Oil & Gas Midstream
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5 / 10Stock Comparison
WMB vs TRGP vs KMI vs ET vs EPD
Revenue, margins, valuation, and 5-year total return — side by side.
Oil & Gas Midstream
Oil & Gas Midstream
Oil & Gas Midstream
Oil & Gas Midstream
WMB vs TRGP vs KMI vs ET vs EPD — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | |||||
|---|---|---|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $89.22B | $54.26B | $70.10B | $68.53B | $81.56B |
| Revenue (TTM) | $11.92B | $16.38B | $17.52B | $89.38B | $52.60B |
| Net Income (TTM) | $2.84B | $2.13B | $3.31B | $5.55B | $5.80B |
| Gross Margin | 62.8% | 22.1% | 46.9% | 22.9% | 13.6% |
| Operating Margin | 38.8% | 21.1% | 28.6% | 11.1% | 13.5% |
| Forward P/E | 31.2x | 24.9x | 22.3x | 12.3x | 13.1x |
| Total Debt | $29.36B | $17.55B | $32.39B | $71.61B | $34.93B |
| Cash & Equiv. | $63M | $166M | $109M | $1.27B | $1.25B |
WMB vs TRGP vs KMI vs ET vs EPD — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| The Williams Compan… (WMB) | 100 | 357.1 | +257.1% |
| Targa Resources Cor… (TRGP) | 100 | 1411.1 | +1311.1% |
| Kinder Morgan, Inc. (KMI) | 100 | 199.4 | +99.4% |
| Energy Transfer LP (ET) | 100 | 244.1 | +144.1% |
| Enterprise Products… (EPD) | 100 | 197.5 | +97.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: WMB vs TRGP vs KMI vs ET vs EPD
Each card shows where this stock fits in a portfolio — not just who wins on paper.
WMB has the current edge in this matchup, primarily because of its strength in growth exposure.
- Rev growth 13.8%, EPS growth 17.6%, 3Y rev CAGR 2.9%
- 13.8% revenue growth vs EPD's -6.4%
- 23.8% margin vs ET's 6.2%
TRGP is the #2 pick in this set and the best alternative if long-term compounding is your priority.
- 6.2% 10Y total return vs WMB's 371.1%
- +61.6% vs KMI's +18.3%
- 8.5% ROA vs ET's 4.1%, ROIC 13.2% vs 6.3%
KMI is the clearest fit if your priority is valuation efficiency.
- PEG 0.23 vs EPD's 1.42
ET ranks third and is worth considering specifically for value and dividends.
- Lower P/E (12.3x vs 13.1x)
- 6.5% yield, vs EPD's 5.7%
EPD is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 15 yrs, beta 0.06, yield 5.7%
- Lower volatility, beta 0.06, current ratio 1.04x
- Beta 0.06, yield 5.7%, current ratio 1.04x
- Beta 0.06 vs TRGP's 0.29, lower leverage
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 13.8% revenue growth vs EPD's -6.4% | |
| Value | Lower P/E (12.3x vs 13.1x) | |
| Quality / Margins | 23.8% margin vs ET's 6.2% | |
| Stability / Safety | Beta 0.06 vs TRGP's 0.29, lower leverage | |
| Dividends | 6.5% yield, vs EPD's 5.7% | |
| Momentum (1Y) | +61.6% vs KMI's +18.3% | |
| Efficiency (ROA) | 8.5% ROA vs ET's 4.1%, ROIC 13.2% vs 6.3% |
WMB vs TRGP vs KMI vs ET vs EPD — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
WMB vs TRGP vs KMI vs ET vs EPD — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
TRGP leads in 2 of 6 categories
WMB leads 1 • ET leads 1 • KMI leads 0 • EPD leads 0 • 2 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
WMB leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
ET is the larger business by revenue, generating $89.4B annually — 7.5x WMB's $11.9B. WMB is the more profitable business, keeping 23.8% of every revenue dollar as net income compared to ET's 6.2%. On growth, ET holds the edge at +32.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | |||||
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $11.9B | $16.4B | $17.5B | $89.4B | $52.6B |
| EBITDAEarnings before interest/tax | $6.8B | $5.0B | $7.5B | $15.5B | $9.7B |
| Net IncomeAfter-tax profit | $2.8B | $2.1B | $3.3B | $5.6B | $5.8B |
| Free Cash FlowCash after capex | $722M | $1.2B | $3.9B | $5.5B | $3.0B |
| Gross MarginGross profit ÷ Revenue | +62.8% | +22.1% | +46.9% | +22.9% | +13.6% |
| Operating MarginEBIT ÷ Revenue | +38.8% | +21.1% | +28.6% | +11.1% | +13.5% |
| Net MarginNet income ÷ Revenue | +23.8% | +13.0% | +18.9% | +6.2% | +11.0% |
| FCF MarginFCF ÷ Revenue | +6.1% | +7.1% | +22.2% | +6.2% | +5.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | -0.6% | -15.6% | +13.5% | +32.1% | -2.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +24.6% | -100.0% | +37.5% | -2.8% | +2.7% |
Valuation Metrics
ET leads this category, winning 5 of 7 comparable metrics.
