Pulling SEC filings + quote and writing the call…
Pulling SEC filings + quote and writing the call…

PLAINS GP HOLDINGS LP
Next earnings Aug 6, 2026 · consensus $0.25 EPS, $13.1B rev
Last earnings -1.9% on 2026-05-08
Crude-oil midstream cash machine: $2.9B operating cash flow and rising operating income; GAAP EPS understates the distribution story.
Sources: SEC EDGAR (CIK 0001581990, latest 10-Q filed 2026-05-08) · EODHD · analysis by claude-code · as of 6/21/2026, 8:57:59 PM.
Research and education only — not financial advice. Calls are generated from SEC filings and a delayed/third-party price feed, may be wrong or out of date, and are not a recommendation to buy or sell any security. Do your own research.
The fundamentals carry the rating, but the price is rich (~23% above our fair-value estimate) — a quality-at-a-price call. The case rests on the business, not the entry; patient buyers may wait for a pullback.
Plains GP Holdings is the corporate vehicle for Plains All American's crude-oil midstream network — pipelines, storage and logistics that earn largely fee-based, volume-driven margins rather than commodity-price spreads. That model shows in the numbers: although revenue (which passes through the cost of crude) fell 9.5% to $44.3B with the oil price, operating income jumped 65.7% to $1.43B and net income rose 152.4% to $260M. Operating cash flow grew 18.0% to $2.93B — the metric that actually matters for a midstream business and the source of its distributions.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $42.1B | $57.3B | $47.3B | $48.9B | $44.3B |
| Gross profit | — | — | — | — | — |
| Operating income | $842M | $1.28B | $1.25B | $862M | $1.43B |
| Net income | $60.0M | $168M | $198M | $103M | $260M |
| Diluted EPS | — | — | — | — | — |
| Net margin | 0.1% | 0.3% | 0.4% | 0.2% | 0.6% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1482 tracked peers · median
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
| 2025-08-14 | PAA GP Holdings LLC Director | Award | 145K | |
| 2025-08-14 | Ziemba Lawrence Michael Director | Exercise | 7.65K | |
| 2025-08-14 | Ziemba Lawrence Michael Director | Exercise | 11.9K | |
| 2025-08-14 | SHACKOULS BOBBY S Director | Exercise | 7.65K | |
| 2025-08-14 | SHACKOULS BOBBY S Director | Exercise | 11.9K | |
| 2025-08-14 | RAYMOND JOHN T Director | Exercise | 7.65K | |
| 2025-08-14 | RAYMOND JOHN T Director | Exercise | 11.9K | |
| 2025-08-14 | Pruner Alexandra Director | Exercise | 7.65K | |
| 2025-08-14 | Pruner Alexandra Director | Exercise | 11.9K | |
| 2025-08-14 | PETERSEN GARY R Director | Exercise | 7.65K | |
| 2025-08-14 | PETERSEN GARY R Director | Exercise | 11.9K | |
| 2025-08-14 | McCarthy Kevin S Director | Exercise | 7.65K |
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.