Plains GP Holdings LP Class A (PAGP)

In the past six months, Plains GP Holdings LP stock price has been impacted by several events. The company reported an earnings miss for its fourth quarter, with a GAAP EPS of $0.17, falling short by $0.27, and revenue of $10.56 billion, a 14.8% year-over-year decline. Bank of America downgraded PAGP to a "Sell" equivalent. Despite the earnings miss, Plains GP Holdings announced a 10% increase in its quarterly distribution, bringing the annualized distribution to $1.67 per unit. Analysts have offered mixed ratings, with a consensus "Hold" from nine analysts. The stock has experienced a recent decline of 1.23% since the market opened on February 7, 2026, and has traded between a low of $16.61 and a high of $21.97 over the past 52 weeks.

Demand seasonality for Plains GP Holdings LP's products and services is observed, particularly with natural gas liquids. While condensate sales are generally ratable, butane and propane sales are seasonal. Colder months typically see higher propane sales as Plains utilizes its storage capacity to optimize sales timing and maximize value.

Plains GP Holdings LP operates in the Energy sector as the General Partner of Plains All American Pipeline, generating revenue through distributions from PAA's business. The company provides transportation, storage, processing, fractionation, and marketing services for crude oil, refined products, natural gas liquids, and liquefied petroleum gas, operating through Crude Oil and NGL segments. Plains GP Holdings has been streamlining its focus, including a divestiture of its Canadian NGL business, to concentrate on crude oil infrastructure. Its major products and services include crude oil midstream services and NGL storage and residual services.

Plains GP Holdings, L.P. has a significant geographic footprint across North America, operating midstream infrastructure systems in the United States and Canada. The company's assets connect major oil and gas producing regions with key refining centers and demand markets, with a substantial presence in the Permian Basin and Gulf Coast.

Plains GP Holdings' brand reputation has been influenced by its financial performance and strategic decisions. The company's strong fourth-quarter and full-year 2025 results, coupled with a 10% distribution increase, were presented as positive indicators. However, the reported earnings miss and a 14.8% year-over-year revenue decline in Q4 2025, along with a downgrade to "Sell" by Bank of America, could negatively impact its reputation. Management's proactive execution of major transactions and a focus on becoming a pure-play crude oil midstream operator aim to position Plains more competitively for the future.

The ownership of Plains GP Holdings, L.P. is heavily weighted toward institutional investors, which hold approximately 78.48% of the common stock, while individual/insider ownership accounts for about 2.76%. Major institutional shareholders include Tortoise Capital Advisors, L.L.C., Energy Income Partners, LLC, Massachusetts Financial Services Co /ma/, Chickasaw Capital Management Llc, Clearbridge Investments, LLC, Goldman Sachs Group Inc, and Invesco Ltd.