15 Biggest Midstream Companies Heading into 2023

Published on November 15, 2022 at 9:34 am by Ramish Cheema in Lists, News

In this piece, we will take a look at the 15 biggest midstream companies heading into 2023. If you want to skip our introduction to the industry and jump ahead to the top five stocks in this list, then take a look at 5 Biggest Midstream Companies Heading Into 2023.

The oil and gas industry has been the star performer in the stock markets this year, as the energy crisis ushered in by the Russian war in Ukraine drove investors to a sector that only recently was placed right at the heart of climate change. Populations in developing and developed nations alike suffered from high gasoline prices since the global oil market faced a demand imbalance in the wake of increased demand for non-Russian oil.

Now, the consensus is that there is an underinvestment in oil exploration, and this give and take between high costs and investment in energy exploration was summarized perfectly by hedge fund boss and billionaire Mr. Ken Fisher in an interview he gave in June 2022. Taking stock of the current situation, Mr. Fisher outlined:

. . .Rising prices do have a negative impact on the desire to consume and GDP are real, but I want to point out that there’s counterbalances to all these features and these are ones that people don’t think about at a time like this. Rising energy prices inherently create a greater desire on a global basis to invest in energy, in the ground, or other ways. And there’s a fairly long history that shows that that’s a tight correlation. And what that does is that it buoys the economy. The fundamental feature is that partly, when the price of energy is up, people choose to do maybe something that they wouldn’t do otherwise, maybe drive a little less, maybe do something else. But in doing that they’re also still spending money. To the extent they suffer the consequences of the price of energy, the counterbalance is that somebody, somewhere is investing in creating more energy, and that’s helping somebody.

Today’s list focuses on the midstream oil and gas sector, and these firms primarily serve as the link between the oil producers and the end consumer. The midstream equipment segment was worth $28 billion in 2020, and it will grow at a compounded annual growth rate (CAGR) of 6.36% to sit at $44.5 billion by 2027. The top firms on our list are Enterprise Products Partners L.P. (NYSE:EPD), Enbridge Inc. (NYSE:ENB), and TC Energy Corporation (NYSE:TRP).

tcly / shutterstock.com

Our Methodology

We studied the midstream market in detail and identified the top players. These were then ranked through their market capitalization.

15 Biggest Midstream Companies Heading into 2023

15. Hess Midstream LP (NYSE:HESM)

Market Capitalization as of November 12, 2022: $6.9 billion

Hess Midstream LP (NYSE:HESM) gathers, stores, and processes oil and natural gas. The company has access to thousands of miles of gas and oil pipelines, which can process roughly 450 million cubic feet of natural gas and natural gas liquids per day. It is headquartered in Houston, Texas, the United States.

Hess Midstream LP (NYSE:HESM) has produced strong operating cash flow growth over the past three years. Between 2020 and 2021, its cash flows grew by a strong 24% annually, a remarkable achievement for a capitally intensive company. During the first half of this year, Hess Midstream LP (NYSE:HESM) reported another $404 million in operating cash flows, which continued to grow, at a rate that naturally slowed down due to the previously high readings.

Hess Midstream LP (NYSE:HESM) pays a 56 cent dividend for a 7.79% yield and its shares are up 3.51% year to date. The firm’s latest market capitalization is $6.9 billion.

Hess Midstream LP (NYSE:HESM)’s largest investor in our database is Schonfeld Strategic Advisors which owns 355,700 shares that are worth $9.9 million.

Enbridge Inc. (NYSE:ENB), Enterprise Products Partners L.P. (NYSE:EPD), and TC Energy Corporation (NYSE:TRP) are met by Hess Midstream LP (NYSE:HESM) in our list of the world’s largest midstream oil and gas companies

14. DCP Midstream, LP (NYSE:DCP)

Market Capitalization as of November 12, 2022: $8 billion

DCP Midstream, LP (NYSE:DCP) is an American company that operates midstream oil and gas assets such as gas processing plants. The firm is headquartered in Denver, Colorado.

DCP Midstream, LP (NYSE:DCP) posted a strong fiscal third quarter, which revealed that it had grown its revenues by a whopping 52% annually and turned a $6 million operating loss in the previous quarter to $247 million in operating profit. During that time period, the firm transported 731,000 barrels of natural gas liquids daily, and its distributable cash flow jumped by 29.6% annually.

DCP Midstream, LP (NYSE:DCP) pays a 43 cent dividend for a 4.44% yield. After its shares dipped in June, they have reversed all their losses and are now up 35% year to date.

DCP Midstream, LP (NYSE:DCP)’s largest investor is Ken Griffin’s Citadel Investment Group which owns 55,773 shares that are worth $1.6 million.

13. Plains All American Pipeline, L.P. (NASDAQ:PAA)

Market Capitalization as of November 12, 2022: $8.6 billion

Plains All American Pipeline, L.P. (NASDAQ:PAA) gathers, transports, and stores both oil and natural gas liquids. The firm has thousands of miles of pipelines, and it can store more than a hundred million barrels of crude oil. Plains All American Pipeline, L.P. (NASDAQ:PAA) is headquartered in Houston, Texas, the United States.