Valuation Metrics
At 14.2x trailing earnings, EPD trades at a 58% valuation discount to WMB's 34.1x P/E. Adjusting for growth (PEG ratio), KMI offers better value at 0.24x vs EPD's 1.54x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | |||||
|---|---|---|---|---|---|
| Market CapShares × price | $89.2B | $54.3B | $70.1B | $68.5B | $81.6B |
| Enterprise ValueMkt cap + debt − cash | $118.5B | $71.6B | $102.4B | $138.9B | $115.2B |
| Trailing P/EPrice ÷ TTM EPS | 34.09x | 29.63x | 23.00x | 14.76x | 14.18x |
| Forward P/EPrice ÷ next-FY EPS est. | 31.23x | 24.88x | 22.29x | 12.33x | 13.14x |
| PEG RatioP/E ÷ EPS growth rate | 0.52x | — | 0.24x | — | 1.54x |
| EV / EBITDAEnterprise value multiple | 17.56x | 14.44x | 14.09x | 9.41x | 12.10x |
| Price / SalesMarket cap ÷ Revenue | 7.47x | 3.17x | 4.14x | 0.83x | 1.55x |
| Price / BookPrice ÷ Book value/share | 5.94x | 16.97x | 2.16x | 1.48x | 2.70x |
| Price / FCFMarket cap ÷ FCF | 88.77x | 92.90x | 21.76x | 17.82x | 27.51x |
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 ET's 5/9, reflecting strong financial health.
| Metric | |||||
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +19.0% | +70.8% | +10.3% | +11.6% | +19.3% |
| ROA (TTM)Return on assets | +4.9% | +8.5% | +4.5% | +4.1% | +7.5% |
| ROICReturn on invested capital | +7.7% | +13.2% | +5.6% | +6.3% | +8.3% |
| ROCEReturn on capital employed | +8.7% | +16.7% | +7.0% | +7.9% | +10.9% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 6 | 8 | 5 | 6 |
| Debt / EquityFinancial leverage | 1.96x | 5.49x | 1.00x | 1.45x | 1.14x |
| Net DebtTotal debt minus cash | $29.3B | $17.4B | $32.3B | $70.3B | $33.7B |
| Cash & Equiv.Liquid assets | $63M | $166M | $109M | $1.3B | $1.2B |
| Total DebtShort + long-term debt | $29.4B | $17.5B | $32.4B | $71.6B | $34.9B |
| Interest CoverageEBIT ÷ Interest expense | 3.37x | 6.52x | 2.86x | 2.64x | 5.21x |
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 $20,572 for EPD. 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 EPD's 20.2% — a key indicator of consistent wealth creation.
| Metric | |||||
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +20.7% | +36.4% | +15.9% | +22.1% | +20.7% |
| 1-Year ReturnPast 12 months | +27.2% | +61.6% | +18.3% | +25.8% | +31.7% |
| 3-Year ReturnCumulative with dividends | +166.3% | +268.0% | +107.0% | +90.3% | +73.8% |
| 5-Year ReturnCumulative with dividends | +224.5% | +592.2% | +108.4% | +158.2% | +105.7% |
| 10-Year ReturnCumulative with dividends | +371.1% | +618.0% | +142.1% | +142.6% | +119.8% |
| CAGR (3Y)Annualised 3-year return | +38.6% | +54.4% | +27.4% | +23.9% | +20.2% |
Risk & Volatility
Evenly matched — ET and EPD each lead in 1 of 2 comparable metrics.
