KMI
Kinder Morgan, Inc.
Oil & Gas Midstream
Market Cap$70.10B
5Y Perf.+99.4%
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Stock Comparison
KMI vs TRGP
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%
KMI vs TRGP — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | KMI | TRGP |
|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $70.10B | $54.26B |
| Revenue (TTM) | $17.52B | $16.38B |
| Net Income (TTM) | $3.31B | $2.13B |
| Gross Margin | 46.9% | 22.1% |
| Operating Margin | 28.6% | 21.1% |
| Forward P/E | 22.3x | 24.9x |
| Total Debt | $32.39B | $17.55B |
| Cash & Equiv. | $109M | $166M |
KMI vs TRGP — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
KMI
TRGP
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Kinder Morgan, Inc. (KMI) | 100 | 199.4 | +99.4% |
| Targa Resources Cor… (TRGP) | 100 | 1411.1 | +1311.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: KMI vs TRGP
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: KMI leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Targa Resources Corp. is the stronger pick specifically for recent price momentum and sentiment and operational efficiency and capital deployment. As sector peers, any of these can serve as alternatives in the same allocation.
KMI
Kinder Morgan, Inc.
The Income Pick
KMI carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 9 yrs, beta 0.10, yield 3.7%
- Rev growth 12.5%, EPS growth 17.1%, 3Y rev CAGR -4.7%
- Lower volatility, beta 0.10, Low D/E 99.8%, current ratio 0.64x
Best for: income & stability and growth exposure
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 KMI's 142.1%
- +61.6% vs KMI's +18.3%
- 8.5% ROA vs KMI's 4.5%, ROIC 13.2% vs 5.6%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | KMI | 12.5% revenue growth vs TRGP's 3.1% |
| Value | KMI | Lower P/E (22.3x vs 24.9x) |
| Quality / Margins | KMI | 18.9% margin vs TRGP's 13.0% |
| Stability / Safety | KMI | Beta 0.10 vs TRGP's 0.29, lower leverage |
| Dividends | KMI | 3.7% yield, 9-year raise streak, vs TRGP's 1.5% |
| Momentum (1Y) | TRGP | +61.6% vs KMI's +18.3% |
| Efficiency (ROA) | TRGP | 8.5% ROA vs KMI's 4.5%, ROIC 13.2% vs 5.6% |
KMI vs TRGP — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
KMI vs TRGP — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLKMILAGGINGTRGP
TRGPTarga Resources Corp.
2leads
KMIKinder Morgan, Inc.
3leads
6 Total Categories
CATEGORYLEADERvs TRGPMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
KMI6/6
Valuation MetricsMultiples, price ratios, and targets
KMI5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
TRGP7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
TRGP6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
KMI2/2
Income & Cash Flow (Last 12 Months)
KMI leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
KMI and TRGP operate at a comparable scale, with $17.5B and $16.4B in trailing revenue. KMI is the more profitable business, keeping 18.9% of every revenue dollar as net income compared to TRGP's 13.0%. On growth, KMI holds the edge at +13.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | KMIKinder Morgan, In… | TRGPTarga Resources C… |
|---|---|---|
| RevenueTrailing 12 months | $17.5B | $16.4B |
| EBITDAEarnings before interest/tax | $7.5B | $5.0B |
| Net IncomeAfter-tax profit | $3.3B | $2.1B |
| Free Cash FlowCash after capex | $3.9B | $1.2B |
| Gross MarginGross profit ÷ Revenue | +46.9% | +22.1% |
| Operating MarginEBIT ÷ Revenue | +28.6% | +21.1% |
| Net MarginNet income ÷ Revenue | +18.9% | +13.0% |
| FCF MarginFCF ÷ Revenue | +22.2% | +7.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +13.5% | -15.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +37.5% | -100.0% |
KMI leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
KMI leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 23.0x trailing earnings, KMI trades at a 22% valuation discount to TRGP's 29.6x P/E. On an enterprise value basis, KMI's 14.1x EV/EBITDA is more attractive than TRGP's 14.4x.