Plains All American Pipeline, L.P. (NASDAQ:PAA) has been having a good year so far, and the firm’s latest quarter saw it raise its operating income guidance by another 3.2%. This managed to push the guidance up by 11% since the firm had first provided it at the start of the year. The firm also transported a whopping 11.3 million barrels of oil per day during the third quarter.

Plains All American Pipeline, L.P. (NASDAQ:PAA) has an $8.6 billion market capitalization and it pays a 22 cent dividend for a 7.06% yield.

Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is Plains All American Pipeline, L.P. (NASDAQ:PAA)’s largest investor. It owns 1.6 million shares that are worth $16 million.

12. Magellan Midstream Partners, L.P. (NYSE:MMP)

Market Capitalization as of November 12, 2022: $10.86 billion

Magellan Midstream Partners, L.P. (NYSE:MMP) transports a wide variety of fuels such as diesel, kerosene, heating oil, aviation fuel, and gasoline to a host of different customers such as retailers and wholesalers.

Magellan Midstream Partners, L.P. (NYSE:MMP)’s shares have returned 10% year to date, a smack in the middle of a bear market. However, despite this, the firm is still trading at only roughly 10x of its cash flow, indicating that there might be some more growth left in the stock. This conjecture is boosted by its latest quarterly results, which saw the company grow revenue by 37%.

Magellan Midstream Partners, L.P. (NYSE:MMP)’s market capitalization is $10.86 billion.

Magellan Midstream Partners, L.P. (NYSE:MMP)’s largest investor is Jean-Marie Eveillard’s First Eagle Investment Management which owns 1.5 million shares that are worth $74 million.

11. Western Midstream Partners, LP (NYSE:WES)

Market Capitalization as of November 12, 2022: $10.92 billion

Western Midstream Partners, LP (NYSE:WES) compresses, treats, processes, and transports natural gas, natural gas liquids, and crude oil. The firm is based in The Woodlands, Texas, the United States.

Western Midstream Partners, LP (NYSE:WES) has bought close to $447 million of its stock in the first three quarters of this year, indicating management confidence in the stock’s future prospects. Firms generally only repurchase their shares if they believe that the stock is undervalued or when they want to satiate investors. Since Western Midstream Partners, LP (NYSE:WES) has performed well this year, the latter is unlikely.

Western Midstream Partners, LP (NYSE:WES) pays a 50 cent dividend for a 7.05% yield, and its shares are up 26% year to date. The firm has $10.92 billion in market capitalization.

Western Midstream Partners, LP (NYSE:WES)’s largest investor is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital which owns 1.2 million shares that are worth $29 million.

10. Targa Resources Corp. (NYSE:TRGP)

Market Capitalization as of November 12, 2022: $16.44 billion

Targa Resources Corp. (NYSE:TRGP) deals exclusively with natural gas liquids (NGLs) and NGL products. The firm stores and transports these to different end users. It is headquartered in Houston, Texas.

Targa Resources Corp. (NYSE:TRGP) mirrored the strong revenue growth trend in the midstream segment during its third quarter. Its fiscal results revealed that the company had grown its revenue by 20%. This growth came as Targa Resources Corp. (NYSE:TRGP) also increased its shipments by 19.9% annually to transport 499,500 barrels of NGLs per day.

Targa Resources Corp. (NYSE:TRGP) pays a 35 cent dividend for a 1.93% yield. It has a $16.44 billion market capitalization.

Stuart J. Zimmer’s Zimmer Partners is Targa Resources Corp. (NYSE:TRGP)’s largest investor through a $185 million stake that comes via 3 million shares.

9. Pembina Pipeline Corporation (NYSE:PBA)

Market Capitalization as of November 12, 2022: $19.33 billion

Pembina Pipeline Corporation (NYSE:PBA) transmits heavy oils and other similar products. It also provides equipment to other companies for storing and fractionating fuels. It is headquartered in Calgary, Canada.

Pembina Pipeline Corporation (NYSE:PBA) handled a whopping 3.4 million barrels of oil equivalent per day in its third quarter, with the reading remaining relatively flat over the year. The firm also has a stable business model, since more than 80% of its contracts are fixed and long term in nature, with typical time periods ranging between five to ten years.

As of November 12, 2022, Pembina Pipeline Corporation (NYSE:PBA) had a $19.33 billion market capitalization.

Pembina Pipeline Corporation (NYSE:PBA)’s largest investor is Jim Simons’ Renaissance Technologies which owns 631,212 shares that are worth $22 million.

8. ONEOK, Inc. (NYSE:OKE)

Market Capitalization as of November 12, 2022: $28.89 billion

ONEOK, Inc. (NYSE:OKE) is a natural gas midstream company. The firm gathers, stores, processes, and transports the fuel all over the U.S. It is based in Tulsa, Oklahoma.

ONEOK, Inc. (NYSE:OKE) has a strong dividend coverage ratio of 1.6x for this year and 1.8x for 2023, despite the fact that it is one of the smaller players in its industry. The firm’s exclusive focus on natural gas and the fact that its contracts are tied to prices are slated to benefit it during the current environment that is seeing U.S. gas companies replace Russia as Europe’s primary natural gas supplier.

