Plains GP (PAGP)
Public holding partnership with an indirect stake in PAA's crude-oil system.
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Offers public-market exposure to Plains All American Pipeline through an indirect ownership and governance stake. Its cash flow comes from PAA, a North American crude-oil midstream system, while PAGP owns no operating assets directly.
Created in 2013, the public holding partnership gives investors an indirect limited-partner stake in Plains All American Pipeline (PAA) and a non-economic controlling general-partner interest.
PAA operates a North American crude-oil midstream system, while PAGP has no direct operating assets. PAGP's public ownership and governance roles sit above the operating business.
The Plains organization sold its Canadian NGL business in 2026 after acquiring the EPIC crude system, renamed Cactus III, in 2025. These transactions shifted the asset base toward crude oil. Cash flow to PAGP comes through its indirect PAA investment via AAP.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 21, 2026 | Mizuho Securities | Target | Target: $27 | Target: $30 |
| Sep 21, 2026 | Barclays | Reiterate | Rating: —Target: $23 | Target: $24 |
| Aug 18, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $26 | Target: $28 |
| Jul 16, 2026 | Barclays | Reiterate | Rating: —Target: $21 | Target: $23 |
| Jun 8, 2026 | Mizuho Securities | Target | Target: $23 | Target: $27 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.06B · Total debt $8.64B · Total assets $30.23B · Shareholders' equity $1.58B
- Revenue
- $17.69B
- Operating income
- $397.0M
- Net income
- $389.0M
HistoryDividendAnnual yield
| Institutions | 80.92% | 160.14M shares | |
|---|---|---|---|
| 362 holders · as of Jun 30, 2026 | |||
| Insiders | 0.46% | 915.5K shares | |
| 9 holders · as of Sep 10, 2026 | |||
| Other | 18.62% | 36.85M shares | |
| remainder | |||
197.90M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Tortoise Capital Advisors, L.L.C.Institution | 5.62% | 11.12M | as of Jun 30, 2026 |
Energy Income Partners, LLCInstitution | 4.57% | 9.05M | as of Jun 30, 2026 |
Massachusetts Financial Services Co /MA/Institution | 4.51% | 8.93M | as of Jun 30, 2026 |
Chickasaw Capital Management LLCInstitution | 4.36% | 8.63M | as of Jun 30, 2026 |
Two Sigma Investments, LPInstitution | 3.64% | 7.20M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Plains GP | $26.79 | −0.30% | $5.32B | 9.6 | 15.4 | 0.1 | +66.3% |
| Enterprise Products Partners | $37.78 | −0.61% | $82.24B | 13.2 | 12.4 | 1.4 | +60.8% |
| Energy Transfer | $20.58 | +0.86% | $70.20B | 12.7 | 12.6 | 0.7 | +78.4% |
| Enbridge | $47.89 | −0.03% | $104.60B | 23.4 | 23.1 | 1.6 | +89.7% |
| MPLX | $58.43 | −1.23% | $60.03B | 12.7 | 12.7 | 4.7 | +10.6% |
| ONEOK | $91.36 | +1.41% | $56.77B | 15.5 | 15.4 | 1.4 | +52.8% |
| Kinder Morgan | $31.68 | +1.31% | $69.63B | 20.0 | 21.4 | 3.9 | +10.8% |
| Median | 14.4 | 14.1 | 1.5 | +56.8% |