Pipelines & Midstream
24 companies across the library’s three pools, one row each. The columns are the line items this kind of business is read on; each header names its basis, and the margins and returns are medians over each company’s readable record — the through-cycle level, never one year’s print. Rows open largest first by latest-year revenue, and every column sorts both ways — the re-ordering is the reader’s own act, and a sorted view keeps its order in the address bar. The company stays in view as the columns scroll. A dash is a figure that could not be read; n/a is one that does not apply to that member; both sit at the back of a sorted column.
From the latest filings · data as of July 9, 2026.
As a group: median revenue $5.5B; median operating margin 21.4%; median owner earnings $1.5B; median return on invested capital 5.8%; 0 of 22 hold net cash; median dividends paid $1.1B. Medians of this table’s own columns, over the members each applies to · data as of July 9, 2026.
| latest fiscal year, USD | median over the record | op. cash − maintenance capex · latest FY, USD | after tax · median over the record | debt − cash & ST investments · latest FY, USD | latest fiscal year, USD | ||||
|---|---|---|---|---|---|---|---|---|---|
| ET | Energy Transfer LP Common | Pipelines & Midstream | $85.5B | 10.0% | $3.8B | 8.0% | $67.1B | — | |
| EPD | Enterprise Products Partners L.P. | Pipelines & Midstream | $52.6B | 13.9% | $6.5B | — | $33.4B | — | |
| PAA | Plains All American Pipeline L.P. Common | Pipelines & Midstream | $44.3B | 2.7% | $2.3B | — | $10.9B | — | |
| PAGP | Plains GP Holdings L.P. Class A | Pipelines & Midstream | $44.3B | 2.6% | $2.3B | — | $10.9B | — | |
| OKE | ONEOK Inc. | Pipelines & Midstream | $33.6B | 15.7% | $4.1B | 8.1% | $31.9B | $2.6B | |
| NGG | NATIONAL GRID PLC | Pipelines & Midstream | $23.6B | 22.5% | $8.4B | 5.0% | $51.6B | $2.2B | |
| TRGP | Targa Resources Inc. | Pipelines & Midstream | $17.0B | 2.6% | $2.4B | 1.2% | $17.4B | $179M | |
| KMI | Kinder Morgan Inc. | Pipelines & Midstream | $15.2B | 27.1% | $2.9B | 4.1% | $40.2B | $2.6B | |
| WMB | Williams Companies Inc. (The) | Pipelines & Midstream | $14.9B | 20.6% | $3.6B | 5.9% | $28.6B | $2.4B | |
| TRP | TC Energy Corporation | Pipelines & Midstream | $10.9B | 40.7% | ($92M) | 7.5% | $27.0B | $2.5B | |
| MPLX | MPLX LP Common | Pipelines & Midstream | $9.7B | 30.8% | $4.6B | — | $23.9B | — | |
| PBA | PEMBINA PIPELINE CORPORATION | Pipelines & Midstream | $5.5B | 27.5% | $1.8B | 7.8% | $7.8B | $1.1B | |
| WES | Western Midstream Partners LP Common | Pipelines & Midstream | $3.8B | 41.7% | $1.5B | — | $7.8B | $1.4B | |
| NGL | NGL ENERGY PARTNERS LP Common | Pipelines & Midstream | $3.2B | 2.7% | $145M | — | $3.3B | — | |
| SOBO | South Bow Corporation | Pipelines & Midstream | $2.0B | 51.5% | $576M | — | — | $416M | |
| KNTK | Kinetik Holdings Inc. | Pipelines & Midstream | $1.8B | 8.1% | $221M | 1.1% | $3.8B | $194M | |
| GEL | Genesis Energy | Pipelines & Midstream | $1.6B | 10.9% | $66M | — | $3.4B | — | |
| KGS | Kodiak Gas Services | Pipelines & Midstream | $1.3B | 28.7% | $284M | 5.8% | $2.6B | $160M | |
| DTM | DT Midstream Inc. Common Stock | Pipelines & Midstream | $1.2B | 51.1% | $609M | 5.2% | $3.3B | $324M | |
| AM | Antero Midstream Corporation | Pipelines & Midstream | $1.2B | 54.2% | $862M | 7.6% | $3.0B | $439M | |
| DKL | Delek Logistics Partners L.P. Common | Pipelines & Midstream | $1.0B | 20.2% | $112M | — | $2.3B | — | |
| USAC | USA Compression Partners LP Common | Pipelines & Midstream | $998M | 22.3% | $277M | — | $2.5B | — | |
| SMC | Summit Midstream Corporation | Pipelines & Midstream | $562M | 12.9% | $45M | — | $1.0B | — | |
| TGS | Transportadora de Gas del Sur SA TGS | Pipelines & Midstream | as filed: ARS 1.22T | 31.9% | as filed: ARS 354.5B | — | as filed: ARS 520.1B | as filed: ARS 0 |
Every figure is recomputed from the company’s own SEC or EDINET filings, the same way as on its page; the columns name facts, weigh nothing, and form no rank. Foreign filers are stated in US dollars at the dated reference rate (as of 2026-07-17) so each money column sorts on one basis; their own pages keep the records as filed. A foreign filer whose conversion terms are missing shows its money as filed and sorts to the back of the column — never a guessed conversion. Ratios and margins are currency-free.