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Plains GP Holdings LP

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Plains GP Holdings LP (NYSE: PAGP) is a midstream energy limited partnership that holds an interest in the general partner and incentive distribution rights of Plains All American Pipeline LP, a crude oil and natural gas liquids pipeline and storage operator. PAGP itself does not directly own pipelines or storage assets. Its economic interest flows from its ownership stake in Plains All American Pipeline LP, meaning distributions and income depend entirely on that entity's performance. The filing, a 10-K filed February 27, 2026, confirms PAGP's structure as a holding entity rather than an operating company. Because the excerpts provided contain only the SEC cover page and registration metadata without operational or financial detail, segment revenue figures, geographic footprint specifics, customer concentration data, and competitive positioning cannot be confirmed from this source alone and are therefore omitted.

Products & Services

General partner interest and incentive distribution rights in Plains All American Pipeline LP.

Revenue Model

PAGP earns distributions and allocable income through its indirect ownership interest in the general partner of Plains All American Pipeline LP. It does not independently generate operating revenue from pipeline tariffs or commodity sales.

Financial Snapshot

Revenue
TTM
$45.26B
Gross Margin
TTM
8.53%
Net Income
TTM
$195.0M
Current Assets
2026 Q1
Current Liabilities
2026 Q1
Current Ratio
2026 Q1
94.22%
Total Assets
2026 Q1
Total Liabilities
2026 Q1
$18.81B
Book Value
2026 Q1
$13.95B
Cash
2026 Q1
P/E
TTM
26.72
Free Cash Flow
TTM
$2.129B

Stock Price

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Market Cap: $5.2108 Billion

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