Zacks Investment ResearchT3·11d ago
PAGP Plains GP Holdings, L.P. Class A Units representing Limited Partner Interests
XNAS
28.87
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
PAGP
$28.87
—
Key stats
$28.87
Pre-market
$28.90
+0.10%
- 52-Week Range
- $16.89 – $28.93
- YTD
- +48.74%
- IV Rank (30D)
- 19.13
- Straddle Price
- $1.15
- P/C Vol Ratio
- 0.03
- Market Cap
- $5.7B
- Open
- $28.39
- Day Range
- $28.25 – $28.93
- Volume
- 1,678,134
- Prev Close
- $28.61
Fair Value
+50.0% vs price
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.96% |
| Beta vs SPY | 0.65 |
| Cost of Equity (CAPM) | 8.20% (VRP-adj) |
| WACC | 6.64% |
| Volatility Risk Premium | +39.0pp (IV − HV30) |
| Effective Tax Rate | 17.7% |
| Rev. Growth (YoY, DCF input) | +30.0% |
| DCF Horizon | 10 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.10 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $2.3B |
| Return on Equity (TTM) | 35.1% |
| Book / Price | 250.8% — banking bias active (P/B is primary) |
| Gross Margin (TTM) | 7.8% |
| FCF Margin (TTM) | 4.5% |
| Debt / Equity | 0.55 |
| Quality Score | 3/6 — normal (10y DCF) |
| SMA 50 | $27.24 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $26.98 |
| Bollinger Width / SMA20 | 47.0% (drives anchor stability) |
| Net Debt | $7.4B |
| Market Cap | $6B |
Peers used for multiples: ACHV, ENB, ET, MIST, MPLX, SEI, SOBO, WMB
Blended Fair Value
$465.54
Deviation
+50.0%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | $1399.38 | 23% | |
| DDM (Gordon) | $67.32 | 18% | |
| Peer P/E | $78.80 | 10% | median 25.9× · 5 peers |
| Peer EV/EBITDA | $162.57 | 10% | median 14.8× · 6 peers |
| Peer P/B | $309.12 | 2% | median 4.3× · 5 peers |
| Peer P/S | $1384.41 | 7% | median 5.1× · 6 peers |
| Market Anchor (SMA50) | $27.24 | 29% | stability 65% (BB-width) |
| Options Expected (B-L 30d) | $29.14 | 0% | 6 strikes · skew +1.29 |
As of 2026-10-27 · updated
Related
About
- Industry (SIC)
- PIPE LINES (NO NATURAL GAS) (4610) · industry map
- Exchange
- XNAS
- Market Cap
- $5.7B
- Employees
- 3,900
- List Date
- 2013-10-16
- CIK
- 0001581990
- Next Earnings
- 2026-11-06 (Pre-Market)
- EPS Forecast
- $1.10 (3 est.)
- Headquarters
- Houston, TX
- Homepage
- https://www.plains.com
Plains GP Holdings LP owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), and natural gas. The group manages its operations through two operating segments: Crude Oil segment operations generally consist of gathering and transporting crude oil using pipelines (including gathering systems), trucks, and, at times, on barges or railcars; and NGL segment operations involve NGL storage and terminalling from NGL assets located in the Southwestern United States. It generates the majority of its revenue from the Crude Oil segment. …
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 1.53% | 8.67% | 7.38% | 0.43% | 14.20% | 5.51% | 6.29% |
| Feb | -0.35% | -6.91% | 5.54% | 5.78% | 1.84% | 9.63% | 2.59% |
| Mar | 2.62% | 2.12% | -4.93% | 5.43% | 0.28% | 5.70% | 1.87% |
| Apr | -1.16% | -4.94% | -2.12% | -0.98% | -13.18% | 3.08% | -3.22% |
| May | 14.12% | 6.98% | 1.42% | 1.29% | -1.46% | 2.23% | 4.10% |
| Jun | 4.92% | -15.89% | 7.62% | 5.61% | 8.79% | -2.06% | 1.50% |
| Jul | -13.45% | 6.27% | 5.09% | 0.37% | 2.62% | 8.71% | 1.60% |
| Aug | -5.15% | 8.51% | 3.82% | 1.11% | 0.31% | 8.54% | 2.86% |
| Sep | 9.73% | -8.78% | -0.43% | -2.01% | -4.05% | -9.03% | -2.43% |
| Oct | 0.55% | 10.29% | -1.94% | -7.23% | -5.63% | 11.34%* | 1.23% |
