ONEOK (OKE) 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 ONEOK (OKE) over the past year, gaining 69.9% versus a gain of 21.3%. Over five years, TRGP leads with a +409.7% price change compared with +35.2% for OKE. Targa Resources is the larger company by market cap ($60.89 billion vs $55.51 billion), about 1.1 times the size, while ONEOK is growing revenue faster (+55.0% vs +3.9%).
On valuation, ONEOK trades at a lower forward P/E (14.1x vs 23.6x for Targa Resources). ONEOK offers the higher dividend yield (4.82% vs 1.58%). Targa Resources converts more of its revenue into profit, with a net margin of 11.3% versus 10.1%.
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 | OKE | TRGP |
|---|---|---|
| Share price | $88.05 | $283.96 |
| Market cap | $55.51B | $60.89B |
| 1-day change | -1.32% | -0.62% |
| YTD return | +19.58% | +53.27% |
| 1-year return | +21.31% | +69.90% |
| 5-year return | +35.21% | +409.71% |
| P/E ratio (TTM) | 15.21 | 27.15 |
| Forward P/E | 14.11 | 23.58 |
| EPS (TTM) | $5.79 | $10.46 |
| Dividend yield | 4.82% | 1.58% |
| Annual dividend | $4.24 | $4.50 |
| Revenue (latest FY) | $33.63B | $17.03B |
| Revenue growth (YoY) | +54.99% | +3.95% |
| Net income (latest FY) | $3.39B | $1.92B |
| Gross margin | 30.50% | 38.29% |
| Operating margin | 17.07% | 19.56% |
| Net margin | 10.09% | 11.29% |
| 52-week high | $99.85 | $307.94 |
| 52-week low | $64.02 | $144.14 |
| Distance from 52-week high | -11.82% | -7.79% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +14.93% | +14.62% |
| Average volume | 3.64M | 1.19M |
| Shares outstanding | 630.41M | 214.43M |
| Employees | 6,326 | 3,570 |
| Sector | Utilities | Utilities |
| Industry | Oil & Gas Production | 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 OKE by 48.6 percentage points over the past year.
- Targa Resources trades at a higher earnings multiple (27.1x vs 15.2x trailing P/E).
- ONEOK offers a meaningfully higher dividend yield (4.82% vs 1.58%).
- ONEOK grew revenue faster in its latest fiscal year (+54.99% vs +3.95%).
About ONEOK
OKE stock →ONEOK, Inc. operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States.
Utilities · Oil & Gas Production · 6,326 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
OKE vs TRGP FAQ
Which is bigger, ONEOK or Targa Resources?
Targa Resources (TRGP) is larger, with a market capitalization of $60.89B compared with $55.51B for ONEOK (OKE).
Which stock has performed better over the past year, OKE or TRGP?
TRGP returned +69.90% over the past 12 months, compared with +21.31% for OKE (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, OKE or TRGP?
OKE has the lower trailing P/E at 15.2, 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, ONEOK or Targa Resources?
ONEOK has the higher yield at 4.82%, compared with 1.58% for Targa Resources.
Are ONEOK and Targa Resources in the same industry?
Both are in the Utilities sector, but in different industries: Oil & Gas Production for ONEOK and Natural Gas Distribution for Targa Resources.