Plains GP Holdings (PAGP) AI Stock Analysis

• Market Cap: $14.34B
• Dividend Yield: 7.64%
• Average Volume (3M): 1.33M
• Price to Earnings (P/E): 27.5
• Beta (1Y): 0.48
• Revenue Growth: -4.31%
• EPS Growth: -16.62%
• Country: US
• Employees: 5,000
• Sector: Energy
• Sector Strength: 43
• Industry: Oil & Gas Midstream
• EPS (TTM): 0.15
• Shares Outstanding: 197,743,620
• 10 Day Avg. Volume: 1,627,749
• 30 Day Avg. Volume: 1,330,859
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.75
• Enterprise Value/Revenue: 0.52
• Enterprise Value/Gross Profit: 1.76
• Enterprise Value/Ebitda: 9.15
• 1Y Price Target: $20.75
• Price Target Upside: 8.81% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 9

• Rating: 62 Neutral
• Price Target: $20.00 ▲(4.88% Upside)

Plains GP Holdings' overall stock score reflects a mixed financial performance with strong operational efficiency but challenges in profitability and revenue growth. The technical analysis suggests a lack of strong momentum, while the valuation indicates potential overvaluation offset by a strong dividend yield. The earnings call provided positive strategic insights but highlighted some operational challenges.

Plains GP Holdings Business Overview & Revenue Model

Company Description

Plains GP Holdings (PAGP) is a publicly traded master limited partnership that operates in the energy sector, primarily focused on providing midstream logistics services for the transportation, storage, and marketing of crude oil, natural gas liquids, and refined products. The company operates an extensive network of pipelines, terminals, and storage facilities across North America, facilitating the efficient movement of hydrocarbons from production sites to end-users. PAGP's operations are crucial for maintaining the supply chain in the energy sector, ensuring that producers and consumers can engage in seamless transactions.

How the Company Makes Money

Plains GP Holdings generates revenue primarily through its midstream services, which include the transportation and storage of crude oil and natural gas liquids. The company earns fees based on the volume of products transported and stored, providing a stable income stream. Key revenue streams include fees from long-term transportation contracts, which offer predictable cash flows, as well as spot market transactions that can yield higher returns during periods of increased demand. Additionally, PAGP benefits from partnerships with a range of producers and refiners, allowing it to leverage existing infrastructure and expand its service offerings. The company's financial performance is also influenced by the overall health of the energy market, including fluctuations in commodity prices and production levels.

Plains GP Holdings Financial Statement Overview

Summary

Plains GP Holdings demonstrates solid operational performance with strong cash flow generation. While revenue and operational margins are improving, the company faces challenges with high leverage. Continued focus on cost management and debt reduction could enhance financial stability and profitability.

Income Statement

Plains GP Holdings shows a stable revenue base with a slight increase in TTM revenue compared to the previous year. The gross profit margin improved significantly in the TTM period, indicating better cost management. However, the net profit margin remains low, reflecting challenges in translating revenue into net income. The EBITDA margin is healthy, showing strong operational efficiency.

Balance Sheet

The company has a high debt-to-equity ratio, which indicates significant leverage and potential financial risk. However, the return on equity has improved, suggesting better utilization of equity to generate profits. The equity ratio is low, highlighting reliance on debt financing.

