Industry ยท Oct 2026
Oil & Gas Midstream stocks ranked by gap to the model's fair value
Faircurve's model values 9 oil & gas midstream stocks. 8 of them are ranked below by the gap between the model's fair value and the last close, as of 31 Oct 2026: 0 read as Undervalued, 6 as Fairly valued and 2 as Overvalued. The median gap across the ranked names is -9.0%. The widest gaps above the price are LPG (+11.9%), OKE (+9.4%), AM (+7.4%). The widest below it are WMB (-17.8%), VNOM (-17.1%), TRGP (-14.2%).
Valuations as of . Prices are the closes of 3 Nov 2026. The gap is the model's fair value against the price: a positive gap means the fair value is above the price. It states what the model concluded, not where the price goes next.
The ranking
| Rank | Company | Last close | Model fair value | Gap | Model verdict | Quality score | Market value |
|---|---|---|---|---|---|---|---|
| 1 | LPG Dorian LPG Ltd. | $51.96 | $58.16 | +11.9% | Fairly valued | 74 | $2.3B |
| 2 | OKE ONEOK, Inc. | $91.94 | $100.54 | +9.4% | Fairly valued | 51 | $61.2B |
| 3 | AM Antero Midstream Corporation | $20.94 | $22.50 | +7.4% | Fairly valued | 69 | $10.1B |
| 4 | DTM DT Midstream, Inc. | $122.58 | $113.90 | -7.1% | Fairly valued | 52 | $12.7B |
| 5 | KMI Kinder Morgan, Inc. | $32.87 | $29.27 | -11.0% | Fairly valued | 36 | $75.5B |
| 6 | TRGP Targa Resources Corp. | $298.56 | $256.04 | -14.2% | Fairly valued | 57 | $67.5B |
| 7 | VNOM Viper Energy, Inc. | $44.17 | $36.62 | -17.1% | Overvalued | 50 | $17.1B |
| 8 | WMB The Williams Companies, Inc. | $72.47 | $59.55 | -17.8% | Overvalued | 35 | $90.9B |
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Valued but not ranked
One name is valued but not ranked, for one of four reasons: the model grades the evidence as low or has not graded it yet, the inputs are under review, the gap is wider than 60%, or the valuation is more than three weeks old. The numbers are shown for reference.
| Company | Last close | Model fair value | Gap | Why it is not ranked | Quality score | Market value |
|---|---|---|---|---|---|---|
| KNTK Kinetik Holdings Inc. | $54.24 | $44.68 | -17.6% | Low evidence grade | 33 | $4.6B |