COMPARE · Data as of August 21, 2026
PAGP vs TRGP
Verdict: Side-by-side breakdown using the Bull Rankings model. PAGP scored 57.5, TRGP scored 52.4 — PAGP leads.
Compare another set
PAGP
Plains GP Holdings, L.P.
57.5
$26.84 · $6.3B
fundamentals as of
Score gap
5.1
PAGP leads
TRGP
Targa Resources Corp.
52.4
$299.10 · $64.1B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
- CheapestTRGP28.6x
- Fastest growthPAGP+12.2%
- Strongest balance sheetPAGP0.56
- Highest qualityTRGP77 / 100
- Largest discount to fair valuePAGP-86%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
PAGP
stronger →← stronger
TRGP
59
Qualityreturns · margins · balance sheet
77
50
Growthrevenue & earnings expansion
41
65
Valuevaluation vs sector peers
45
PAGP is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
PAGP
TRGP
$2.4bB
FCF
$741mC+
+12.2%B+
Rev
-2.0%D+
0.56B
D/E
5.16D
76.7xD
P/E
28.6xC
0.67A-
PEG
1.25B
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
PAGP
TRGP
86% below
Price vs fair valuelower is cheaper
336% above
decline
Growth the price implies10-yr FCF · lower = less priced in
~42%/yr
+519%
1-yr DCF upside
-78%
+614%
5-yr DCF upside
-77%
+778%
10-yr DCF upside
-76%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
PAGP
Why this score
- Raising its dividend
- Cyclical growth
TRGP
Why this score
- Raising its dividend
- Durable high returns
The companies
PAGPPlains GP Holdings, L.P.
Why now
Oil & Gas Midstream · market cap $6.3b. Trading near 52-week high of $27.17 — momentum setup, limited technical margin of safety. Revenue growing +12%, comfortably above the S&P median. PEG 0.67 — paying under fair value for the growth rate. 14 sell-side analysts rate this a Buy with a mean 1-yr target of $24.86 (implying -7% upside).
Moat
Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
Trailing P/E 76.7x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating. Trading within 1% of the 52-week high — limited technical margin of safety; a momentum reversal would test conviction. Dividend payout 456% of earnings on a 6.3% yield — distribution coverage is thin; one earnings stumble could force a dividend cut.
TRGPTarga Resources Corp.
Why now
Oil & Gas Midstream · market cap $64.1b. Trading near 52-week high of $307.94 — momentum setup, limited technical margin of safety. 21 sell-side analysts rate this a Buy with a mean 1-yr target of $305.24 (implying +2% upside).
Moat
Net margin 14% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 62% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. $64.1b market cap gives the company enough scale to absorb fixed costs that subscale competitors can't, without yet being so large that growth has to come from acquisition.
Risk
D/E 5.16 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Trading within 3% of the 52-week high — limited technical margin of safety; a momentum reversal would test conviction. Jurisdictional + permitting risk — mining and extraction operations concentrate exposure to political stability, royalty regimes, and environmental review timelines that can stall production for years.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where PAGP and TRGP diverge
On the headline score the gap is 5.1 points in favor of PAGP. They get there differently, though — each leads on a different pillar, so the better pick depends on which you weight.
- ValuePAGP 64.5 · TRGP 45.2PAGP +19.3
- QualityPAGP 58.8 · TRGP 77.3TRGP +18.5
- GrowthPAGP 50.0 · TRGP 41.1PAGP +8.9
Pillars run 0–100 against sector peers, so a score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.