How many subsidiaries does Targa Resources Corp. file with the SEC?

12, listed in its most recent exhibit 21. All of them are incorporated in Delaware. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Targa Resources Corp. financially healthy?

Targa Resources Corp. scores 5 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Targa Resources Corp.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

Targa Resources Corp. (TRGP)

NYSE · Common Stock · Natural Gas Transmission

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

12 entities across 1 jurisdiction. Read directly from the company’s own 10-K EX-21 filed 2026-02-19 — see the exhibit.

Which other public companies file entities in the same places:

Delaware12

Subsidiaries of Targa Resources Corp. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Grand Prix Pipeline LLC	Delaware
Lasso Acquiror LLC	Delaware
Targa Downstream LLC	Delaware
Targa GP Inc.	Delaware
Targa Midstream Services LLC	Delaware
Targa Northern Delaware LLC	Delaware
Targa Pipeline Mid-Continent Holdings LLC	Delaware
Targa Pipeline Operating Partnership LP	Delaware
Targa Pipeline Partners LP	Delaware
Targa Resources LLC	Delaware
Targa Resources Operating LLC	Delaware
Targa Resources Partners LP	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 8

PASSReturn on assets positiveROA 7.6%
PASSOperating cash flow positiveOCF 3.9B
PASSReturn on assets improving5.8% → 7.6%
PASSCash flow exceeds earningsOCF 3.9B vs NI 1.9B
FAILLong-term debt ratio falling62.3% → 69.1% of assets
FAILCurrent ratio improving0.72 → 0.67
PASSNo share dilution221M → 217M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.72× → 0.68×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$8.3B	−$1.6B	$792.9M	—	232,200,000
FY2021	$16.9B	$71.2M	$1.8B	—	228,600,000
FY2022	$20.9B	$1.2B	$1.0B	—	231,100,000
FY2023	$16.1B	$1.3B	$826.2M	—	226,000,000
FY2024	$16.4B	$1.3B	$683.9M	—	221,300,000
FY2025	$17.0B	$1.9B	$584.1M	—	216,900,000

Ownership flow

1 institutions tracked — 1 added, 0 reduced.

Institutional holders of Targa Resources Corp. and their share-count change
Manager	Kind	Shares	Change	Value
GEODE CAPITAL MANAGEMENT, LLC	Index	6,083,486	+75,162	$1.6B

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Dividend per share

2026Q2: $1.25
2026Q1: $1.00
2025Q3: $1.00
2025Q2: $1.00
2025Q1: $0.75
2024Q3: $0.75

Identity

CIK: 0001389170
LEI: 5493003QENHHS261UR94
FIGI: BBG0015XMW40
SIC: 4922 · Natural Gas Transmission
Headquarters: HOUSTON, TX

Ownership

Institutional: 97.5%
Institutions: 1,489
Insiders: 1.4%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other natural gas transmission companies

Targa Resources Corp. files under SIC 4922 — all 10 natural gas transmission companies compared on assets and F-score.

Energy Transfer LPET ENTERPRISE PRODUCTS PARTNERS L.P.EPD KINDER MORGAN, INC.KMI WILLIAMS COMPANIES, INC.WMB DT Midstream, Inc.DTM Kinetik Holdings Inc.KNTK

Dealer positioning — end of day

Where dealer gamma sat in TRGP’s option chain after the close on 2026-09-01, aggregated from the full chain. This is a once-a-day snapshot, not a live read — 268 contracts.

Net gamma (per 1% move): $8.0M
Gamma flip: 240
Call wall: 290
Put wall: 210
Spot at capture: 293.65

Computed from the listed option chain by my own aggregation, once, after the close — it describes where positioning sat that evening and does not update through the next session. The version that rebuilds per strike while the market is open is the intraday gamma product. Not investment advice.

Questions about Targa Resources Corp.

How many subsidiaries does Targa Resources Corp. file with the SEC?: 12, listed in its most recent exhibit 21. All of them are incorporated in Delaware. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Targa Resources Corp. financially healthy?: Targa Resources Corp. scores 5 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Targa Resources Corp.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.