MPLX (MPLX) vs Targa Resources (TRGP)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Targa Resources (TRGP) has outperformed MPLX (MPLX) over the past year, gaining 70.6% versus a gain of 17.7%. Over five years, TRGP leads with a +409.7% price change compared with +85.6% for MPLX. Targa Resources is the larger company by market cap ($60.89 billion vs $57.84 billion), about 1.1 times the size.
On valuation, MPLX trades at a lower forward P/E (11.8x vs 23.6x for Targa Resources). MPLX offers the higher dividend yield (7.55% vs 1.58%).
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 | MPLX | TRGP |
|---|---|---|
| Share price | $57.05 | $283.96 |
| Market cap | $57.84B | $60.89B |
| 1-day change | -1.25% | -0.62% |
| YTD return | +8.24% | +53.91% |
| 1-year return | +17.66% | +70.61% |
| 5-year return | +85.64% | +409.71% |
| P/E ratio (TTM) | 12.43 | 27.30 |
| Forward P/E | 11.84 | 23.58 |
| EPS (TTM) | $4.59 | $10.40 |
| Dividend yield | 7.55% | 1.58% |
| Annual dividend | $4.31 | $4.50 |
| Revenue (latest FY) | — | $17.03B |
| Revenue growth (YoY) | — | +3.95% |
| Net income (latest FY) | — | $1.92B |
| Gross margin | — | 38.29% |
| Operating margin | — | 19.56% |
| Net margin | — | 11.29% |
| 52-week high | $60.95 | $307.94 |
| 52-week low | $47.80 | $144.14 |
| Distance from 52-week high | -6.40% | -7.79% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +10.17% | +14.62% |
| Average volume | 1.41M | 1.19M |
| Shares outstanding | 1.01B | 214.43M |
| Employees | — | 3,570 |
| Sector | Energy | Energy |
| Industry | Oil & Gas Midstream | Oil & Gas Midstream |
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 MPLX by 53.0 percentage points over the past year.
- Targa Resources trades at a higher earnings multiple (27.3x vs 12.4x trailing P/E).
- MPLX offers a meaningfully higher dividend yield (7.55% vs 1.58%).
About MPLX
MPLX stock →MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Crude Oil and Products Logistics; and Natural Gas and NGL Services.
Energy · Oil & Gas Midstream
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.
Energy · Oil & Gas Midstream · 3,570 employees
MPLX vs TRGP FAQ
Which is bigger, MPLX or Targa Resources?
Targa Resources (TRGP) is larger, with a market capitalization of $60.89B compared with $57.84B for MPLX (MPLX).
Which stock has performed better over the past year, MPLX or TRGP?
TRGP returned +70.61% over the past 12 months, compared with +17.66% for MPLX (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, MPLX or TRGP?
MPLX has the lower trailing P/E at 12.4, versus 27.3 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, MPLX or Targa Resources?
MPLX has the higher yield at 7.55%, compared with 1.58% for Targa Resources.
Are MPLX and Targa Resources in the same industry?
Yes. Both are classified in the Oil & Gas Midstream industry within the Energy sector.