLXMPLX Lp | WESWestern Midstream… |
|---|---|---|---|---|
| Market CapShares × price | $2.7B | $54.3B | $57.1B | $17.7B |
| Enterprise ValueMkt cap + debt − cash | $2.7B | $71.6B | $81.1B | $25.8B |
| Trailing P/EPrice ÷ TTM EPS | 15.46x | 29.63x | 11.67x | 14.43x |
| Forward P/EPrice ÷ next-FY EPS est. | 13.82x | 24.88x | 12.71x | 13.57x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | 0.70x |
| EV / EBITDAEnterprise value multiple | 8.81x | 14.44x | 13.27x | 11.22x |
| Price / SalesMarket cap ÷ Revenue | 2.68x | 3.17x | 4.83x | 4.60x |
| Price / BookPrice ÷ Book value/share | 446.88x | 16.97x | 3.95x | 4.19x |
| Price / FCFMarket cap ÷ FCF | — | 92.90x | 13.93x | 12.06x |
MPLX leads this category, winning 3 of 6 comparable metrics.
Profitability & Efficiency
DKL leads this category, winning 4 of 9 comparable metrics.
Profitability & Efficiency
DKL delivers a 19.2% return on equity — every $100 of shareholder capital generates $19 in annual profit, vs $33 for MPLX. MPLX carries lower financial leverage with a 1.80x debt-to-equity ratio, signaling a more conservative balance sheet compared to DKL's 5.75x. On the Piotroski fundamental quality scale (0–9), TRGP scores 6/9 vs DKL's 4/9, reflecting solid financial health.
| Metric | DKLDelek Logistics P… | TRGPTarga Resources C… | MPLXMPLX Lp | WESWestern Midstream… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | +19.2% | +70.8% | +32.8% | +33.5% |
| ROA (TTM)Return on assets | +6.1% | +8.5% | +11.3% | +8.9% |
| ROICReturn on invested capital | +14.1% | +13.2% | +9.9% | +10.5% |
| ROCEReturn on capital employed | +8.3% | +16.7% | +12.9% | +12.6% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 | 6 | 5 |
| Debt / EquityFinancial leverage | 5.75x | 5.49x | 1.80x | 2.14x |
| Net DebtTotal debt minus cash | $24M | $17.4B | $24.0B | $8.1B |
| Cash & Equiv.Liquid assets | $11M | $166M | $2.1B | $819M |
| Total DebtShort + long-term debt | $35M | $17.5B | $26.2B | $8.9B |
| Interest CoverageEBIT ÷ Interest expense | 1.66x | 6.52x | 5.85x | 6.44x |
DKL leads this category, winning 4 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
TRGP leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in TRGP five years ago would be worth $69,223 today (with dividends reinvested), compared to $18,598 for DKL. Over the past 12 months, TRGP leads with a +61.6% total return vs MPLX's +22.5%. The 3-year compound annual growth rate (CAGR) favors TRGP at 54.4% vs DKL's 13.3% — a key indicator of consistent wealth creation.
| Metric | DKLDelek Logistics P… | TRGPTarga Resources C… | MPLXMPLX Lp | WESWestern Midstream… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | +13.4% | +36.4% | +6.4% | +13.6% |
| 1-Year ReturnPast 12 months | +45.1% | +61.6% | +22.5% | +30.6% |
| 3-Year ReturnCumulative with dividends | +45.6% | +268.0% | +95.7% | +107.8% |
| 5-Year ReturnCumulative with dividends | +86.0% | +592.2% | +157.2% | +170.5% |
| 10-Year ReturnCumulative with dividends | +207.3% | +618.0% | +184.4% | +72.1% |
| CAGR (3Y)Annualised 3-year return | +13.3% | +54.4% | +25.1% | +27.6% |
TRGP leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — MPLX and WES each lead in 1 of 2 comparable metrics.
Risk & Volatility
MPLX is the less volatile stock with a 0.18 beta — it tends to amplify market swings less than DKL's 0.35 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. WES currently trades 96.8% from its 52-week high vs DKL's 91.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | DKLDelek Logistics P… | TRGPTarga Resources C… | MPLXMPLX Lp | WESWestern Midstream… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.35x | 0.29x | 0.18x | 0.28x |
| 52-Week HighHighest price in past year | $55.89 | $261.95 | $59.98 | $44.74 |
| 52-Week LowLowest price in past year | $37.50 | $144.14 | $47.80 | $35.51 |
| % of 52W HighCurrent price vs 52-week peak | +91.3% | +96.4% | +93.8% | +96.8% |
| RSI (14)Momentum oscillator 0–100 | 50.0 | 54.1 | 46.5 | 47.7 |
| Avg Volume (50D)Average daily shares traded | 64K | 1.3M | 1.8M | 1.4M |
Evenly matched — MPLX and WES each lead in 1 of 2 comparable metrics.
