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TRGP vs WMB
TRGP vs WMB Stock Comparison: Earnings Recap + Record Results and Growth Outlook
Key Takeaways
- Targa Resources (TRGP) reported record full-year 2025 adjusted EBITDA of $4.96 billion, up 20% year-over-year, with Q4 net income of $545 million, up 55%.
- Williams Companies (WMB) delivered record 2025 adjusted EBITDA of $7.75 billion, up 9%, and raised its dividend for the 52nd consecutive year.
- Both midstream leaders issued strong 2026 guidance: TRGP at $5.4–$5.6 billion adjusted EBITDA (11% growth), WMB at $8.05–$8.35 billion (6% growth).
- TRGP boosted its quarterly dividend 25% to $1.25 per share; WMB increased 5% to $2.10 annualized.
- TRGP focuses on Permian growth and NGLs; WMB emphasizes natural gas pipelines and power innovation projects.
- TRGP trades at a higher P/E with stronger growth trajectory, while WMB offers scale and stability.
Earnings Context and Why This Comparison Matters
Targa Resources Corp. (TRGP) and The Williams Companies, Inc. (WMB) are key players in the midstream energy sector, transporting and processing natural gas, NGLs, and related products. TRGP specializes in gathering, processing, and NGL logistics, particularly in the Permian Basin, while WMB operates one of the largest natural gas pipeline networks in the U.S. Recent earnings highlight their resilience amid volatile commodity prices and rising demand for energy infrastructure. Comparing them reveals insights into growth potential, capital discipline, and exposure to natural gas and power demand trends, aiding investors in assessing relative value in a sector poised for expansion.
Targa Resources Focus
Targa Resources released its Q4 and full-year 2025 earnings on February 19, 2026, posting record results. Full-year adjusted EBITDA reached $4.96 billion, a 20% increase from $4.14 billion in 2024, driven by record Permian volumes, NGL transportation, fractionation, and LPG exports. Q4 adjusted EBITDA was $1.34 billion, up 20% year-over-year, with net income attributable to common shareholders at $545 million, up 55%. Revenue totaled $17.03 billion for the year, up 4%.
Strategic moves included completing the Bull Moose II plant, two Permian acquisitions, and the Stakeholder Midstream purchase in January 2026. For 2026, Targa guides adjusted EBITDA to $5.4–$5.6 billion and proposes a 25% dividend hike to $5.00 annualized, reflecting confidence in Permian growth and new projects like Train 13 fractionator.
Williams Companies Context
Williams Companies reported Q4 and full-year 2025 results on February 10, 2026, achieving record adjusted EBITDA of $7.75 billion, up 9% from 2024, with Q4 at $2.03 billion. Net income rose 18% to $2.62 billion annually, supported by higher volumes across segments and completions of 12 projects, including pipeline expansions. Service revenues grew to $8.35 billion.
Key acquisitions like Rimrock and Saber bolstered West segment performance. Guidance for 2026 includes adjusted EBITDA of $8.05–$8.35 billion, growth capex of $6.1–$6.7 billion, and a 5% dividend increase to $2.10 annualized, maintaining a leverage midpoint of 4.0x. WMB's focus on natural gas transmission and emerging power projects positions it for sustained demand.
Head-to-Head Earnings and Market Comparison
TRGP demonstrated superior growth with 20% adjusted EBITDA expansion versus WMB's 9%, fueled by Permian NGL exposure, though WMB's scale yields higher absolute EBITDA ($7.75B vs. $4.96B) and revenue ($11.95B vs. $17.03B). Both reaffirmed robust 2026 outlooks, with TRGP's 11% growth edging WMB's 6%, supported by aggressive capex.
Dividend yields favor WMB at ~2.3% ($2.10/share) over TRGP's ~1.8% post-hike ($5.00/share), with TRGP showing higher risk from commodity ties but stronger volume leverage. Market caps approximate $49B for TRGP and $88B for WMB, with TRGP's higher P/E (~30x) reflecting growth premium. Risks include energy price volatility, but both exhibit strong balance sheets and project backlogs.
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Tickeron AI Verdict
Tickeron AI currently favors TRGP with a 65% probability of outperformance over the next 12 months, driven by superior earnings growth quality, aggressive Permian expansion, and higher projected EBITDA growth rate, despite WMB's larger scale and stability.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full Disclaimers and Limitations.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is TRGP is a StrongBuy and WMB is a StrongBuy.
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
TRGP’s FA Score shows that 4 FA rating(s) are green whileWMB’s FA Score has 2 green FA rating(s).
- TRGP’s FA Score: 4 green, 1 red.
- WMB’s FA Score: 2 green, 3 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
TRGP’s TA Score shows that 3 TA indicator(s) are bullish while WMB’s TA Score has 6 bullish TA indicator(s).
- TRGP’s TA Score: 3 bullish, 5 bearish.
- WMB’s TA Score: 6 bullish, 4 bearish.
