WallStSmart

NGL Energy Partners LP (NGL)vsTC Energy Corp (TRP)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

TC Energy Corp generates 332% more annual revenue ($15.24B vs $3.53B). TRP leads profitability with a 23.1% profit margin vs 4.5%. TRP earns a higher WallStSmart Score of 59/100 (C).

NGL

Buy

53

out of 100

Grade: C-

Growth: 3.3Profit: 7.0Value: 5.0Quality: 4.3
Piotroski: 5/9

TRP

Buy

59

out of 100

Grade: C

Growth: 6.0Profit: 7.5Value: 4.7Quality: 3.0
Piotroski: 4/9Altman Z: 0.48
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

Intrinsic value data unavailable for NGL.

TRPSignificantly Overvalued (-216.8%)

Margin of Safety

-216.8%

Fair Value

$19.23

Current Price

$64.08

$44.85 premium

UndervaluedFair: $19.23Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NGL1 strengths · Avg: 10.0/10
Operating MarginProfitability
43.9%10/10

Strong operational efficiency at 43.9%

TRP4 strengths · Avg: 9.0/10
Operating MarginProfitability
45.4%10/10

Strong operational efficiency at 45.4%

Market CapQuality
$66.54B9/10

Large-cap with strong market position

Profit MarginProfitability
23.1%9/10

Keeps 23 of every $100 in revenue as profit

Revenue GrowthGrowth
16.5%8/10

16.5% revenue growth

Areas to Watch

NGL4 concerns · Avg: 2.3/10
Market CapQuality
$1.61B3/10

Smaller company, higher risk/reward

Profit MarginProfitability
4.5%3/10

4.5% margin — thin

EPS GrowthGrowth
-60.1%2/10

Earnings declined 60.1%

Debt/EquityHealth
5.051/10

Elevated debt levels

TRP4 concerns · Avg: 3.0/10
P/E RatioValuation
25.3x4/10

Moderate valuation

EPS GrowthGrowth
0.5%4/10

0.5% earnings growth

PEG RatioValuation
4.612/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.482/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : NGL

The strongest argument for NGL centers on Operating Margin.

Bull Case : TRP

The strongest argument for TRP centers on Operating Margin, Market Cap, Profit Margin. Profitability is solid with margins at 23.1% and operating margin at 45.4%. Revenue growth of 16.5% demonstrates continued momentum.

Bear Case : NGL

The primary concerns for NGL are Market Cap, Profit Margin, EPS Growth. Debt-to-equity of 5.05 is elevated, increasing financial risk. Thin 4.5% margins leave little buffer for downturns.

Bear Case : TRP

The primary concerns for TRP are P/E Ratio, EPS Growth, PEG Ratio. Debt-to-equity of 2.23 is elevated, increasing financial risk.

Key Dynamics to Monitor

NGL profiles as a value stock while TRP is a growth play — different risk/reward profiles.

TRP carries more volatility with a beta of 1.00 — expect wider price swings.

TRP is growing revenue faster at 16.5% — sustainability is the question.

TRP generates stronger free cash flow (548M), providing more financial flexibility.

Bottom Line

TRP scores higher overall (59/100 vs 53/100), backed by strong 23.1% margins and 16.5% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

NGL Energy Partners LP

ENERGY · OIL & GAS MIDSTREAM · USA

NGL Energy Partners LP is engaged in the crude oil and liquids logistics and water solutions businesses. The company is headquartered in Tulsa, Oklahoma.

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TC Energy Corp

ENERGY · OIL & GAS MIDSTREAM · USA

TC Energy Corporation is an energy infrastructure company in North America. The company is headquartered in Calgary, Canada.

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