NO! Absolutely not! Yes, the Twilight books were entertaining, but Tolkien did more than just churn out simple books meant to briefly entertain his audience. He invented complete languages, for crying out loud!
Their styles are inherently different. Not just their writing styles (Tolkien's being far more scholarly), but their mental approach to their stories. Tolkien created his 'world' first and wrote the stories from that. Meyer has stated that her characters and story world are basically created as she goes, meaning that she doesn't create something until it's needed. Her stories, characters, and 'world' are superficial, whereas Tolkien's is so unbelievably complex we're still discovering new things about his stories.
Meyer is a successful author who has made a killing selling her stories for entertaining. But that's all it is. Besides making the vampire romance story more popular, Meyer hasn't done anything that hasn't been done before.
I'm sorry if I'm being overly critical, I'm really not trying to rip Meyer a new one. I like Twilight as much as anyone. But she doesn't belong in the same class as Tolkien.