Plains GP Holdings (PAGP) AI Stock Analysis

• Market Cap: $13.10B
• Dividend Yield: 8.68%
• Average Volume (3M): 1.47M
• Price to Earnings (P/E): 19.7
• Beta (1Y): 0.52
• Revenue Growth: -7.50%
• EPS Growth: 11.27%
• Country: US
• Employees: 5,000
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Midstream
• EPS (TTM): 0.41
• Shares Outstanding: 197,743,620
• 10 Day Avg. Volume: 1,694,582
• 30 Day Avg. Volume: 1,468,574
• PEG Ratio: -0.72
• Price to Book (P/B): 2.68
• Price to Sales (P/S): 0.07
• P/FCF Ratio: 1.96
• Enterprise Value/Market Cap: 1.95
• Enterprise Value/Revenue: 0.55
• Enterprise Value/Gross Profit: 9.45
• Enterprise Value/Ebitda: 9.17
• 1Y Price Target: $19.75
• Price Target Upside: 12.73% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8
• EPS Forecast (FY): 1.61
• Revenue Forecast (FY): $48.28B

• Rating: 68 Neutral
• Price Target: $19.00 ▲(8.45% Upside)

Plains GP Holdings' overall stock score is driven by its strong cash flow generation and stable balance sheet, which are key strengths. The valuation is attractive due to a high dividend yield. However, mixed technical indicators and cautious earnings guidance temper the score.

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 resilience in its financial performance, with strengths in cash flow generation and a stable balance sheet. While the income statement shows some areas for improvement, particularly in profit margins, the company's ability to manage debt and generate cash flow positions it well for future growth.

Income Statement

Plains GP Holdings shows a mixed performance in its income statement. The TTM data indicates a slight decline in revenue growth, but the company maintains a positive EBIT and EBITDA margin, suggesting operational efficiency. However, the net profit margin remains low, indicating challenges in translating revenue into profit. The historical data shows fluctuating revenue growth rates, with a notable decline in 2020, but a recovery trend is visible in subsequent years.

Balance Sheet

The balance sheet reflects a strong equity position with a low debt-to-equity ratio in the TTM period, indicating financial stability. The company has improved its leverage significantly compared to previous years, reducing potential financial risks. Return on equity is moderate, showing the company's ability to generate returns on shareholders' investments, although it has decreased from previous highs.

Cash Flow

The cash flow statement reveals a robust free cash flow growth in the TTM period, highlighting the company's ability to generate cash. The operating cash flow to net income ratio is strong, indicating efficient cash generation relative to reported earnings. The free cash flow to net income ratio is also healthy, suggesting good cash conversion from profits.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	46.63B	50.07B	48.71B	57.34B	42.08B	23.29B
Gross Profit	2.71B	3.49B	3.13B	3.20B	2.80B	2.20B
EBITDA	2.79B	2.68B	3.05B	2.78B	1.91B	-1.51B
Net Income	186.00M	103.00M	198.00M	168.00M	60.00M	-568.00M
Balance Sheet
Total Assets	29.25B	27.76B	28.60B	29.21B	29.98B	25.95B
Cash, Cash Equivalents and Short-Term Investments	5.58B	349.00M	453.00M	404.00M	452.00M	25.00M
Total Debt	188.00M	7.93B	8.03B	8.82B	9.64B	10.61B
Total Liabilities	15.11B	13.44B	13.63B	14.57B	15.80B	14.76B
Stockholders Equity	12.99B	1.35B	1.55B	14.64B	1.53B	1.48B
Cash Flow
Free Cash Flow	2.40B	1.84B	2.14B	1.95B	1.66B	772.00M
Operating Cash Flow	2.56B	2.48B	2.72B	2.40B	1.99B	1.51B
Investing Cash Flow	-1.61B	-875.00M	-702.00M	-526.00M	386.00M	-1.09B
Financing Cash Flow	-246.00M	-1.70B	-1.97B	-1.93B	-1.98B	-430.00M

