Plains GP Holdings (PAGP) AI Stock Analysis

• Market Cap: $14.12B
• Dividend Yield: 8.15%
• Average Volume (3M): 1.40M
• Price to Earnings (P/E): 21.2
• Beta (1Y): 0.52
• Revenue Growth: -7.53%
• EPS Growth: 11.27%
• Country: US
• Employees: 5,000
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Midstream
• EPS (TTM): 0.41
• Shares Outstanding: 197,888,120
• 10 Day Avg. Volume: 1,216,146
• 30 Day Avg. Volume: 1,402,281
• 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: 1.81
• Enterprise Value/Revenue: 0.55
• Enterprise Value/Gross Profit: 8.68
• Enterprise Value/Ebitda: 9.22
• 1Y Price Target: $20.00
• Price Target Upside: 7.18% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 7
• EPS Forecast (FY): 1.56
• Revenue Forecast (FY): $47.76B

• Rating: 68 Neutral
• Price Target: $19.00 ▲(1.82% 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.

Positive Factors

Cash Flow Generation

Strong cash flow generation indicates efficient operations and provides financial flexibility for investments and debt management.

Strategic Divestment

The divestment allows PAGP to streamline operations and focus on core crude oil midstream services, reducing commodity exposure.

Financial Stability

A strong balance sheet with low leverage enhances financial stability, reducing risk and supporting growth initiatives.

Negative Factors

Revenue Decline

Declining revenue growth can impact profitability and suggests challenges in maintaining market share or pricing power.

NGL Segment Challenges

Challenges in the NGL segment highlight operational risks and potential volatility in earnings from this business line.

Cautious Guidance

Cautious guidance reflects uncertainty in future performance, potentially impacting investor confidence and strategic planning.

Plains GP Holdings Business Overview & Revenue Model

Company Description

Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream energy infrastructure in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks. As of December 31, 2021, this segment owned and leased assets comprising 18,300 miles of crude oil and NGL pipelines and gathering systems; 38 million barrels of above-ground tank capacity; and 1,275 trailers. It engages in the provision of storage, terminalling, and throughput services primarily for crude oil, NGLs, and natural gas; NGL fractionation and isomerization services; and natural gas and condensate processing services. As of December 31, 2021, this segment owned and operated approximately 74 million barrels of crude oil storage capacity; 28 million barrels of NGL storage capacity; four natural gas processing plants; a condensate processing facility; nine fractionation plants; 16 NGL rail terminals; four marine facilities; and 110 miles of pipelines. As of December 31, 2021, this segment owned 15 million barrels of crude oil and 2 NGL linefill; 3 million barrels of crude oil and 1 NGL linefill in pipelines owned by third parties and other inventory; 640 trucks and 1,275 trailers; and 3,900 NGL railcars. The company offers logistics services to producers, refiners, and other customers. PAA GP Holdings LLC operates as a general partner of the company. Plains GP Holdings, L.P. was incorporated in 2013 and is headquartered in Houston, Texas.

How the Company Makes Money

Plains GP Holdings generates revenue primarily through its midstream services, which include the transportation of crude oil and natural gas liquids via pipelines and gathering systems. The company earns fees based on the volume of product transported and stored, which are typically structured as take-or-pay contracts, ensuring a stable revenue stream. Key revenue streams include transportation fees, storage fees, and terminal services. Additionally, PAGP benefits from long-term contracts with major oil and gas producers, providing a degree of revenue stability. The company also engages in joint ventures and partnerships with other companies in the energy sector, which can enhance its operational capabilities and expand its market reach, further contributing to its earnings.

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	2.94B	3.49B	3.13B	3.20B	2.80B	2.20B
EBITDA	2.77B	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	1.18B	349.00M	453.00M	404.00M	456.00M	63.00M
Total Debt	9.64B	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	1.34B	1.35B	1.55B	1.52B	1.53B	1.46B
Cash Flow
Free Cash Flow	2.19B	1.84B	2.14B	1.95B	1.66B	772.00M
Operating Cash Flow	2.87B	2.48B	2.72B	2.40B	1.99B	1.51B
Investing Cash Flow	-1.76B	-875.00M	-702.00M	-526.00M	386.00M	-1.09B
Financing Cash Flow	-573.00M	-1.70B	-1.97B	-1.93B	-1.98B	-430.00M

Plains GP Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 18.66
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

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 18.66 is above the 20-day moving average (MA) of 17.82, above the 50-day MA of 17.55, and above the 200-day MA of 18.29, indicating a bullish trend. The MACD of 0.30 indicates Negative momentum. The RSI at 74.86 is Negative, neither overbought nor oversold. The STOCH value of 88.31 is Negative, 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	$8.63B	18.58	22.52%	4.96%	8.70%	21.42%
WES	78 Outperform	$16.05B	11.64	40.29%	9.17%	5.81%	-13.58%
DTM	75 Outperform	$12.35B	30.80	9.04%	2.91%	20.39%	-3.85%
PAA	72 Outperform	$12.28B	14.12	9.78%	8.69%	-7.53%	9.74%
HESM	72 Outperform	$6.99B	11.97	59.81%	8.63%	10.78%	19.10%
PAGP	68 Neutral	$14.12B	21.16	10.33%	8.15%	-7.53%	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.