Which has the lower trailing P/E, MPLX or TRGP?

MPLX has the lower trailing P/E: MPLX trades at 12.56 and TRGP at 28.49. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, MPLX or TRGP?

Over the past five years, MPLX grew revenue faster — MPLX at a 7.97% CAGR versus TRGP at 6.56%.

Does MPLX or TRGP pay a bigger dividend?

MPLX yields 7.37% and TRGP yields 1.50% based on trailing dividends and the latest price.

Is MPLX or TRGP more profitable?

MPLX runs the higher net margin — MPLX at 36.75% versus TRGP at 13.49%.

How have MPLX and TRGP total returns compared?

Over the past 10 years, MPLX delivered 15.60% and TRGP delivered 26.26% annualized total return. Past performance doesn't predict future results.

MPLX Lp (MPLX) vs Targa Resources Corp. (TRGP)

A side-by-side comparison of MPLX Lp and Targa Resources Corp. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of August 21, 2026. Differences are shown without an overall score or investment verdict.

MPLX

MPLX Lp

$59.27B

$58.41EnergyDelayed quote: Aug 21, 2026, 4:00 PM EDT

TRGP

Targa Resources Corp.

$64.20B

$299.10EnergyDelayed quote: Aug 21, 2026, 4:00 PM EDT

Total return — MPLX vs TRGP

growth of $100 · dividends reinvested · last 10y

MPLX +333.5% (+15.8%/yr)TRGP +956.2% (+26.6%/yr)TRGP compounded faster over this window

MPLX TRGP

MPLX vs TRGP: by the numbers

•TRGP is the larger company ($64.20B vs $59.27B market cap).
•MPLX trades at the lower trailing earnings multiple (12.56 vs 28.49 P/E), one valuation lens rather than an overall verdict.
•MPLX converts more revenue to profit (36.75% vs 13.49% net margin).
•MPLX grew revenue faster over the past five years (7.97% vs 6.56% CAGR).
•MPLX pays the higher dividend yield (7.37% vs 1.50%).

Metrics side by side

Valuation

Metric	MPLX	TRGP
P/E ratio	12.56	28.49
Forward P/E	13.57	26.59
P/S ratio	4.60	3.83
P/B ratio	4.23	17.59
EV / EBITDA	12.10	15.23
FCF yield	7.47%	1.15%

Profitability

Metric	MPLX	TRGP
Gross margin	52.17%	26.51%
Operating margin	42.91%	23.13%
Net margin	36.75%	13.49%
ROE	33.77%	61.94%
ROIC	13.47%	14.09%

Dividends

Metric	MPLX	TRGP
Dividend yield	7.37%	1.50%
Payout ratio	89.34%	52.69%

Growth (annualized)

Metric	MPLX	TRGP
Revenue CAGR (5Y)	7.97%	6.56%
EPS CAGR (5Y)	29.32%	N/A
FCF CAGR (5Y)	1.14%	-16.03%
Total return CAGR (5Y)	26.69%	51.31%

Frequently asked

Which has the lower trailing P/E, MPLX or TRGP?: MPLX has the lower trailing P/E: MPLX trades at 12.56 and TRGP at 28.49. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, MPLX or TRGP?: Over the past five years, MPLX grew revenue faster — MPLX at a 7.97% CAGR versus TRGP at 6.56%.
Does MPLX or TRGP pay a bigger dividend?: MPLX yields 7.37% and TRGP yields 1.50% based on trailing dividends and the latest price.
Is MPLX or TRGP more profitable?: MPLX runs the higher net margin — MPLX at 36.75% versus TRGP at 13.49%.
How have MPLX and TRGP total returns compared?: Over the past 10 years, MPLX delivered 15.60% and TRGP delivered 26.26% annualized total return. Past performance doesn't predict future results.

Go deeper

Full MPLX analysis Full TRGP analysis Interactive comparison tool

Dig into the metrics

MPLX Lp P/E ratio Targa Resources P/E ratio MPLX Lp dividend yield Targa Resources dividend yield MPLX Lp ROE Targa Resources ROE MPLX Lp operating margin Targa Resources operating margin MPLX Lp revenue growth Targa Resources revenue growth MPLX Lp free cash flow Targa Resources free cash flow

MPLX Lp & Targa Resources appear in these rankings

Highest Dividend Yield Stocks Highest ROE Stocks Highest Operating Margin Stocks Highest FCF Yield Stocks

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 August 21, 2026.