PIPR vs. TRGP
PIPR (Piper Sandler Companies) and TRGP (Targa Resources Corp.) are both stocks. PIPR operates in Capital Markets (Financial Services), while TRGP operates in Oil & Gas Midstream (Energy). Over the past 10 years, PIPR returned 25.34%/yr vs 24.97%/yr for TRGP. At a 0.37 correlation, their price movements are largely independent.
Performance
PIPR vs. TRGP - Performance Comparison
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Returns By Period
In the year-to-date period, PIPR achieves a -9.02% return, which is significantly lower than TRGP's 43.81% return. Both investments have delivered pretty close results over the past 10 years, with PIPR having a 25.34% annualized return and TRGP not far behind at 24.97%.
PIPR
- 1D
- -2.27%
- 1M
- -2.38%
- YTD
- -9.02%
- 6M
- -6.92%
- 1Y
- 21.19%
- 3Y*
- 35.06%
- 5Y*
- 22.54%
- 10Y*
- 25.34%
TRGP
- 1D
- -0.23%
- 1M
- 1.43%
- YTD
- 43.81%
- 6M
- 50.99%
- 1Y
- 62.91%
- 3Y*
- 57.77%
- 5Y*
- 44.48%
- 10Y*
- 24.97%
PIPR vs. TRGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIPR Piper Sandler Companies | -9.02% | 15.52% | 74.24% | 37.78% | -23.41% | 85.33% | 29.64% | 23.88% | -20.69% | 21.22% |
TRGP Targa Resources Corp. | 43.81% | 5.65% | 110.12% | 21.01% | 43.71% | 100.15% | -32.48% | 23.98% | -19.88% | -7.09% |
Correlation
The correlation between PIPR and TRGP is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010 | 0.37 |
Over the past year, the correlation between PIPR and TRGP has dropped to 0.08 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.
Fundamentals
PIPR:
$3.96
TRGP:
$13.11
PIPR:
19.11
TRGP:
20.03
PIPR:
1.27
TRGP:
0.22
PIPR:
2.69
TRGP:
2.60
PIPR:
$2.00B
TRGP:
$16.38B
PIPR:
$1.95B
TRGP:
$3.62B
PIPR:
$455.82M
TRGP:
$4.49B
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Return for Risk
PIPR vs. TRGP — Risk / Return Rank
PIPR
TRGP
PIPR vs. TRGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Piper Sandler Companies (PIPR) and Targa Resources Corp. (TRGP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| PIPR | TRGP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.62 | 2.30 | -1.67 |
Sortino ratioReturn per unit of downside risk | 1.05 | 2.87 | -1.82 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.35 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 0.87 | 3.88 | -3.01 |
Martin ratioReturn relative to average drawdown | 2.12 | 12.71 | -10.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PIPR | TRGP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 2.30 | -1.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 1.40 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.53 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.47 | -0.23 |
Drawdowns
PIPR vs. TRGP - Drawdown Comparison
The maximum PIPR drawdown since its inception was -76.97%, smaller than the maximum TRGP drawdown of -95.21%. Use the drawdown chart below to compare losses from any high point for PIPR and TRGP.
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Drawdown Indicators
| PIPR | TRGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.97% | -95.21% | +18.24% |
Max Drawdown (1Y)Largest decline over 1 year | -24.56% | -16.30% | -8.26% |
Max Drawdown (3Y)Largest decline over 3 years | -38.78% | -31.61% | -7.17% |
Max Drawdown (5Y)Largest decline over 5 years | -42.30% | -31.61% | -10.69% |
Max Drawdown (10Y)Largest decline over 10 years | -63.02% | -90.78% | +27.76% |
Current DrawdownCurrent decline from peak | -18.25% | -5.08% | -13.17% |
Average DrawdownAverage peak-to-trough decline | -30.63% | -33.61% | +2.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.03% | 4.97% | +5.06% |
Volatility
PIPR vs. TRGP - Volatility Comparison
The current volatility for Piper Sandler Companies (PIPR) is 7.03%, while Targa Resources Corp. (TRGP) has a volatility of 8.93%. This indicates that PIPR experiences smaller price fluctuations and is considered to be less risky than TRGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIPR | TRGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 8.93% | -1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 26.95% | 18.83% | +8.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.26% | 27.58% | +6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.24% | 32.42% | +2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.66% | 47.68% | -11.02% |
Dividends
PIPR vs. TRGP - Dividend Comparison
PIPR's dividend yield for the trailing twelve months is around 2.61%, more than TRGP's 1.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIPR Piper Sandler Companies | 2.61% | 1.68% | 1.17% | 2.09% | 5.30% | 3.81% | 1.98% | 1.88% | 4.74% | 1.45% | 0.00% | 0.00% |
TRGP Targa Resources Corp. | 1.62% | 2.03% | 1.54% | 2.13% | 1.90% | 0.77% | 4.59% | 8.92% | 10.11% | 7.52% | 6.49% | 12.53% |
Financials
PIPR vs. TRGP - Financials Comparison
This section allows you to compare key financial metrics between Piper Sandler Companies and Targa Resources Corp.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PIPR vs. TRGP - Profitability Comparison
PIPR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Piper Sandler Companies reported a gross profit of 456.39M and revenue of 475.15M. Therefore, the gross margin over that period was 96.1%.
TRGP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Targa Resources Corp. reported a gross profit of 0.00 and revenue of 4.09B. Therefore, the gross margin over that period was 0.0%.
PIPR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Piper Sandler Companies reported an operating income of 88.67M and revenue of 475.15M, resulting in an operating margin of 18.7%.
TRGP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Targa Resources Corp. reported an operating income of 846.90M and revenue of 4.09B, resulting in an operating margin of 20.7%.
PIPR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Piper Sandler Companies reported a net income of 65.24M and revenue of 475.15M, resulting in a net margin of 13.7%.
TRGP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Targa Resources Corp. reported a net income of 479.60M and revenue of 4.09B, resulting in a net margin of 11.7%.
Frequently Asked Questions
PIPR and TRGP have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRGP has higher volatility (8.93%) compared to PIPR (7.03%). In terms of maximum drawdown, PIPR dropped -76.97% vs TRGP's -95.21%.
TRGP currently has the higher Sharpe Ratio (2.30 vs 0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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