PAGP
Plains GP Holdings, L.P.
PAGP lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to decline, though they disagree widely on how much.
PAGP Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Stable | |
| Under pressure |
PAGP's revenue is currently strong, and its profitability and cash flow are stable, but its balance sheet is under pressure.
PAGP PE Valuation
PAGP has no meaningful PE right now: it lost money over the past year.
PAGP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Decline | |
| Growth | |
| Weakening | |
| Limited | |
| Low |
Analysts expect PAGP's revenue to grow, but its earnings and profitability to decline. However, they disagree widely on these estimates.
PAGP Earnings Per Share
PAGP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $15.2B | +31% |
| Q2 2026 | $17.7B | +66% |
| Q1 2026 | $12.5B | +3.8% |
| Q4 2025 | $10.6B | -15% |
| Q3 2025 | $11.6B | -9.1% |
| Q2 2025 | $10.6B | -18% |
| Q1 2025 | $12B | +0.1% |
| Q4 2024 | $12.4B | -2.3% |
PAGP's revenue is growing: $15.2B last quarter, up 31% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.4% | -0.8 points |
| Q2 2026 | 2.2% | 0 points |
| Q1 2026 | 3.2% | -1.2 points |
| Q4 2025 | 3.4% | +2.7 points |
| Q3 2025 | 4.2% | +1.4 points |
| Q2 2025 | 2.2% | -0.6 points |
| Q1 2025 | 4.4% | +1.3 points |
| Q4 2024 | 0.7% | -2.6 points |
PAGP's operating margin was 3.4% last quarter, down 0.8 points from the same quarter a year ago.
PAGP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $533M | -16% |
| Q2 2026 | $814M | +42% |
| Q1 2026 | $288M | -36% |
| Q4 2025 | $636M | +14% |
| Q3 2025 | $632M | +19% |
| Q2 2025 | $573M | +12% |
| Q1 2025 | $447M | +71% |
| Q4 2024 | $560M | -35% |
PAGP generated $2.3B in free cash flow over the past year, up 2.7% from the year before.
PAGP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +197K shares |
| 1 year | +0.1% | +213K shares |
| 3 years | +0.9% | +1.7M shares |
| 5 years | +2% | +4M shares |
| Available history | +8.8% | +16M shares |
PAGP has 198M diluted shares, about the same as a year ago.
PAGP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.4x | Elevated |
| Q2 2026 | 2.8x | Moderate |
| Q1 2026 | 4.6x | High |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 3.6x | Elevated |
| Q2 2025 | 3.7x | Elevated |
| Q1 2025 | 3.5x | Elevated |
| Q4 2024 | 3.3x | Elevated |
PAGP's net debt is about 3.4 years of its operating earnings (EBITDA), about the same as a year ago.
PAGP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.2 | Neutral |
| Stochastic | 48.2 | Neutral |
PAGP's weekly RSI is 51 (neutral) and its Stochastic is 48 (neutral).
PAGP PE vs Energy Sector
PAGP has no meaningful PE right now: it lost money over the past year.
PAGP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $27.0 | 3% below |
| 20 week MA | $26.6 | 1.7% below |
| 50 week MA | $24.0 | 8.8% above |
| 100 week MA | $21.6 | 21% above |
| 200 week MA | $19.0 | 37% above |
PAGP has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 37% above its 200-week average.
PAGP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.2 | $9.12 | -53% |
| 2021 | $9.12 | $9.92 | +8.8% |
| 2022 | $9.92 | $12.5 | +26% |
| 2023 | $12.5 | $16.0 | +28% |
| 2024 | $16.0 | $18.1 | +14% |
| 2025 | $18.1 | $18.8 | +3.8% |
| 2026 YTD | $18.8 | $26.2 | +39% |
PAGP has finished higher in five of the last six years. It's up 39% so far in 2026.