Price Growth
TRGP (@Oil & Gas Pipelines) experienced а +3.22% price change this week, while WMB (@Oil & Gas Pipelines) price change was +0.91% for the same time period.
The average weekly price growth across all stocks in the @Oil & Gas Pipelines industry was +2.49%. For the same industry, the average monthly price growth was -2.15%, and the average quarterly price growth was +30.32%.
Reported Earning Dates
TRGP is expected to report earnings on Jul 30, 2026.
WMB is expected to report earnings on Aug 10, 2026.
Industries' Descriptions
@Oil & Gas Pipelines (+2.49% weekly)Oil & Gas Pipelines industry includes companies that transport natural gas and crude oil through pipelines. These companies also collect and market the fuels. The pipeline segment could be considered as a midstream operation – functioning as a link between the upstream and downstream operations in the oil and gas industry. Some of the largest U.S. pipeline players include Enterprise Products Partners L.P, TC Energy Corporation and Energy Transfer, L.P.
| TRGP | WMB | TRGP / WMB | |
| Capitalization | 58.5B | 88.2B | 66% |
| EBITDA | 5.22B | 7.67B | 68% |
| Gain YTD | 49.233 | 21.668 | 227% |
| P/E Ratio | 27.84 | 31.61 | 88% |
| Revenue | 16.6B | 11.9B | 139% |
| Total Cash | 100M | N/A | - |
| Total Debt | 19.1B | 30.3B | 63% |
TRGP | WMB | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 87 | 82 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 33 Fair valued | 24 Undervalued | |
PROFIT vs RISK RATING 1..100 | 7 | 3 | |
SMR RATING 1..100 | 15 | 43 | |
PRICE GROWTH RATING 1..100 | 13 | 50 | |
P/E GROWTH RATING 1..100 | 63 | 53 | |
SEASONALITY SCORE 1..100 | 19 | 65 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
WMB's Valuation (24) in the Oil And Gas Pipelines industry is in the same range as TRGP (33) in the Oil Refining Or Marketing industry. This means that WMB’s stock grew similarly to TRGP’s over the last 12 months.
WMB's Profit vs Risk Rating (3) in the Oil And Gas Pipelines industry is in the same range as TRGP (7) in the Oil Refining Or Marketing industry. This means that WMB’s stock grew similarly to TRGP’s over the last 12 months.
TRGP's SMR Rating (15) in the Oil Refining Or Marketing industry is in the same range as WMB (43) in the Oil And Gas Pipelines industry. This means that TRGP’s stock grew similarly to WMB’s over the last 12 months.
TRGP's Price Growth Rating (13) in the Oil Refining Or Marketing industry is somewhat better than the same rating for WMB (50) in the Oil And Gas Pipelines industry. This means that TRGP’s stock grew somewhat faster than WMB’s over the last 12 months.
WMB's P/E Growth Rating (53) in the Oil And Gas Pipelines industry is in the same range as TRGP (63) in the Oil Refining Or Marketing industry. This means that WMB’s stock grew similarly to TRGP’s over the last 12 months.
| TRGP | WMB | |
|---|---|---|
| RSI ODDS (%) | 3 days ago 51% | 3 days ago 85% |
| Stochastic ODDS (%) | 3 days ago 52% | 3 days ago 75% |
| Momentum ODDS (%) | 3 days ago 72% | 3 days ago 66% |
| MACD ODDS (%) | 3 days ago 62% | 3 days ago 45% |
| TrendWeek ODDS (%) | 3 days ago 74% | 3 days ago 68% |
| TrendMonth ODDS (%) | 3 days ago 74% | 3 days ago 45% |
| Advances ODDS (%) | 5 days ago 75% | 11 days ago 70% |
| Declines ODDS (%) | 17 days ago 54% | 7 days ago 45% |
| BollingerBands ODDS (%) | 3 days ago 59% | 3 days ago 70% |
| Aroon ODDS (%) | 3 days ago 77% | 3 days ago 62% |
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TRGP and
Correlation & Price change
A.I.dvisor indicates that over the last year, TRGP has been closely correlated with OKE. These tickers have moved in lockstep 72% of the time. This A.I.-generated data suggests there is a high statistical probability that if TRGP jumps, then OKE could also see price increases.
| Ticker / NAME | Correlation To TRGP | 1D Price Change % | ||
|---|---|---|---|---|
| TRGP | 100% | +1.20% | ||
| OKE - TRGP | 72% Closely correlated | +1.56% | ||
| KMI - TRGP | 57% Loosely correlated | +1.85% | ||
| KNTK - TRGP | 55% Loosely correlated | +0.51% | ||
| WMB - TRGP | 54% Loosely correlated | +1.39% | ||
| PAGP - TRGP | 54% Loosely correlated | -0.04% | ||
More | ||||
WMB and
Correlation & Price change
A.I.dvisor indicates that over the last year, WMB has been closely correlated with KMI. These tickers have moved in lockstep 80% of the time. This A.I.-generated data suggests there is a high statistical probability that if WMB jumps, then KMI could also see price increases.