| Nov | -12.20% | 2.56% | 1.83% | 15.52% | 7.98% | -- | 3.14% |
| Dec | 3.15% | -4.01% | -2.39% | -6.22% | 2.57% | -- | -1.38% |
| Total | 0.79% | 0.92% | 21.88% | 18.57% | 12.06% | 50.81% | 17.50% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $26.98
SMA 50: $27.24
SMA 200: $24.50
Current: $28.87
EMA 12: $27.70
EMA 26: $27.31
MACD: 0.3914 | Signal: 0.2352
BULLISH
ADX (14): 23.70
WEAK TREND
+DI: 31.47
−DI: 10.33
Momentum Oscillators
RSI (14): 78.29
OVERBOUGHT
Stoch %K: 94.55
Stoch %D: 94.69
Williams %R: -1.81
Volume & Volatility
BB Upper: $28.69
BB Lower: $25.27
OVERBOUGHT
OBV: 101,204,884
Vol SMA 20: 1,965,385
Vol ROC: 44.50%
ATR: $0.51
True Range: $0.68
HV 20: 14.3%
HV 30: 14.5%
HV 60: 18.7%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-28T00:00:00 – 2026-10-26T00:00:00
AI Analysis
LLM Stock Analysis Report
SYMBOL: PAGP
Executive Summary Overall Assessment: NEUTRAL (6/10) Key Drivers: Strong technical signals, but mixed news sentiment Primary Risks: Low volatility and potential for consolidation Investment Thesis: PAGP is a stable stock with attractive risk-reward profile, but may require patience due to low volatility. Recent News Sentiment Impact: No recent news available, so no impact assessment.
Technical Analysis
- Trend Direction: Short-term: NEUTRAL (SMA 20 above SMA 50), Medium-term: BEARISH (SMA 200 below SMA 50), Long-term: BULLISH (long-term trend upwards)
- Support/Resistance Levels: $18.55 (lower band) and $19.11 (upper band) from Bollinger Bands
- Momentum Signals:
- RSI (14): Neutral (64.69)
- MACD: Bullish momentum signal (0.20 / Signal: -0.01 / Histogram: 0.21)
- Bollinger Bands: Overbought (signal line touched upper band)
- Volume Analysis: Volume SMA 20 is increasing, On-Balance Volume is positive, and Volume Rate of Change is decreasing.
News & Sentiment Analysis
- Recent Headlines Summary: No recent news available
- Sentiment Assessment: Neutral sentiment due to lack of recent news
- Catalyst Identification: No specific catalysts identified
- Market Narrative: Mixed technical signals with no clear market narrative
Risk & Volatility Assessment
- Beta Interpretation: Low risk (beta 0.66 vs SPY)
- Volatility Regime: Low volatility (stock moves less than market)
- Options Market Signals: High IV rank (79.5%), Bullish put-call volume ratio (0.06), and open interest in calls
- Downside Protection: Support levels at $18.55 and $18.20
Market Context & Positioning
- Sector Performance: No specific sector information available
- Institutional Activity: No clear institutional activity patterns observed
- Correlation Analysis: Correlation with market (R-squared interpretation) indicates low volatility
- Relative Valuation: PAGP is trading within a defined range
Key Levels & Action Items
- Critical Price Levels: $18.55 and $19.11 from Bollinger Bands, and $18.20 from SMA 50
- Breakout/Breakdown Levels: No specific levels identified
- Time-Sensitive Catalysts: Earnings information available for future analysis
- Risk Management: Stop-loss levels around $18.20, position sizing considerations based on risk tolerance
Analysis Conclusion: PAGP is a stable stock with strong technical signals and low volatility. While there are no recent news headlines to consider, the options market suggests bullish sentiment. The low volatility regime may lead to consolidation or minor price movements. Risk management is crucial in this environment, focusing on support levels and potential breakouts.
