| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 90 | 10.0x | 17.8x | Top tier | |
Growth | 65 | 14.2% | 7.1% | Around median | |
Quality | 58 | 13.4% | 4.5% | Around median | |
Safety | 65 | 2.9x | 2.6x | Around median | |
Capital Return | 85 | — | 2.12% | Top tier | |
Momentum | 98 | 34.2% | 2.9% | Top tier | |
Sentiment | 72 | 5 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Plains GP Holdings LP, listed under the ticker PAGP, operates in North American energy infrastructure, with an increasing focus on crude oil transportation and storage and connecting production regions, particularly the Permian Basin, to end markets. Its cash-generation capacity depends on fees associated with asset utilization, alongside commercial optimization opportunities arising from timing, location, and quality differentials and market volatility. The company is targeting a transition into a pure-play crude oil midstream business following the sale of its natural gas liquids assets, while benefiting from Cactus III and simplifying its cost structure.
In quarter 2 of fiscal year 2026, revenue reached $17.7 billion, gross profit was $1.1 billion, and net income was $389 million, equivalent to a gross margin of approximately 6.2% and a net income margin of approximately 2.2%. These results compare with revenue of $12.5 billion and net income of $20 million in quarter 1 of fiscal year 2026. On a trailing-twelve-month basis in fiscal year 2026, the company recorded revenue of $52.3 billion, gross profit of $4.1 billion, and net income of $554 million.
Quarter 1 of fiscal year 2026 showed that the crude oil business was the largest contributor to adjusted operating earnings, generating $582 million in adjusted earnings before interest, taxes, depreciation, and amortization, compared with $145 million for the natural gas liquids business, while the total attributable to PAGP was approximately $730 million. The natural gas liquids business benefited from higher cross-border flows, increased recovery production, and improved fractionation spreads in March 2026, while the crude oil business was affected by winter weather, maintenance, and the timing of minimum volume commitments.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $25.4, a low of $23, and a high of $28. The average is approximately 10% below the 52-week range high of $28.28, while the highest target nearly matches it. The stock's 52-week range is $16.68 to $28.28, but the absence of an available price-to-earnings ratio makes valuation more dependent on achieving the $2.88 billion adjusted earnings guidance, completing the sale of the natural gas liquids assets, and reducing leverage amid the dispute with Competition Bureau.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Plains GP Holdings LP is targeting a transition into a pure-play crude oil midstream company after selling its natural gas liquids assets. The crude oil business generated $582 million in adjusted earnings before interest, taxes, depreciation, and amortization in quarter 1 of fiscal year 2026, compared with $145 million for the natural gas liquids business. The business relies on transportation, storage, and connectivity networks in major production regions such as the Permian, in addition to optimization opportunities associated with timing, location, and quality differentials.
On May 8, 2026, management raised the midpoint of adjusted earnings before interest, taxes, depreciation, and amortization guidance by $130 million to $2.88 billion. A $70 million increase came from the natural gas liquids business due to outperformance in quarter 1 of fiscal year 2026 and continued ownership of the assets through May 2026, while $60 million came from the crude oil business. Crude oil drivers included secured optimization opportunities, higher FERC tariffs, and increased spot-tariff and West Coast volumes.
The company expects net proceeds of $3.3 billion from the sale, $100 million above its previous estimate. It plans to use slightly more than $3 billion to repay a term loan, outstanding commercial paper, and a $750 million note due during fiscal year 2026. Management expects pro forma leverage to decline from 4.1 times at the end of quarter 1 of fiscal year 2026 to approximately 3.5 times after deploying the proceeds.
Cactus III made a full-period contribution to quarter 1 of fiscal year 2026 results and is one of three drivers identified by management for growth, alongside the sale of the natural gas liquids assets and operational simplification. The system has expansion capacity that can be added in phases instead of through one large expansion project, subject to demand and commercial contracts. Management estimated that 200 thousand to 300 thousand barrels per day of oil was constrained behind pipelines in the Permian, which could support volumes when natural gas transportation constraints ease.
The company assumes Permian production will remain approximately flat during fiscal year 2026, and natural gas transportation constraints continue to limit the conversion of production capacity into actual volumes. The Keyera transaction also faces a lawsuit from Competition Bureau, despite management's confirmation on May 8, 2026 that the lawsuit does not prevent the parties from closing. In addition, the continuation of volatility-related optimization opportunities is difficult to guarantee, while hedging near the $60 to $65 per barrel range reduced the guidance's benefit from higher oil prices.
The analyst consensus rating for the stock is “Buy,” and the average price target is $25.4. The target range extends from $23 to $28, compared with a 52-week range of $16.68 to $28.28, and the average target is approximately 10% below the annual high. No price-to-earnings ratio is available in the provided data, so the stock's valuation largely depends on achieving the $2.88 billion adjusted earnings guidance and reducing leverage after the sale of the natural gas liquids assets.
