NGL vs HESM vs TRGP vs DKL

For growth investors, Hess Midstream LP (HESM) is the stronger pick with 8.

7% revenue growth year-over-year, versus -16. 5% for NGL Energy Partners LP (NGL). Hess Midstream LP (HESM) offers the better valuation at 13. 5x trailing P/E (13. 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.

On trailing P/E, Hess Midstream LP (HESM) is the cheapest at 13.

5x versus Targa Resources Corp. at 29. 6x. On forward P/E, Hess Midstream LP is actually cheaper at 13. 3x.

Over the past 5 years, NGL Energy Partners LP (NGL) delivered a total return of +626.

6%, compared to +86. 0% for Delek Logistics Partners, LP (DKL). Over 10 years, the gap is even starker: TRGP returned +618. 0% versus NGL's +78. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Hess Midstream LP (HESM) is the lower-risk stock at 0.

27β versus NGL Energy Partners LP's 0. 67β — meaning NGL is approximately 150% more volatile than HESM relative to the S&P 500. On balance sheet safety, NGL Energy Partners LP (NGL) carries a lower debt/equity ratio of 4% versus 9% for Hess Midstream LP — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Hess Midstream LP (HESM) is pulling ahead at 8.

7% versus -16. 5% for NGL Energy Partners LP (NGL). On earnings-per-share growth, the picture is similar: NGL Energy Partners LP grew EPS 72. 0% year-over-year, compared to 10. 4% for Delek Logistics Partners, LP. Over a 3-year CAGR, HESM leads at 8. 4% 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.

Hess Midstream LP (HESM) is the more profitable company, earning 21.

8% net margin versus 1. 1% for NGL Energy Partners LP — meaning it keeps 21. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HESM leads at 62. 2% versus 9. 5% for NGL. At the gross margin level — before operating expenses — HESM leads at 63. 9%, 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.

On forward earnings alone, Hess Midstream LP (HESM) trades at 13.

3x forward P/E versus 47. 4x for NGL Energy Partners LP — 34. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DKL: 9. 8% to $56. 00.

All stocks in this comparison pay dividends.

NGL Energy Partners LP (NGL) offers the highest yield at 14. 3%, versus 1. 5% for Targa Resources Corp. (TRGP).

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%, NGL: +78. 8%), 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.

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: NGL is a small-cap income-oriented stock; HESM is a small-cap deep-value stock; TRGP is a mid-cap quality compounder stock; DKL is a small-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.