Generated
News
All PAGP news →
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Showing 1–10 of 50
Page 1 of 5
Earnings History
21 of 23 under expected move
Avg Expected Move
5.00%
Avg Actual Move
1.64%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-02-09 | Pre-Market | 9.92% | 1.27% | 0.13x | Within |
| 2021-05-04 | Pre-Market | 7.53% | 0.84% | 0.11x | Within |
| 2021-08-03 | Pre-Market | 8.07% | 1.85% | 0.23x | Within |
| 2021-11-02 | Pre-Market | 6.94% | 0.70% | 0.10x | Within |
| 2022-02-09 | Pre-Market | 6.72% | 1.04% | 0.15x | Within |
| 2022-05-04 | Pre-Market | 5.60% | 3.02% | 0.54x | Within |
| 2022-08-03 | Pre-Market | 7.30% | 0.18% | 0.02x | Within |
| 2022-11-02 | Pre-Market | 6.98% | 2.17% | 0.31x | Within |
| 2023-02-08 | Pre-Market | 5.15% | 0.08% | 0.02x | Within |
| 2023-05-05 | Pre-Market | 5.15% | 5.39% | 1.05x | Exceeded |
| 2023-08-04 | Pre-Market | 4.29% | 1.69% | 0.39x | Within |
| 2023-11-03 | Pre-Market | 4.15% | 0.92% | 0.22x | Within |
| 2024-02-09 | Pre-Market | 3.11% | 0.87% | 0.28x | Within |
| 2024-05-03 | Pre-Market | 4.43% | 1.88% | 0.42x | Within |
| 2024-08-02 | Pre-Market | 3.95% | 3.11% | 0.79x | Within |
| 2024-11-08 | Pre-Market | 2.39% | 2.92% | 1.22x | Exceeded |
| 2025-02-07 | Pre-Market | 3.31% | 1.85% | 0.56x | Within |
| 2025-05-09 | Pre-Market | 3.29% | 2.74% | 0.83x | Within |
| 2025-08-08 | Pre-Market | 3.63% | 0.26% | 0.07x | Within |
| 2025-11-05 | Pre-Market | 4.61% | 0.87% | 0.19x | Within |
| 2026-02-06 | Pre-Market | 3.30% | 2.27% | 0.69x | Within |
| 2026-05-08 | Pre-Market | 3.17% | 1.86% | 0.59x | Within |
| 2026-09-14 | Pre-Market | 1.96% | 0.04% | 0.02x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
PAGP Options Activity & IV Rank
PAGP IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 19.2%
7-DTE IV: —
Expected Move: $1.15
7-DTE Move: $1.15
Days to Exp: 25 (2026-11-20)
Options Flow
Call Volume: 11,768
Put Volume: 357
P/C Volume: 0.03
BULLISH
Call OI: 60,841
Put OI: 21,883
P/C OI: 0.36
Total OI: 82,724
ATM Options Pricing
ATM Call: $0.35
ATM Put: $0.80
Call %: 1.2%
Put %: 2.8%
Chain Summary
Chain Volume: 14,801
Chain OI: 184,627
Last Updated: 10/26/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
HIGH γ vs HISTORY
Estimated net dealer gamma is at the 81st percentile of this name's own daily history, near the high end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
81%
vs own history
GEX tilt
+0.50
OI-weighted, today
Vanna tilt
-0.09
δ-sensitivity to IV
Charm tilt
-0.50
δ-decay vs time
Charm tilt -0.50: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 38 ATM contracts, 70k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
as of Oct 26 · No data
30 DTE / 10d
36%
+9.5
pts
EXTREME
as of Oct 26 · ATM 18.7% / Wing 28.2%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)19.1LowOct 26
Straddle Price (30 DTE)$1.15Oct 26
Beta Analysis
Risk Metrics
Beta: -0.3856
Alpha: 56.30%
Correlation: -0.2673
R-Squared: 7.1%
Stock Volatility: 18.4%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Negative beta - stock moves opposite to market
Negative beta - stock moves opposite to market
Beta & Alpha Over Time
Notable investors who own PAGP
3 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Citadel Hedge fund Ken Griffin | $24.0M | #1036 of 6285 | +112.0% | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $520K | #2065 of 4729 | +9.1% | 13F | |
| Millennium Management Hedge fund Izzy Englander | $269K | #3389 of 3716 | -33.2% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
PAGP Institutional Ownership (13F)
Latest filings — 2026-09-30
? 13F Guide
Diluted shares outstanding: 211,538,461 (as of 2026-06-30)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
16 filers$330.08M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $77.16M | 23.38% | 2026-06-30 |