Analyst Outlook
DKL leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: DKL as "Hold", TRGP as "Buy", MPLX as "Buy", WES as "Hold". Consensus price targets imply 9.8% upside for DKL (target: $56) vs -5.8% for TRGP (target: $238). For income investors, DKL offers the higher dividend yield at 8.72% vs TRGP's 1.51%.
| Metric | DKLDelek Logistics P… | TRGPTarga Resources C… | MPLXMPLX Lp | WESWestern Midstream… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | $56.00 | $237.70 | $60.25 | $41.00 |
| # AnalystsCovering analysts | 10 | 33 | 28 | 13 |
| Dividend YieldAnnual dividend ÷ price | +8.7% | +1.5% | +7.0% | +8.2% |
| Dividend StreakConsecutive years of raises | 5 | 4 | 3 | 4 |
| Dividend / ShareAnnual DPS | $4.45 | $3.81 | $3.94 | $3.56 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.4% | +1.2% | +0.7% | 0.0% |
DKL leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
DKL leads in 2 of 6 categories (Profitability & Efficiency, Analyst Outlook). MPLX leads in 1 (Valuation Metrics). 2 tied.
Best OverallDelek Logistics Partners, LP (DKL)Leads 2 of 6 categories
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DKL vs TRGP vs MPLX vs WES: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is DKL or TRGP or MPLX or WES a better buy right now?
For growth investors, MPLX Lp (MPLX) is the stronger pick with 8.
4% revenue growth year-over-year, versus 3. 1% for Targa Resources Corp. (TRGP). MPLX Lp (MPLX) offers the better valuation at 11. 7x trailing P/E (12. 7x forward), making it the more compelling value choice. Analysts rate Targa Resources Corp. (TRGP) a "Buy" — based on 33 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — DKL or TRGP or MPLX or WES?
On trailing P/E, MPLX Lp (MPLX) is the cheapest at 11.
7x versus Targa Resources Corp. at 29. 6x. On forward P/E, MPLX Lp is actually cheaper at 12. 7x.
03Which is the better long-term investment — DKL or TRGP or MPLX or WES?
Over the past 5 years, Targa Resources Corp.
(TRGP) delivered a total return of +592. 2%, compared to +86. 0% for Delek Logistics Partners, LP (DKL). Over 10 years, the gap is even starker: TRGP returned +618. 0% versus WES's +72. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — DKL or TRGP or MPLX or WES?
By beta (market sensitivity over 5 years), MPLX Lp (MPLX) is the lower-risk stock at 0.
18β versus Delek Logistics Partners, LP's 0. 35β — meaning DKL is approximately 92% more volatile than MPLX relative to the S&P 500. On balance sheet safety, MPLX Lp (MPLX) carries a lower debt/equity ratio of 180% versus 6% for Delek Logistics Partners, LP — giving it more financial flexibility in a downturn.
05Which is growing faster — DKL or TRGP or MPLX or WES?
By revenue growth (latest reported year), MPLX Lp (MPLX) is pulling ahead at 8.
4% versus 3. 1% for Targa Resources Corp. (TRGP). On earnings-per-share growth, the picture is similar: Targa Resources Corp. grew EPS 48. 4% year-over-year, compared to -25. 4% for Western Midstream Partners, LP. Over a 3-year CAGR, WES leads at 5. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — DKL or TRGP or MPLX or WES?
MPLX Lp (MPLX) is the more profitable company, earning 41.
6% net margin versus 10. 8% for Targa Resources Corp. — meaning it keeps 41. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: WES leads at 41. 3% versus 18. 0% for DKL. At the gross margin level — before operating expenses — WES leads at 68. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is DKL or TRGP or MPLX or WES more undervalued right now?
On forward earnings alone, MPLX Lp (MPLX) trades at 12.
7x forward P/E versus 24. 9x for Targa Resources Corp. — 12. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DKL: 9. 8% to $56. 00.
08Which pays a better dividend — DKL or TRGP or MPLX or WES?
All stocks in this comparison pay dividends.
Delek Logistics Partners, LP (DKL) offers the highest yield at 8. 7%, versus 1. 5% for Targa Resources Corp. (TRGP).
09Is DKL or TRGP or MPLX or WES better for a retirement portfolio?
For long-horizon retirement investors, Targa Resources Corp.
(TRGP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 29), 1. 5% yield, +618. 0% 10Y return). Both have compounded well over 10 years (TRGP: +618. 0%, WES: +72. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between DKL and TRGP and MPLX and WES?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: DKL is a small-cap deep-value stock; TRGP is a mid-cap quality compounder stock; MPLX is a mid-cap deep-value stock; WES is a mid-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(DKL: 19.0% · TRGP: -15.6%)Net Margin>
%
(DKL: 16.0% · TRGP: 13.0%)P/E Ratio<
x
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