Is NGL or TRGP more undervalued in 2026?

CirclFi compares NGL ENERGY PARTNERS LP (NGL) and Targa Resources, Inc. (TRGP) using 13 institutional-grade valuation models. NGL has a Quality of Company score of 6.4/10 while TRGP scores 8.9/10.

Which is a better buy — NGL or TRGP?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NGL and TRGP valuations compare?

NGL at $17.10 and TRGP at $255.07 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NGL vs TRGP Valuation Comparison 2026 — Intrinsic Value Analysis

NGL

Natural Gas Transmission

NGL ENERGY PARTNERS LP

Quality

6.4

out of 10

Value Trap

SAFE

Price

$17.10

Last close

Models

12/13

Active

TRGP

Natural Gas Transmission

Targa Resources, Inc.

Quality

8.9

out of 10

Value Trap

—

Price

$255.07

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	NGL Fair Value	NGL Upside	TRGP Fair Value	TRGP Upside
Bayesian DCF	Intrinsic	$14.49	-15.3%	$14.72	-94.6%
Earnings Power Value	Intrinsic	$39.83	+132.9%	$10.52	-95.9%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NGL vs TRGP — Which Stock Is More Undervalued?

TRGP scores higher with a 8.9/10 quality rating vs NGL's 6.4/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing NGL ENERGY PARTNERS LP (NGL) and Targa Resources, Inc. (TRGP) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NGL currently trades at $17.10 with a QOC of 6.4/10, while TRGP trades at $255.07 with a QOC of 8.9/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).