PAGP Stock - Plains GP Holdings, L.P.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $50.07B | $48.71B | $57.34B | $42.08B | $23.29B |
| Gross Profit | $3.49B | $3.13B | $3.20B | $2.80B | $2.20B |
| Gross Margin | 7.0% | 6.4% | 5.6% | 6.6% | 9.5% |
| Operating Income | $1.17B | $1.50B | $1.28B | $842.00M | $-2,383,000,000 |
| Net Income | $103.00M | $198.00M | $168.00M | $60.00M | $-568,000,000 |
| Net Margin | 0.2% | 0.4% | 0.3% | 0.1% | -2.4% |
| EPS | $0.52 | $1.02 | $0.87 | $0.31 | $-3.05 |
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. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGLs). The company engages in the transportation of crude oil and NGLs on pipelines, gathering systems, and trucks. As of December 31, 2021, this segment owned and leased assets comprising 18,300 miles of crude oil and NGL pipelines and gathering systems; 38 million barrels of above-ground tank capacity; and 1,275 trailers. It engages in the provision of storage, terminalling, and throughput services primarily for crude oil, NGLs, and natural gas; NGL fractionation and isomerization services; and natural gas and condensate processing services. As of December 31, 2021, this segment owned and operated approximately 74 million barrels of crude oil storage capacity; 28 million barrels of NGL storage capacity; four natural gas processing plants; a condensate processing facility; nine fractionation plants; 16 NGL rail terminals; four marine facilities; and 110 miles of pipelines. As of December 31, 2021, this segment owned 15 million barrels of crude oil and 2 NGL linefill; 3 million barrels of crude oil and 1 NGL linefill in pipelines owned by third parties and other inventory; 640 trucks and 1,275 trailers; and 3,900 NGL railcars. The company offers logistics services to producers, refiners, and other customers. PAA GP Holdings LLC operates as a general partner of the company. Plains GP Holdings, L.P. was incorporated in 2013 and is headquartered in Houston, Texas.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| July 25th 2025 | Wolfe Research | Downgrade | Peer Perform | - |
| January 10th 2025 | Wolfe Research | Upgrade | Outperform | $22 |
| December 18th 2024 | Wells Fargo | Downgrade | Equal Weight | $20← $22 |
| October 25th 2024 | Morgan Stanley | Downgrade | Equal Weight | $19← $22 |
| April 8th 2024 | Scotiabank | Resumed | Sector Outperform | $23 |
| October 6th 2023 | Goldman | Resumed | Sell | $13.5 |
| September 25th 2023 | Barclays | Downgrade | Underweight | $15 |
| September 6th 2023 | Citigroup | Downgrade | Neutral | $15.5← $14 |
| April 21st 2023 | Raymond James | Upgrade | Strong Buy | $17← $16 |
| December 9th 2022 | Citigroup | Initiation | Buy | $14 |
| November 21st 2022 | JP Morgan | Downgrade | Neutral | $14← $15 |
| August 15th 2022 | Stifel | Upgrade | Buy | $16 |
| August 1st 2022 | Seaport Research Partners | Upgrade | Buy | $13 |
| July 19th 2022 | BofA Securities | Upgrade | Neutral | $12 |
| May 12th 2022 | Credit Suisse | Upgrade | Outperform | $14← $13 |
Earnings History & Surprises
PAGPEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 7, 2026 | — | — | — | — |
Q1 2026 | Feb 6, 2026 | $0.56 | — | — | — |
Q4 2025 | Nov 5, 2025 | $0.42 | $0.31 | -26.2% | ✗ MISS |
Q3 2025 | Aug 8, 2025 | $0.44 | $0.05 | -88.6% | ✗ MISS |
Q2 2025 | May 9, 2025 | $0.41 | $0.42 | +2.4% | ✓ BEAT |
Q1 2025 | Feb 7, 2025 | $0.35 | $-0.05 | -114.3% | ✗ MISS |
Q4 2024 | Nov 8, 2024 | $0.38 | $0.17 | -55.7% | ✗ MISS |
Q3 2024 | Aug 2, 2024 | $0.31 | $0.20 | -35.5% | ✗ MISS |
Q2 2024 | May 3, 2024 | $0.26 | $0.21 | -19.2% | ✗ MISS |
Q1 2024 | Feb 9, 2024 | $0.33 | $0.27 | -18.2% | ✗ MISS |
Q4 2023 | Nov 3, 2023 | $0.24 | $0.15 | -37.5% | ✗ MISS |
Q3 2023 | Aug 4, 2023 | $0.14 | $0.25 | +78.6% | ✓ BEAT |
Q2 2023 | May 5, 2023 | $0.13 | $0.35 | +169.2% | ✓ BEAT |
Q1 2023 | Feb 8, 2023 | $0.31 | $0.23 | -25.8% | ✗ MISS |
Q4 2022 | Nov 2, 2022 | $0.17 | $0.36 | +111.8% | ✓ BEAT |
Q3 2022 | Aug 3, 2022 | $0.19 | $0.16 | -15.8% | ✗ MISS |
Q2 2022 | May 4, 2022 | $0.42 | $0.11 | -73.8% | ✗ MISS |
Q1 2022 | Feb 9, 2022 | $0.22 | $0.43 | +95.5% | ✓ BEAT |
Q4 2021 | Nov 2, 2021 | $0.17 | $-0.12 | -170.6% | ✗ MISS |
Q3 2021 | Aug 3, 2021 | $0.29 | $-0.35 | -220.7% | ✗ MISS |
Latest News
Morgan Stanley Maintains Equal-Weight on Plains GP Holdings, Raises Price Target to $22
➖ NeutralUPDATE: Plains GP Holdings Q3 EPS From Cont. Ops. $0.31 Misses $0.38 Estimate,
📉 NegativePlains GP Holdings Q3 EPS $0.42 Beats $0.38 Estimate, Sales $11.578B Miss $12.117B Estimate
➖ NeutralRaymond James Maintains Strong Buy on Plains GP Holdings, Lowers Price Target to $22
📈 PositiveBarclays Maintains Underweight on Plains GP Holdings, Lowers Price Target to $17
📉 NegativeJP Morgan Maintains Neutral on Plains GP Holdings, Lowers Price Target to $20
➖ NeutralPlains All American Pipeline And Plains GP Holdings To Acquire 55% Interest In EPIC Crude Holdings, LP From Diamondback And Kinetik Subsidiaries; Transaction Valued At ~$1.57B Inclusive Of $600M In Debt, Plains Agrees To Potential $193M Earnout
📈 PositiveMorgan Stanley Maintains Equal-Weight on Plains GP Holdings, Lowers Price Target to $20
📉 NegativeFrequently Asked Questions about PAGP
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