Cash Flow

Plains GP Holdings demonstrates strong cash flow generation, with a healthy operating cash flow to net income ratio. The free cash flow has grown steadily, indicating effective cash management and investment strategies. The free cash flow to net income ratio is robust, reflecting efficient conversion of profits into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	47.80B	50.07B	48.71B	57.34B	42.04B	23.29B
Gross Profit	14.24B	3.49B	3.13B	3.20B	2.80B	2.20B
EBITDA	2.73B	2.68B	3.05B	2.78B	1.91B	-1.51B
Net Income	136.00M	103.00M	198.00M	168.00M	60.00M	-568.00M
Balance Sheet
Total Assets	28.30B	27.76B	28.60B	29.21B	29.98B	25.95B
Cash, Cash Equivalents and Short-Term Investments	460.00M	349.00M	453.00M	404.00M	452.00M	25.00M
Total Debt	8.80B	7.93B	8.03B	8.82B	9.64B	10.61B
Total Liabilities	14.18B	13.44B	13.63B	14.57B	15.80B	14.76B
Stockholders Equity	18.77B	1.35B	1.55B	14.64B	1.53B	1.48B
Cash Flow
Free Cash Flow	2.10B	1.84B	2.14B	1.95B	1.66B	772.00M
Operating Cash Flow	2.44B	2.48B	2.72B	2.40B	1.99B	1.51B
Investing Cash Flow	-1.52B	-875.00M	-702.00M	-526.00M	386.00M	-1.09B
Financing Cash Flow	-1.33B	-1.70B	-1.97B	-1.93B	-1.98B	-430.00M

Plains GP Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAGP, the sentiment is Positive. The current price of 19.07 is below the 20-day moving average (MA) of 19.31, above the 50-day MA of 19.02, and above the 200-day MA of 18.76, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 47.61 is Neutral, neither overbought nor oversold. The STOCH value of 20.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PAGP.

Plains GP Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HESM	80 Outperform	$8.78B	15.52	52.91%	6.72%	9.02%	17.28%
AM	78 Outperform	$8.74B	19.42	21.65%	4.95%	7.09%	17.53%
WES	77 Outperform	$14.55B	11.74	38.42%	9.23%	7.11%	-16.14%
DTM	75 Outperform	$10.50B	27.79	8.48%	3.00%	15.28%	-9.99%
PAA	69 Neutral	$12.42B	19.53	8.34%	8.20%	-4.31%	-17.80%
Sector *	65 Neutral	$14.83B	8.53	3.10%	5.45%	4.59%	-62.54%
PAGP	62 Neutral	$14.34B	27.47	8.16%	7.64%	-4.31%	-16.62%

Plains GP Holdings Corporate Events

Plains GP Holdings Reports Strong Q2 2025 Results

On August 8, 2025, Plains GP Holdings reported solid second-quarter results for 2025, with a net income of $210 million and net cash from operating activities of $694 million. The company announced the divestiture of its Canadian NGL business for $3.75 billion USD, expected to close in the first quarter of 2026, which will enhance its financial flexibility and streamline operations. Additionally, Plains acquired an additional 20% interest in BridgeTex Pipeline Company, strengthening its position in the Permian Basin.

The most recent analyst rating on (PAGP) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Plains GP Holdings stock, see the PAGP Stock Forecast page.

Plains GP Holdings Sells Canadian NGL Business

On June 17, 2025, Plains All American Pipeline, L.P., a subsidiary of Plains GP Holdings, announced a definitive agreement to sell its Canadian NGL business to Keyera Corp. for approximately C$5.15 billion. The transaction, expected to close in the first quarter of 2026, will allow Plains to retain its NGL assets in the U.S. and all crude oil assets in Canada. This strategic move positions Plains as a premier crude oil midstream entity, enhancing its financial flexibility and free cash flow profile while reducing commodity exposure and working capital requirements. The proceeds will support capital allocation strategies, including potential acquisitions and unit repurchases.

The most recent analyst rating on (PAGP) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Plains GP Holdings stock, see the PAGP Stock Forecast page.

Plains GP Holdings Holds Successful Annual Shareholder Meeting

On May 21, 2025, Plains GP Holdings held its annual meeting for Class A, B, and C shareholders, where key decisions were made regarding the election of four Class II directors, the ratification of PricewaterhouseCoopers LLP as the independent accounting firm for 2025, and the approval of 2024 executive compensation. The meeting saw significant shareholder participation, with approximately 83.2% of shares represented, and all proposals received strong support, indicating shareholder confidence in the company’s governance and strategic direction.

The most recent analyst rating on (PAGP) stock is a Buy with a $20.00 price target. To see the full list of analyst forecasts on Plains GP Holdings stock, see the PAGP Stock Forecast page.