Kinder Morgan (KMI) vs Targa Resources (TRGP)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 7, 2026.
Summary
Targa Resources (TRGP) has outperformed Kinder Morgan (KMI) over the past year, gaining 70.6% versus a gain of 13.6%. Over five years, TRGP leads with a +409.7% price change compared with +72.4% for KMI. Kinder Morgan is the larger company by market cap ($70.86 billion vs $60.89 billion), about 1.2 times the size.
On valuation, Kinder Morgan trades at a lower forward P/E (20.6x vs 23.6x for Targa Resources). Kinder Morgan offers the higher dividend yield (3.71% vs 1.58%). Kinder Morgan converts more of its revenue into profit, with a net margin of 18.0% versus 11.3%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | KMI | TRGP |
|---|---|---|
| Share price | $31.82 | $283.96 |
| Market cap | $70.86B | $60.89B |
| 1-day change | -1.06% | -0.62% |
| YTD return | +15.75% | +53.91% |
| 1-year return | +13.60% | +70.61% |
| 5-year return | +72.37% | +409.71% |
| P/E ratio (TTM) | 20.53 | 27.15 |
| Forward P/E | 20.60 | 23.58 |
| EPS (TTM) | $1.55 | $10.46 |
| Dividend yield | 3.71% | 1.58% |
| Annual dividend | $1.18 | $4.50 |
| Revenue (latest FY) | $16.94B | $17.03B |
| Revenue growth (YoY) | +12.17% | +3.95% |
| Net income (latest FY) | $3.06B | $1.92B |
| Gross margin | 67.36% | 38.29% |
| Operating margin | 27.89% | 19.56% |
| Net margin | 18.04% | 11.29% |
| 52-week high | $34.81 | $307.94 |
| 52-week low | $25.60 | $144.14 |
| Distance from 52-week high | -8.59% | -7.79% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +13.42% | +14.62% |
| Average volume | 11.16M | 1.19M |
| Shares outstanding | 2.23B | 214.43M |
| Employees | 11,028 | 3,570 |
| Sector | Utilities | Utilities |
| Industry | Natural Gas Distribution | Natural Gas Distribution |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- TRGP has outperformed KMI by 57.0 percentage points over the past year.
- Targa Resources trades at a higher earnings multiple (27.1x vs 20.5x trailing P/E).
- Kinder Morgan offers a meaningfully higher dividend yield (3.71% vs 1.58%).
- Kinder Morgan is more profitable, keeping 18.0 cents of every revenue dollar as net income versus 11.3 cents for Targa Resources.
- Kinder Morgan grew revenue faster in its latest fiscal year (+12.17% vs +3.95%).
About Kinder Morgan
KMI stock →Kinder Morgan, Inc. operates as an energy infrastructure company primarily in North America.
Utilities · Natural Gas Distribution · 11,028 employees
About Targa Resources
TRGP stock →Targa Resources Corp., together with its subsidiaries, owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America. It operates in two segments, Gathering and Processing, and Logistics and Transportation.
Utilities · Natural Gas Distribution · 3,570 employees
KMI vs TRGP FAQ
Which is bigger, Kinder Morgan or Targa Resources?
Kinder Morgan (KMI) is larger, with a market capitalization of $70.86B compared with $60.89B for Targa Resources (TRGP).
Which stock has performed better over the past year, KMI or TRGP?
TRGP returned +70.61% over the past 12 months, compared with +13.60% for KMI (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, KMI or TRGP?
KMI has the lower trailing P/E at 20.5, versus 27.1 for TRGP. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Kinder Morgan or Targa Resources?
Kinder Morgan has the higher yield at 3.71%, compared with 1.58% for Targa Resources.
Are Kinder Morgan and Targa Resources in the same industry?
Yes. Both are classified in the Natural Gas Distribution industry within the Utilities sector.