Natural Gas Transmission stocks: intrinsic value, ROIC & growth
14 U.S. natural gas transmission companies with at least three years of SEC filings, ranked by size. 6 of the 8 with a current price trade below their Graham intrinsic value. The median company earned a 5.6% average return on invested capital and grew revenue 10.7% a year.
Updated October 18, 2026
14companies
6below Graham value
5.6%median 10-yr ROIC
10.7%median revenue CAGR
Most undervalued natural gas transmission stocks
| Ticker | Company | Upside | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| AROC | Archrock, Inc. | +106% | $29.56 | $60.78 | 51% below | $5.2B | 2.2% | 7.0% |
| KNTK | Kinetik Holdings Inc. | +58% | $55.30 | $87.36 | 37% below | $3.5B | 49.9% | 81.3% |
| AM | Antero Midstream Corp | +38% | $20.64 | $28.57 | 28% below | $10.0B | 5.0% | 60.4% |
| KMI | Kinder Morgan | +33% | $34.20 | $45.51 | 25% below | $76.0B | 4.2% | 1.7% |
| DTM | DT Midstream, Inc. | +1% | $123.67 | $125.02 | 1% below | $12.7B | 5.5% | 16.2% |
Highest-ROIC natural gas transmission stocks
| Ticker | Company | 10-yr ROIC | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|---|
| KNTK | Kinetik Holdings Inc. | 49.9% | $55.30 | $87.36 | 37% below | $3.5B | 49.9% | 81.3% |
| ET | Energy Transfer LP | 6.5% | $20.26 | — | — | — | 6.5% | 9.6% |
| TRGP | Targa Resources | 5.7% | $294.90 | $282.00 | 5% above | $64.0B | 5.7% | 10.9% |
| WMB | Williams Companies | 5.6% | $71.28 | $6.46 | 1003% above | $87.3B | 5.6% | 7.9% |
| DTM | DT Midstream, Inc. | 5.5% | $123.67 | $125.02 | 1% below | $12.7B | 5.5% | 16.2% |
| AM | Antero Midstream Corp | 5.0% | $20.64 | $28.57 | 28% below | $10.0B | 5.0% | 60.4% |
| KMI | Kinder Morgan | 4.2% | $34.20 | $45.51 | 25% below | $76.0B | 4.2% | 1.7% |
| AROC | Archrock, Inc. | 2.2% | $29.56 | $60.78 | 51% below | $5.2B | 2.2% | 7.0% |
All natural gas transmission stocks
| Ticker | Company | Price | Graham value | Price vs value | Market cap | ROIC (10y) | Revenue CAGR |
|---|---|---|---|---|---|---|---|
| ET | Energy Transfer LP | $20.26 | — | — | — | 6.5% | 9.6% |
| WMB | Williams Companies | $71.28 | $6.46 | 1003% above | $87.3B | 5.6% | 7.9% |
| EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | $36.82 | $56.13 | 34% below | $80.6B | — | 9.6% |
| KMI | Kinder Morgan | $34.20 | $45.51 | 25% below | $76.0B | 4.2% | 1.7% |
| TRGP | Targa Resources | $294.90 | $282.00 | 5% above | $64.0B | 5.7% | 10.9% |
| DTM | DT Midstream, Inc. | $123.67 | $125.02 | 1% below | $12.7B | 5.5% | 16.2% |
| AM | Antero Midstream Corp | $20.64 | $28.57 | 28% below | $10.0B | 5.0% | 60.4% |
| WES | Western Midstream Partners, LP | $44.62 | — | — | — | — | 8.8% |
| NGL | NGL Energy Partners LP | $15.20 | — | — | — | — | -14.6% |
| AROC | Archrock, Inc. | $29.56 | $60.78 | 51% below | $5.2B | 2.2% | 7.0% |
| KGS | Kodiak Gas Services, Inc. | $47.21 | — | — | $4.2B | 8.7% | 21.2% |
| KNTK | Kinetik Holdings Inc. | $55.30 | $87.36 | 37% below | $3.5B | 49.9% | 81.3% |
| USAC | USA Compression Partners, LP | $25.52 | — | — | — | — | 15.9% |
| SMC | Summit Midstream Corp | $30.70 | — | — | $372.5M | -3.2% | 10.7% |
Stock lists
Undervalued Stocks Below Graham Intrinsic Value
Highest ROIC Stocks (10-Year Average)
Highest Free Cash Flow Yield Stocks
Fastest-Growing Stocks by 10-Year Revenue