Plains GP Holdings LP logo

Plains GP Holdings LP(PAGP)

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EXPLORE ADVISORIES AND THEIR HISTORY
QUALITY SIGNAL
4-STAR RATING
PASS
LAST CLOSE
$28.61
10/23/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
  • ALL
  • 1Y
  • 1M
  • 1W
  • BUY Advisory
  • SELL Advisory (Profit)
  • SELL Advisory (Loss)
  • Profit
  • Loss
  • PASS (Skip)
Upturn Stock price based on last close iconStock price based on last close
Simulated performance—not actual client returns. Excludes advisory subscription fees, trading commissions, and taxes, which would reduce returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for full methodology, assumptions, and limitations.

Advisory Performance History (Simulated)Advisory Performance History info

Simulated performance—not actual client returns. Excludes advisory subscription fees, trading commissions, and taxes, which would reduce returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for full methodology, assumptions, and limitations.

Upturn Advisory & Investor View for PAGP

10/23/2026: PAGP (4-star) is currently NOT-A-BUY. Pass it for now.

Plains GP Holdings LP is a midstream energy company that manages essential crude oil and NGL infrastructure, primarily through its interest in Plains All American Pipeline. Its main business strength lies in its extensive pipeline network, particularly within the Permian Basin, which generates steady fee-based revenue. The primary growth opportunity involves optimizing this existing infrastructure and expanding export capacity to meet international energy needs. Key risks include regulatory scrutiny, regional production shifts, and the long-term energy transition away from fossil fuels. The stock is best suited for income-focused investors who value reliable dividend distributions and lower relative volatility, though it is essential to monitor management's ongoing deleveraging progress.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company is a mature midstream operator and is not characterized by high-growth, technology-driven expansion.
Momentum investorWeak fitPAGP tends to be a low-beta, steady income-generating stock rather than a high-momentum volatility play.
Value investorStrong fitThe company is often viewed as reasonably valued relative to its cash flow generation and dividend yield.
Dividend investorStrong fitConsistent dividend payments and a focus on cash flow stability make it attractive for income-seeking portfolios.
Low-risk investorStrong fitIts fee-based, regulated-like business model provides lower volatility compared to pure-play exploration and production companies.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMediumWhile fee-based, the volume of energy transported is tied to commodity production levels.
Valuation riskLowThe stock typically trades in line with stable utility-like valuation multiples.
Competition risk (Energy Midstream)Medium / highIntense competition for pipeline utilization and contract renewals can pressure margins.
Business qualityStrongThe company owns essential, difficult-to-replicate infrastructure assets.
Dividend incomeLowDividends are supported by relatively predictable cash flows, though they remain subject to board discretion.
Execution riskMediumOperational delays or cost overruns in maintenance and expansion projects can impact short-term performance.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Very Smooth
PRICE STABILITY

Very Smooth

The stock has followed a highly orderly price path with minimal short-term disruption.

Analysis of Past Performance

Type Stock
Historic Profit 9.82%
Avg. Invested days 51
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 2.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 10/23/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
PAGP receives a 3-star rating, supported by solid company fundamentals. The rating is constrained by soft unit economics, weak price momentum, and limited analyst upside.

Company Fundamentals

★★★★★
PAGP has solid overall fundamentals (4 stars), with moderate financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, strong earnings growth (+152.4%) and solid cash generation (FCF margin 5.2%) are partially offset by negative revenue growth (-11.6%), soft profitability (net margin 0.6%), modest insider ownership of 2.77%.

Financial Health Rating

★★★★★
PAGP's financial health is supported by strong cash strength, including free-cash-flow generation of $2.3B (5.2% of revenue). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Earnings growth is PAGP's strongest growth driver at +152.4% FY2025 versus FY2024 (strong, 5 stars). By comparison, free-cash-flow growth (+24.1%, solid) is also solid, while revenue growth (-11.6%, negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 84.5% and approximately 97.1% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 2.77% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

Tortoise Midstream Energy Fund, Inc. 5.62%
Energy Income Partners, LLC 4.57%
Massachusetts Financial Services Company 4.51%
Chickasaw Capital Management, LLC 4.36%
Two Sigma Investments LLC 3.64%

Unit Economics (Per $1K Revenue)

★★★★★
PAGP generates approximately $60 of gross profit, $32 of operating income, and $52 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Weak margins explain the 2-star rating, with solid cash conversion and moderate capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: 6.59%

Quantitative Style Profile

★★★★★
PAGP has a liquid, relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 6.66B USD
Price to earnings Ratio 65.01
1Y Target Price 26.46
Price to earnings Ratio 65.01
1Y Target Price 26.46
Volume (30-day avg) 1.8M shares
Beta 0.52
52 Weeks Range 16.01 - 28.73
Updated Date 10/25/2026
52 Weeks Range 16.01 - 28.73
Updated Date 10/25/2026
Dividends yield (FY) 5.85%
Basic EPS (TTM) 0.44

How Company Makes Money

Business areaWhat it includesRetail investor read
Crude Oil Gathering & TransportationPipelines and storage terminals for moving oil from production basins to market.The company collects fees for the volume of oil that flows through its massive network of pipes.
NGL ServicesFractionation and terminal services for natural gas liquids.Revenue is earned by processing and moving liquid energy products required for industrial and heating use.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 65.01
Forward PE 12.06
Enterprise Value 12.01B
Price to Sales(TTM) 0.13
Enterprise Value 12.01B
Price to Sales(TTM) 0.13
Enterprise Value to Revenue 0.25
Enterprise Value to EBITDA 4.55
Shares Outstanding 197.90M
Shares Floating 192.12M
Shares Outstanding 197.90M
Shares Floating 192.12M
Percent Insiders 2.77
Percent Institutions 84.47

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

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