Plains GP Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 17.52 is above the 20-day moving average (MA) of 17.08, below the 50-day MA of 17.63, and below the 200-day MA of 18.43, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 54.97 is Neutral, neither overbought nor oversold. The STOCH value of 42.86 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
AM	78 Outperform	$8.44B	18.16	22.52%	5.08%	8.70%	21.42%
WES	78 Outperform	$15.91B	11.54	40.29%	9.25%	5.81%	-13.58%
DTM	75 Outperform	$11.59B	28.91	9.04%	2.91%	20.39%	-3.85%
PAA	72 Outperform	$11.55B	13.35	9.78%	9.14%	-7.50%	9.49%
HESM	72 Outperform	$7.04B	11.91	―	8.56%	10.78%	19.10%
PAGP	68 Neutral	$13.10B	19.69	6.41%	8.68%	-7.50%	11.27%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Plains GP Holdings Corporate Events

Plains GP Holdings Completes Acquisition of EPIC Crude Holdings

On October 31, 2025, Plains GP Holdings completed the acquisition of a 100% equity interest in EPIC Crude Holdings and EPIC GP, the operators of the EPIC Crude Oil Pipeline, for a total of approximately $2.9 billion. This strategic move positions Plains GP Holdings as the sole operator of the EPIC Pipeline, enhancing its capacity to transport crude oil from key basins to the Gulf Coast, and potentially expanding its market influence with future pipeline capacity enhancements.

The most recent analyst rating on (PAGP) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on Plains GP Holdings stock, see the PAGP Stock Forecast page.

Plains GP Holdings Reports Q3 2025 Financial Results

On November 5, 2025, Plains GP Holdings announced its third-quarter 2025 financial results, reporting a net income of $441 million and an adjusted EBITDA of $669 million. The company also completed the acquisition of a 100% equity interest in EPIC Crude Holdings, which is expected to enhance synergy capture and cost savings, and plans to rename the system Cactus III. Additionally, Plains is in the process of divesting its Canadian NGL business, which is anticipated to close by the first quarter of 2026, as part of its strategy to streamline operations and focus on crude oil midstream services.

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 Completes $1.25 Billion Debt Offering

On September 8, 2025, Plains All American Pipeline, L.P. and PAA Finance Corp. completed a public offering of $1.25 billion in debt securities. The offering included $700 million in 4.700% Senior Notes due 2031 and $550 million in 5.600% Senior Notes due 2036. These notes are senior unsecured obligations and come with specific covenants and events of default, impacting PAA’s operational flexibility and financial structure.

The most recent analyst rating on (PAGP) stock is a Hold 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 Acquires Stake in EPIC Crude

On August 30, 2025, Plains All American Pipeline, a subsidiary of Plains GP Holdings, entered into an agreement to acquire a 55% non-operated interest in EPIC Crude Holdings for approximately $1.57 billion, including $600 million of debt. This acquisition, expected to close in early 2026, aims to enhance Plains’ strategic position in the crude oil midstream sector by expanding its connectivity from the Permian and Eagle Ford basins to the Gulf Coast market. The transaction is anticipated to be immediately accretive to distributable cash flow and offers potential synergies and growth opportunities, strengthening Plains’ market access and customer service offerings.

The most recent analyst rating on (PAGP) stock is a Hold 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 Extends CEO Award Expiration to 2030

On August 14, 2025, Plains GP Holdings extended the expiration date of a long-term award for CEO Willie Chiang from October 2025 to October 2030 to incentivize his continued leadership. This decision aims to support strategic initiatives and succession planning. Additionally, special retention grants were approved for executives Jeremy Goebel and Chris Chandler to ensure their continued contributions to the company’s success, with vesting schedules extending to 2030 and 2028, respectively.

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 LP Earnings Call Highlights Strategic Moves Amid Challenges

Plains GP Holdings LP’s recent earnings call painted a picture of both strategic successes and looming challenges. The company reported solid earnings and made significant strategic moves, such as the sale of its NGL business and successful bolt-on acquisitions. However, it also faced challenges, particularly in the NGL segment’s performance and contract roll-offs, which are expected to impact future revenues. The guidance provided was on the lower end of the expected range, indicating cautious optimism for the future.

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.