| Metric | KMIKinder Morgan, In… | TRGPTarga Resources C… |
|---|---|---|
| Market CapShares × price | $70.1B | $54.3B |
| Enterprise ValueMkt cap + debt − cash | $102.4B | $71.6B |
| Trailing P/EPrice ÷ TTM EPS | 23.00x | 29.63x |
| Forward P/EPrice ÷ next-FY EPS est. | 22.29x | 24.88x |
| PEG RatioP/E ÷ EPS growth rate | 0.24x | — |
| EV / EBITDAEnterprise value multiple | 14.09x | 14.44x |
| Price / SalesMarket cap ÷ Revenue | 4.14x | 3.17x |
| Price / BookPrice ÷ Book value/share | 2.16x | 16.97x |
| Price / FCFMarket cap ÷ FCF | 21.76x | 92.90x |
KMI leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
TRGP leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
TRGP delivers a 70.8% return on equity — every $100 of shareholder capital generates $71 in annual profit, vs $10 for KMI. KMI carries lower financial leverage with a 1.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to TRGP's 5.49x. On the Piotroski fundamental quality scale (0–9), KMI scores 8/9 vs TRGP's 6/9, reflecting strong financial health.
| Metric | KMIKinder Morgan, In… | TRGPTarga Resources C… |
|---|---|---|
| ROE (TTM)Return on equity | +10.3% | +70.8% |
| ROA (TTM)Return on assets | +4.5% | +8.5% |
| ROICReturn on invested capital | +5.6% | +13.2% |
| ROCEReturn on capital employed | +7.0% | +16.7% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 6 |
| Debt / EquityFinancial leverage | 1.00x | 5.49x |
| Net DebtTotal debt minus cash | $32.3B | $17.4B |
| Cash & Equiv.Liquid assets | $109M | $166M |
| Total DebtShort + long-term debt | $32.4B | $17.5B |
| Interest CoverageEBIT ÷ Interest expense | 2.86x | 6.52x |
TRGP leads this category, winning 7 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 $20,841 for KMI. Over the past 12 months, TRGP leads with a +61.6% total return vs KMI's +18.3%. The 3-year compound annual growth rate (CAGR) favors TRGP at 54.4% vs KMI's 27.4% — a key indicator of consistent wealth creation.
| Metric | KMIKinder Morgan, In… | TRGPTarga Resources C… |
|---|---|---|
| YTD ReturnYear-to-date | +15.9% | +36.4% |
| 1-Year ReturnPast 12 months | +18.3% | +61.6% |
| 3-Year ReturnCumulative with dividends | +107.0% | +268.0% |
| 5-Year ReturnCumulative with dividends | +108.4% | +592.2% |
| 10-Year ReturnCumulative with dividends | +142.1% | +618.0% |
| CAGR (3Y)Annualised 3-year return | +27.4% | +54.4% |
TRGP leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — KMI and TRGP each lead in 1 of 2 comparable metrics.
Risk & Volatility
KMI is the less volatile stock with a 0.10 beta — it tends to amplify market swings less than TRGP's 0.29 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. TRGP currently trades 96.4% from its 52-week high vs KMI's 90.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | KMIKinder Morgan, In… | TRGPTarga Resources C… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.10x | 0.29x |
| 52-Week HighHighest price in past year | $34.73 | $261.95 |
| 52-Week LowLowest price in past year | $25.60 | $144.14 |
| % of 52W HighCurrent price vs 52-week peak | +90.7% | +96.4% |
| RSI (14)Momentum oscillator 0–100 | 42.5 | 54.1 |
| Avg Volume (50D)Average daily shares traded | 12.4M | 1.3M |
Evenly matched — KMI and TRGP each lead in 1 of 2 comparable metrics.