Risk & Volatility
EPD is the less volatile stock with a 0.06 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. ET 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 | |||||
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.17x | 0.29x | 0.10x | 0.19x | 0.06x |
| 52-Week HighHighest price in past year | $77.41 | $261.95 | $34.73 | $20.66 | $39.73 |
| 52-Week LowLowest price in past year | $55.82 | $144.14 | $25.60 | $16.18 | $29.90 |
| % of 52W HighCurrent price vs 52-week peak | +94.2% | +96.4% | +90.7% | +96.4% | +95.0% |
| RSI (14)Momentum oscillator 0–100 | 52.8 | 54.1 | 42.5 | 59.5 | 47.0 |
| Avg Volume (50D)Average daily shares traded | 5.8M | 1.3M | 12.4M | 14.8M | 4.1M |
Analyst Outlook
Evenly matched — ET and EPD each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: WMB as "Buy", TRGP as "Buy", KMI as "Hold", ET as "Buy", EPD as "Buy". Consensus price targets imply 11.1% upside for KMI (target: $35) vs -5.8% for TRGP (target: $238). For income investors, ET offers the higher dividend yield at 6.50% vs TRGP's 1.51%.
| Metric | |||||
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Hold | Buy | Buy |
| Price TargetConsensus 12-month target | $79.00 | $237.70 | $35.00 | $19.00 | $37.00 |
| # AnalystsCovering analysts | 34 | 33 | 34 | 32 | 45 |
| Dividend YieldAnnual dividend ÷ price | +2.7% | +1.5% | +3.7% | +6.5% | +5.7% |
| Dividend StreakConsecutive years of raises | 8 | 4 | 9 | 0 | 15 |
| Dividend / ShareAnnual DPS | $2.00 | $3.81 | $1.17 | $1.29 | $2.14 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.2% | 0.0% | 0.0% | +0.4% |
TRGP leads in 2 of 6 categories (Profitability & Efficiency, Total Returns). WMB leads in 1 (Income & Cash Flow). 2 tied.
WMB vs TRGP vs KMI vs ET vs EPD: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is WMB or TRGP or KMI or ET or EPD a better buy right now?
For growth investors, The Williams Companies, Inc.
(WMB) is the stronger pick with 13. 8% revenue growth year-over-year, versus -6. 4% for Enterprise Products Partners L. P. (EPD). Enterprise Products Partners L. P. (EPD) offers the better valuation at 14. 2x trailing P/E (13. 1x forward), making it the more compelling value choice. Analysts rate The Williams Companies, Inc. (WMB) a "Buy" — based on 34 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 — WMB or TRGP or KMI or ET or EPD?
On trailing P/E, Enterprise Products Partners L.
P. (EPD) is the cheapest at 14. 2x versus The Williams Companies, Inc. at 34. 1x. On forward P/E, Energy Transfer LP is actually cheaper at 12. 3x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Kinder Morgan, Inc. wins at 0. 23x versus Enterprise Products Partners L. P. 's 1. 42x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — WMB or TRGP or KMI or ET or EPD?
Over the past 5 years, Targa Resources Corp.
(TRGP) delivered a total return of +592. 2%, compared to +105. 7% for Enterprise Products Partners L. P. (EPD). Over 10 years, the gap is even starker: TRGP returned +618. 0% versus EPD's +119. 8%. 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 — WMB or TRGP or KMI or ET or EPD?
By beta (market sensitivity over 5 years), Enterprise Products Partners L.
P. (EPD) is the lower-risk stock at 0. 06β versus Targa Resources Corp. 's 0. 29β — meaning TRGP is approximately 366% more volatile than EPD 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 — WMB or TRGP or KMI or ET or EPD?
By revenue growth (latest reported year), The Williams Companies, Inc.
(WMB) is pulling ahead at 13. 8% versus -6. 4% for Enterprise Products Partners L. P. (EPD). On earnings-per-share growth, the picture is similar: Targa Resources Corp. grew EPS 48. 4% year-over-year, compared to -1. 1% for Enterprise Products Partners L. P.. Over a 3-year CAGR, WMB leads at 2. 9% 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 — WMB or TRGP or KMI or ET or EPD?
The Williams Companies, Inc.
(WMB) is the more profitable company, earning 21. 9% net margin versus 5. 9% for Energy Transfer LP — meaning it keeps 21. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: WMB leads at 36. 8% versus 11. 4% for ET. 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 WMB or TRGP or KMI or ET or EPD more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Kinder Morgan, Inc. (KMI) is the more undervalued stock at a PEG of 0. 23x versus Enterprise Products Partners L. P. 's 1. 42x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Energy Transfer LP (ET) trades at 12. 3x forward P/E versus 31. 2x for The Williams Companies, Inc. — 18. 9x 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 — WMB or TRGP or KMI or ET or EPD?
All stocks in this comparison pay dividends.
Energy Transfer LP (ET) offers the highest yield at 6. 5%, versus 1. 5% for Targa Resources Corp. (TRGP).
09Is WMB or TRGP or KMI or ET or EPD 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%, ET: +142. 6%), 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 WMB and TRGP and KMI and ET and EPD?
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: WMB is a mid-cap quality compounder stock; TRGP is a mid-cap quality compounder stock; KMI is a mid-cap income-oriented stock; ET is a mid-cap deep-value stock; EPD 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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