Additionally, ONEOK, Inc. (NYSE:OKE) has a strong dividend yield of 5.78% through paying a 93 cent dividend, while the market values it at a whopping $28.89 billion.

ONEOK, Inc. (NYSE:OKE)’s largest investor is Ken Griffin’s Citadel Investment Group which owns 682,050 shares that are worth $37 million.

7. MPLX LP (NYSE:MPLX)

Market Capitalization as of November 12, 2022: $34 billion

MPLX LP (NYSE:MPLX) stores and transports both natural gas and crude oil. The firm operates all over the globe and it is based in Findlay, Ohio.

MPLX LP (NYSE:MPLX) is expanding its pipeline infrastructure in the Permian basin area, which it currently serves through the Whistler pipeline that has a capacity of 2 billion cubic feet per day. The company is aiming to grow this to 2.5 million cubic feet, during a time when global interest in natural gas is at its highest in recent years.

MPLX LP (NYSE:MPLX) has a $34 billion market capitalization and it pays a 78 cent dividend for a strong 9.14% yield.

6. Energy Transfer LP (NYSE:ET)

Market Capitalization as of November 12, 2022: $37.67 billion

Energy Transfer LP (NYSE:ET) has more than 30,000 miles of natural gas and natural gas transportation pipelines under its wing. The firm operates in several different American states and cities, such as Texas, Pennsylvania, Oklahoma, and Ohio. It is headquartered in Dallas, Texas.

Energy Transfer LP (NYSE:ET) is the world’s largest natural gas liquid exporter, as the company is responsible for supplying a stunning 20% of the global market. The ongoing boom in the energy market has also helped the company’s balance sheet, as while its debt levels have stayed constant, the debt to operating income ratio is currently 3.96x, which is at the bottom end of its five year range.

Energy Transfer LP (NYSE:ET) pays a 27 cent dividend for a 8.69% yield. It has a $37.67 billion market capitalization.

Energy Transfer LP (NYSE:ET)’s largest investor is David Abrams’ Abrams Capital Management which owns 22 million shares that are worth $220 million.

Energy Transfer LP (NYSE:ET) joins Enterprise Products Partners L.P. (NYSE:EPD), Enbridge Inc. (NYSE:ENB), and TC Energy Corporation (NYSE:TRP) in the list of some of the biggest midstream companies out there.

Click to continue reading and see 5 Biggest Midstream Companies Heading into 2023.

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

The AI infrastructure supercycle
The onshoring boom driven by Trump-era tariffs
A surge in U.S. LNG exports
And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

Access to our Detailed Report on our AI, Tariffs, and Nuclear Energy Stock with 100+% potential upside within 12 to 24 months
BONUS REPORT on our #1 AI-Robotics Stock with 10000% upside potential: Our in-depth report dives deep into our #1 AI/robotics stock’s groundbreaking technology and massive growth potential.
One New Issue of Our Premium Readership Newsletter: You will also receive one new issue per month and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.
One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149
Bonus Content: Premium access to members-only fund manager video interviews
Ad-Free Browsing: Enjoy a month of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Price Guarantee: Your renewal rate will always remain the same as long as your subscription is active.
30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!

Insider Monkey Ads

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up

15 Biggest Midstream Companies Heading into 2023

Published on November 15, 2022 at 9:34 am by Ramish Cheema in Lists, News

15 Biggest Midstream Companies Heading into 2023

15. Hess Midstream LP (NYSE:HESM)

14. DCP Midstream, LP (NYSE:DCP)

13. Plains All American Pipeline, L.P. (NASDAQ:PAA)

12. Magellan Midstream Partners, L.P. (NYSE:MMP)

11. Western Midstream Partners, LP (NYSE:WES)

10. Targa Resources Corp. (NYSE:TRGP)

9. Pembina Pipeline Corporation (NYSE:PBA)

8. ONEOK, Inc. (NYSE:OKE)

7. MPLX LP (NYSE:MPLX)

6. Energy Transfer LP (NYSE:ET)

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Premium

Log In

Sign Up

15 Biggest Midstream Companies Heading into 2023

Published on November 15, 2022 at 9:34 am by Ramish Cheema in Lists, News

Share

15 Biggest Midstream Companies Heading into 2023

15. Hess Midstream LP (NYSE:HESM)

14. DCP Midstream, LP (NYSE:DCP)

13. Plains All American Pipeline, L.P. (NASDAQ:PAA)

12. Magellan Midstream Partners, L.P. (NYSE:MMP)

11. Western Midstream Partners, LP (NYSE:WES)

10. Targa Resources Corp. (NYSE:TRGP)

9. Pembina Pipeline Corporation (NYSE:PBA)

8. ONEOK, Inc. (NYSE:OKE)

7. MPLX LP (NYSE:MPLX)

6. Energy Transfer LP (NYSE:ET)

Share

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on June 23, 2025 at by Inan Dogan, PhD

Here’s why this is a deal you can’t afford to pass up:

A New Dawn is Coming to U.S. Stocks

Published on June 13, 2025 at by Insider Monkey Staff