Analyst Outlook
KMI leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates KMI as "Hold" and TRGP as "Buy". Consensus price targets imply 11.1% upside for KMI (target: $35) vs -5.8% for TRGP (target: $238). For income investors, KMI offers the higher dividend yield at 3.71% vs TRGP's 1.51%.
| Metric | KMIKinder Morgan, In… | TRGPTarga Resources C… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $35.00 | $237.70 |
| # AnalystsCovering analysts | 34 | 33 |
| Dividend YieldAnnual dividend ÷ price | +3.7% | +1.5% |
| Dividend StreakConsecutive years of raises | 9 | 4 |
| Dividend / ShareAnnual DPS | $1.17 | $3.81 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.2% |
KMI leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
KMI leads in 3 of 6 categories (Income & Cash Flow, Valuation Metrics). TRGP leads in 2 (Profitability & Efficiency, Total Returns). 1 tied.
Best OverallKinder Morgan, Inc. (KMI)Leads 3 of 6 categories
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KMI vs TRGP: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is KMI or TRGP a better buy right now?
For growth investors, Kinder Morgan, Inc.
(KMI) is the stronger pick with 12. 5% revenue growth year-over-year, versus 3. 1% for Targa Resources Corp. (TRGP). Kinder Morgan, Inc. (KMI) offers the better valuation at 23. 0x trailing P/E (22. 3x 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 — KMI or TRGP?
On trailing P/E, Kinder Morgan, Inc.
(KMI) is the cheapest at 23. 0x versus Targa Resources Corp. at 29. 6x. On forward P/E, Kinder Morgan, Inc. is actually cheaper at 22. 3x.
03Which is the better long-term investment — KMI or TRGP?
Over the past 5 years, Targa Resources Corp.
(TRGP) delivered a total return of +592. 2%, compared to +108. 4% for Kinder Morgan, Inc. (KMI). Over 10 years, the gap is even starker: TRGP returned +618. 0% versus KMI's +142. 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 — KMI or TRGP?
By beta (market sensitivity over 5 years), Kinder Morgan, Inc.
(KMI) is the lower-risk stock at 0. 10β versus Targa Resources Corp. 's 0. 29β — meaning TRGP is approximately 210% more volatile than KMI relative to the S&P 500. On balance sheet safety, Kinder Morgan, Inc. (KMI) carries a lower debt/equity ratio of 100% versus 5% for Targa Resources Corp. — giving it more financial flexibility in a downturn.
05Which is growing faster — KMI or TRGP?
By revenue growth (latest reported year), Kinder Morgan, Inc.
(KMI) is pulling ahead at 12. 5% 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 17. 1% for Kinder Morgan, Inc.. Over a 3-year CAGR, KMI leads at -4. 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 — KMI or TRGP?
Kinder Morgan, Inc.
(KMI) is the more profitable company, earning 18. 0% net margin versus 10. 8% for Targa Resources Corp. — meaning it keeps 18. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: KMI leads at 28. 4% versus 20. 1% for TRGP. At the gross margin level — before operating expenses — KMI leads at 43. 7%, 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 KMI or TRGP more undervalued right now?
On forward earnings alone, Kinder Morgan, Inc.
(KMI) trades at 22. 3x forward P/E versus 24. 9x for Targa Resources Corp. — 2. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for KMI: 11. 1% to $35. 00.
08Which pays a better dividend — KMI or TRGP?
All stocks in this comparison pay dividends.
Kinder Morgan, Inc. (KMI) offers the highest yield at 3. 7%, versus 1. 5% for Targa Resources Corp. (TRGP).
09Is KMI or TRGP 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%, KMI: +142. 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 KMI and TRGP?
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: KMI is a mid-cap income-oriented stock; TRGP is a mid-cap quality compounder 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>
%
(KMI: 13.5% · TRGP: -15.6%)Net Margin>
%
(KMI: 18.9% · TRGP: 13.0%)P/E Ratio<
x
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