Reading the tape
NASDAQ: PAGP
Plains GP Holdings, L.P.
Energy · Oil & Gas Midstream
Market Cap
$4.80B
52w High
$24.76
52w Low
$16.68
P/E
18.52
Volume
2.30M
Outstanding Shares
197.90M
Valuation Data Insufficient
The DCF model's fair value estimate is more than 3× the current stock price. This typically indicates unreliable model inputs — such as irregular cash flows or balance sheet distortions — rather than a genuine opportunity, so the valuation is not shown.
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 40.55%Revenue (TTM): -10.22%FCF (TTM): 23.16%P/FCF: 28th pct
What changed
The stock rose 40.55% over the last year. Revenue declined 10.22% over the trailing twelve months. Operating margin moved from 2.27% to 3.59%. Free cash flow grew 23.16% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 3.59%. A decisive move in revenue — currently down 10.22% — would be the clearest signal to resolve the ambiguity.
Company profile
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.
CEOWilfred Chiang
SectorEnergy
IndustryOil & Gas Midstream
Employees5,000
IPO dateOct 16, 2013
Valuation
Forward P/E—
EV/EBITDA5.31
Enterprise value$14.95B
Stock splits
Nov 16, 2016↓ Reverse
Every 8 shares became 3
Profitability & growth
Revenue growth-14.81%
Gross margin6.82%▼13.22%vs FY2024
Operating margin3.59%▲37.84%vs FY2024
ROE19.33%▲153.55%vs FY2024
Analyst consensus
RatingBuy
Target price$22.75▼6.11%
18
Buy
9
Hold
2
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 8, 2026
Q2 FY26 · EPS est $0.62 · Revenue est $11.72B
View
Dividends
$1.60/shareQuarterly5yr growth streakAt RiskPAGP pays a dividend with a 6.58% dividend yield, 5 consecutive years of growth, growing at 17.25% annually, covered 7.6× by free cash flow.
Dividend Yield
6.58%
Annual Div / Share
$1.60
5yr CAGR
+17.25%
Doubles every ~4.4yr
Payout Ratio
116.22%
At Risk
Dividend Growth Rate
3yr CAGR
+18.04%
5yr CAGR
+17.25%
10yr CAGR
-4.21%
Dividend Safety
6/10At Risk
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$1.60+14.4%
2025$1.40+19.2%
2024$1.17+20.6%
2023$0.97+28.1%
2022$0.76+5.2%
2021$0.72-42.9%
2020$1.26+0.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$66/yr
$5/mo
In 5 yrs
$116/yr+76%
$10/mo
In 10 yrs
$205/yr+211%
$17/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$66/yr $5/mo | $116/yr+76% $10/mo | $205/yr+211% $17/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 6.58% → 20.45% over 10yr
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 7.6× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 17.25% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
High payout ratio
With 116.22% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.