Targa Resources Corp. is classed by the SEC under Natural Gas Transmission (industry code 4922), based in Houston, TX. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $17 billion and a profit of $1.9 billion (its filed statements).
Regulated utilityNatural Gas TransmissionHouston, TXfilings since 20079 of 9 filed
Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a regulated utility: prior from its industry code (SEC 4922, Natural Gas Transmission); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.
The grade, in three tenses
Headline 5.5 out of ten, 9 of 9 metrics filed: past 5.5 out of ten, present 6.0 out of ten, future 4.9 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.
The nine metrics
Surviving crises (past): 6.6 out of ten. No warning events in its filings since 2017. 66th percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Track record (past): 3.6 out of ten. +13.2% a year over 10 filed years; profitable in 7 of 10. 36th percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Shareholder treatment (past): 5.4 out of ten. Share count shrank 2.1% a year. 0% of cash flow returned. Insiders: 25 sales, 0 purchases. 54th percentile among 13 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Financial health (present): 7.3 out of ten. ROE 60%: 60¢ of profit per shareholder dollar. Leverage 87%: owes 87¢ per asset dollar. 73rd percentile among 12 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Industry position (present): 4.4 out of ten. bottom 44% of 16 in its family; net margin 11.3%. 44th percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Leadership (present): 5.5 out of ten. top 45% of 10 in its family for leadership; chief executive since 2020. 55th percentile among 10 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
Room to expand (future): 1.8 out of ten. bottom 18% of 16 in its family for room to expand. 18th percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Growth drivers (future): 4.5 out of ten. bottom 45% of 16 in its family for growth drivers. 45th percentile among 16 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
Expectations vs reality (future): 7.7 out of ten. top 23% of 15 in its family for expectations against reality. 77th percentile among 15 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
The filing record
Newest annual report: Form 10-K filed 2026-02-19 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-06 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-06 (on EDGAR). Newest filing: Form SD, 2026-09-17. Filings on record since 2007. Read from EDGAR 2026-10-12.
Where the revenue comes from
Product and service lines in fiscal 2025: Product 85%, Service 15%. As tagged in its annual report (Form 10-K, filed 2026-02-19).
Who runs it
Perkins, Joe Bob (Chief Executive Officer); Meloy, Matthew J (Chief Executive Officer); Joyce, Rene R (Exec. Chairman of the Board); Secrest, Brent B. (President - Logistics and Transportation); Branstetter, Benjamin James (President - Logistics and Transportation); Shrader, Gerald R (Executive Vice President, General Counsel and Secretary); Mcdonie, Patrick J. (President - Gathering and Processing); Pryor, D. Scott (President - Logistics and Transportation); Kneale, Jennifer R. (President); Byers, William A. (Chief Financial Officer); and 11 more. 21 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.
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