Energy Transfer LP (ET) vs Targa Resources Corp. (TRGP)
ET leads on 9 of 17 compared metrics.
A side-by-side comparison of Energy Transfer LP and Targa Resources Corp. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 24, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).
Total return — ET vs TRGP
growth of $100 · last 16yET +96.1%TRGP +987.9%TRGP compounded faster
Log scale — wide-divergence pair
ET TRGP
ET vs TRGP: by the numbers
- •ET is the larger company ($66.14B vs $56.59B market cap).
- •ET trades at the lower earnings multiple (14.34 vs 27.36 P/E).
- •TRGP converts more revenue to profit (12.98% vs 5.41% net margin).
- •ET grew revenue faster over the past five years (15.06% vs 10.04% CAGR).
- •ET pays the higher dividend yield (6.95% vs 1.58%).
Which is better, ET or TRGP?
Metric tally: ET 9 · TRGP 8It depends on what you're optimizing for:
ValueET(lower P/E)
GrowthET(faster 5Y revenue CAGR)
IncomeET(higher dividend yield)
QualityTRGP(higher ROIC)
Metrics side by side
Valuation
| Metric | ET | TRGP |
|---|---|---|
| P/E ratio | 14.34● | 27.36 |
| Forward P/E | 12.09● | 21.87 |
| P/S ratio | 0.74● | 3.53 |
| P/B ratio | 1.93● | 18.42 |
| PEG ratio | 2.23 | 0.45● |
| EV / EBITDA | 9.30● | 15.44 |
| FCF yield | 5.50%● | 0.45% |
Profitability
| Metric | ET | TRGP |
|---|---|---|
| Gross margin | 22.91% | 29.88%● |
| Operating margin | 11.11% | 21.11%● |
| Net margin | 5.41% | 12.98%● |
| ROE | 14.02% | 67.76%● |
| ROIC | 7.17% | 12.07%● |
Dividends
| Metric | ET | TRGP |
|---|---|---|
| Dividend yield | 6.95%● | 1.58% |
| Payout ratio | 98.16% | 49.77% |
Growth (annualized)
| Metric | ET | TRGP |
|---|---|---|
| Revenue CAGR (5Y) | 15.06%● | 10.04% |
| EPS CAGR (5Y) | 0.25% | 22.85%● |
| FCF CAGR (5Y) | -11.11%● | -27.03% |
| Total return CAGR (5Y) | 21.42% | 44.99%● |
Frequently asked
- Which is better, ET or TRGP?
- It depends on your goal. value: ET (lower P/E); growth: ET (faster 5Y revenue CAGR); income: ET (higher dividend yield); quality: TRGP (higher ROIC). Across all compared metrics, ET leads 9 to 8.
- Is ET or TRGP cheaper?
- On trailing earnings, ET is cheaper: ET trades at a 14.34 P/E and TRGP at 27.36.
- Which has grown faster, ET or TRGP?
- Over the past five years, ET grew revenue faster — ET at a 15.06% CAGR versus TRGP at 10.04%.
- Does ET or TRGP pay a bigger dividend?
- ET yields 6.95% and TRGP yields 1.58% based on trailing dividends and the latest price.
- Is ET or TRGP more profitable?
- TRGP runs the higher net margin — ET at 5.41% versus TRGP at 12.98%.
- Which has been the better investment, ET or TRGP?
- Over the past 10-year, TRGP delivered the higher annualized total return — ET at 11.87% versus TRGP at 25.77%. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Energy Transfer LP P/E ratioTarga Resources P/E ratioEnergy Transfer LP dividend yieldTarga Resources dividend yieldEnergy Transfer LP ROETarga Resources ROEEnergy Transfer LP operating marginTarga Resources operating marginEnergy Transfer LP revenue growthTarga Resources revenue growthEnergy Transfer LP free cash flowTarga Resources free cash flow
Energy Transfer LP & Targa Resources appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 24, 2026.