Oil & Gas Midstream Stocks — Fair Value & Margin of Safety

Equity Rank covers 45 Oil & Gas Midstream companies; 40 have a published model fair value, and 20 of those (50%) trade below the model estimate. The median model fair value sits 0.4% above the current price, under these model assumptions. Data as of 2026-10-22.

Source: Equity Rank — Oil & Gas Midstream stocks. Model fair value is a multi-method blend (DCF, Graham Number, earnings power, sector multiples and more), recomputed after each U.S. market close.

Oil & Gas Midstream stocks furthest below the model estimate

Among companies valued by at least five methods. A wide gap can also mean the models are missing something.

  1. TEN — Tsakos Energy Navigation Limited: model fair value $93.75 vs. price $51.65, a model fair value differential of 81.5% above the current price (as of 2026-10-22)
  2. STNG — Scorpio Tankers Inc: model fair value $138.62 vs. price $82.44, a model fair value differential of 68.2% above the current price (as of 2026-10-22)
  3. TRMD — Torm PLC Class A: model fair value $62.25 vs. price $38.53, a model fair value differential of 61.6% above the current price (as of 2026-10-22)
  4. TK — Teekay Corporation: model fair value $21.25 vs. price $14.11, a model fair value differential of 50.6% above the current price (as of 2026-10-22)
  5. TNK — Teekay Tankers Ltd: model fair value $135.40 vs. price $95.31, a model fair value differential of 42.1% above the current price (as of 2026-10-22)
  6. KNOP — KNOT Offshore Partners LP: model fair value $13.91 vs. price $10.05, a model fair value differential of 38.4% above the current price (as of 2026-10-22)
  7. LPG — Dorian LPG Ltd: model fair value $70.96 vs. price $51.44, a model fair value differential of 38.0% above the current price (as of 2026-10-22)
  8. PAGP — Plains GP Holdings LP: model fair value $36.59 vs. price $27.93, a model fair value differential of 31.0% above the current price (as of 2026-10-22)
  9. DHT — DHT Holdings Inc: model fair value $28.23 vs. price $24.12, a model fair value differential of 17.0% above the current price (as of 2026-10-22)
  10. INSW — International Seaways Inc: model fair value $124.69 vs. price $108.42, a model fair value differential of 15.0% above the current price (as of 2026-10-22)

All 45 Oil & Gas Midstream companies

TickerCompanyPriceModel fair valueGap
ENBEnbridge Inc$48.01Not published—
WMBWilliams Companies Inc$70.84$51.49-27.3%
EPDEnterprise Products Partners LP$36.52$31.50-13.8%
KMIKinder Morgan Inc$33.72$30.09-10.8%
ETEnergy Transfer LP$20.04$20.25+1.1%
TRPTC Energy Corp$61.98Not published—
TRGPTarga Resources Inc$289.54$152.90-47.2%
MPLXMPLX LP$58.18$46.28-20.4%
OKEONEOK Inc$93.90$89.77-4.4%
LNGCheniere Energy Inc$287.01$300.86+4.8%
VGVenture Global, Inc.$12.83$13.13+2.3%
CQPCheniere Energy Partners LP$64.22$62.00-3.5%
PBAPembina Pipeline Corp$49.37Not published—
WESWestern Midstream Partners LP$44.46$36.86-17.1%
PAAPlains All American Pipeline LP$25.90$22.87-11.7%
VNOMViper Energy Ut$45.35$40.90-9.8%
DTMDT Midstream Inc$123.40$88.68-28.1%
FROFrontline Ltd$51.22$56.06+9.4%
AMAntero Midstream Partners LP$20.61$15.69-23.9%
KNTKKinetik Holdings Inc$54.64$54.51-0.2%
SOBOSouth Bow Corporation$34.57$27.54-20.3%
PAGPPlains GP Holdings LP$27.93$36.59+31.0%
HESMHess Midstream Partners LP$30.04$29.82-0.7%
INSWInternational Seaways Inc$108.42$124.69+15.0%
CMBTCMB.TECH NV$18.09$20.32+12.3%
GLNGGolar LNG Limited$44.15$32.92-25.4%
STNGScorpio Tankers Inc$82.44$138.62+68.2%
TRMDTorm PLC Class A$38.53$62.25+61.6%
BWLPBW LPG Limited$24.73$27.28+10.3%
DHTDHT Holdings Inc$24.12$28.23+17.0%
EEExcelerate Energy Inc$31.52$32.22+2.2%
TNKTeekay Tankers Ltd$95.31$135.40+42.1%
LPGDorian LPG Ltd$51.44$70.96+38.0%
NGLNGL Energy Partners LP$15.49Not published—
GELGenesis Energy LP$13.90$14.31+3.0%
GLPGlobal Partners LP$48.53$52.44+8.1%
PBTPermian Basin Royalty Trust$33.27$28.69-13.8%
TENTsakos Energy Navigation Limited$51.65$93.75+81.5%
NATNordic American Tankers Limited$7.54$5.96-20.9%
FLNGFLEX LNG Ltd$27.94$22.63-19.0%
NVGSNavigator Holdings Ltd$21.48$24.21+12.7%
TKTeekay Corporation$14.11$21.25+50.6%
SBRSabine Royalty Trust$72.25$65.54-9.3%
SMCSummit Midstream Corporation$30.40Not published—
KNOPKNOT Offshore Partners LP$10.05$13.91+38.4%

Largest companies first. Gap = model fair value differential versus the current price; positive means the price sits below the model estimate. “Not published” means the models lacked reliable data.

Compare Oil & Gas Midstream peers

WMB vs EPD · WMB vs KMI · WMB vs ET · WMB vs TRGP · WMB vs MPLX · EPD vs KMI · EPD vs ET · EPD vs TRGP · EPD vs MPLX · KMI vs ET · KMI vs TRGP · KMI vs MPLX · ET vs TRGP · ET vs MPLX · TRGP vs MPLX

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