Plains GP Holdings, L.P. (PAGP) AI Stock Analysis

Plains GP Holdings, L.P., through its subsidiary Plains All American Pipeline, L.P., operates midstream energy infrastructure across the United States and Canada. The business functions via two main segments: Crude Oil and Natural Gas Liquids (NGLs). As of December 31, 2021, its footprint encompassed 18,300 miles of pipelines and gathering systems, 38 million barrels of above-ground tank capacity, and 1,275 trailers. The company provides gathering, transportation, storage, terminalling, and throughput services, supported by approximately 74 million barrels of crude oil storage and 28 million barrels of NGL storage. It also operates four natural gas processing plants, nine fractionation plants, and related rail and marine facilities.

Annual revenue has shown cyclical swings, moving from $42.08B in FY2021 to a peak of $57.34B in FY2022 before declining to $44.26B in FY2025, representing a 5-year revenue CAGR of 13.7%. Operating margin was 2.0% in FY2021 and improved to 3.2% in FY2025, with net income rising from $60.0M to $260.0M over the same period. For the trailing twelve months ending June 30, 2026, revenue stood at $52.30B with an operating margin of 2.8% and a net profit margin of 1.1%. In the quarter ended June 30, 2026, quarterly revenue grew 66.3% year-over-year, while quarterly earnings expanded 1209.8%.

As of June 30, 2026, Plains GP Holdings held $1.06B in cash and short-term investments against total debt of $8.63B, resulting in net debt of $7.58B. Total assets were $30.23B compared to shareholders' equity of $1.58B, reflecting a debt-to-equity ratio of 5.47 and a current ratio of 1.12. In FY2025, the company generated $2.93B in operating cash flow and $2.29B in free cash flow. Capital allocation in FY2025 included $643.0M for capital expenditures, $341.0M deployed toward share buybacks, and $301.0M in dividends paid.

PAGP trades at an enterprise value of $12.86B and an EV/EBITDA multiple of 4.3x, compared to the median of 8.0x for its US-listed Energy peers. Its trailing price-to-earnings ratio is 62.4x against the peer median of 15.0x, while its forward P/E of 12.1x is slightly below the peer median of 12.7x. The company's price-to-sales multiple is 0.1x, below the peer group median of 1.8x. Over the past year, the stock gained 74.7%, outperforming the S&P 500 return of 16.8%, and delivered a 5-year return of 236.9% versus 83.0% for the index.

Plains GP Holdings has paid dividends for 13 consecutive years, with an annualized 5-year dividend growth rate of 11.1%. The stock carries an annual forward dividend of $1.67 per share, yielding 6.08% as of October 16, 2026. The payout ratio stands at 3.1%, and the last ex-dividend date was October 30, 2026.

Wall Street coverage includes 5 Strong Buy, 1 Buy, 6 Hold, and 2 Sell recommendations. The mean price target of $26.46 sits 3.6% below the October 16, 2026 closing price of $27.45. Consensus estimates project FY2026 revenue of $57.49B and EPS of $2.30, followed by FY2027 revenue of $57.31B and EPS of $2.07. Plains GP Holdings beat EPS estimates in 0 of the last 4 quarters, and its next earnings date is November 6, 2026.

This page is an AI-written research summary of Plains GP Holdings, L.P. (PAGP). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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