| 2 | PEAK6 LLC | $67.25M | 20.38% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $58.05M | 17.59% | 2026-06-30 |
| 4 | Jane Street Group, LLC Custodian | $43.47M | 13.17% | 2026-06-30 |
| 5 | Walleye Trading LLC | $22.44M | 6.80% | 2026-06-30 |
| 6 | Simplex Trading, LLC Custodian | $21.16M | 6.41% | 2026-06-30 |
| 7 | GROUP ONE TRADING LLC Custodian | $13.00M | 3.94% | 2026-06-30 |
| 8 | Squarepoint Ops LLC | $7.96M | 2.41% | 2026-06-30 |
| 9 | IMC-Chicago, LLC Custodian | $5.77M | 1.75% | 2026-06-30 |
| 10 | Walleye Capital LLC | $4.14M | 1.25% | 2026-06-30 |
| 11 | Point72 Asset Management, L.P. | $4.12M | 1.25% | 2026-06-30 |
| 12 | Two Sigma Investments, LP Custodian | $3.79M | 1.15% | 2026-06-30 |
| 13 | Wolverine Trading, LLC Custodian | $1.04M | 0.32% | 2025-09-30 |
| 14 | TUDOR INVESTMENT CORP ET AL | $441.71K | 0.13% | 2026-06-30 |
| 15 | Millennium Management LLC Custodian | $276.68K | 0.08% | 2026-06-30 |
| 16 | JPMorgan Chase & Co Custodian | $4.82K | <0.01% | 2026-06-30 |
14 filers$51.22M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Walleye Trading LLC | $13.04M | 25.45% | 2026-06-30 |
| 2 | Point72 Asset Management, L.P. | $6.97M | 13.61% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $6.75M | 13.18% | 2026-06-30 |
| 4 | Walleye Capital LLC | $6.63M | 12.95% | 2026-06-30 |
| 5 | Citadel Advisors LLC Custodian | $3.09M | 6.04% | 2026-06-30 |
| 6 | Jane Street Group, LLC Custodian | $2.81M | 5.48% | 2026-06-30 |
| 7 | TUDOR INVESTMENT CORP ET AL | $2.65M | 5.16% | 2026-06-30 |
| 8 | Two Sigma Investments, LP Custodian | $2.52M | 4.91% | 2026-06-30 |
| 9 | GROUP ONE TRADING LLC Custodian | $2.41M | 4.71% | 2026-06-30 |
| 10 | Squarepoint Ops LLC | $2.33M | 4.54% | 2026-06-30 |
| 11 | IMC-Chicago, LLC Custodian | $895.56K | 1.75% | 2026-06-30 |
| 12 | Wolverine Trading, LLC Custodian | $805.04K | 1.57% | 2025-09-30 |
| 13 | Simplex Trading, LLC Custodian | $320.36K | 0.63% | 2026-06-30 |
| 14 | JPMorgan Chase & Co Custodian | $4.82K | <0.01% | 2026-06-30 |
PAGP Insider Trading (Form 4)
Latest: 2026-10-02Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-10-02 | Richard K. McGee | EVP, General Counsel & Sec. | Gift (G) | −120,000 RSU | — | EDGAR | |
| 2026-08-17 | Lawrence Michael Ziemba | Director | Exer (M) | +7,400 | — | EDGAR | |
| 2026-08-17 | Victor Burk | Director | Exer (M) | +7,400 | — | EDGAR | |
| 2026-08-17 | Cindy B Taylor | Director | Grant (A) | +7,700 RSU | — | EDGAR | |
| 2026-08-17 | John T Raymond | Director | Exer (M) | +7,400 | — | EDGAR | |
| 2026-08-17 | Bobby S Shackouls | Director | Exer (M) | +7,400 | — | EDGAR | |
| 2026-08-17 | Gary R Petersen | Director | Exer (M) | +7,400 | — | EDGAR | |
| 2026-08-17 | Ellen DeSanctis | Director | Exer (M) | +7,400 | — | EDGAR | |
| 2026-08-17 | Alexandra Pruner | Director | Exer (M) | +7,400 | — | EDGAR | |
| 2026-08-17 | Kevin S McCarthy | Director | Exer (M) | +7,400 | — | EDGAR | |
| 2025-08-18 | Alexandra Pruner | Director | Exer (M) | +19,550 | — | EDGAR | |
| 2025-08-18 | Gary R Petersen | Director | Exer (M) | +19,550 | — | EDGAR | |
| 2025-08-18 | Victor Burk | Director | Exer (M) | +19,550 | — | EDGAR | |
| 2025-08-18 | John T Raymond | Director | Exer (M) | +19,550 | — | EDGAR | |
| 2025-08-18 | Ellen DeSanctis | Director | Exer (M) | +7,650 | — | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
PAGP Insider Holdings
10 insiders · @ $28.87
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Greg L Armstrong | Director | 3,837,646 | $110.79M | $18.03M | 16 | 2025-08-12 |
| 2 | John T Raymond | Director | 322,794 | $9.32M | -$212.32M | 21 | 2026-08-17 |
| 3 | Kevin S McCarthy | Director | 156,091 | $4.51M | $0 | 11 | 2026-08-17 |
| 4 | Lawrence Michael Ziemba | Director | 95,180 | $2.75M | $0 | 11 | 2026-08-17 |
| 5 | Alexandra Pruner | Director | 88,294 | $2.55M | $0 | 12 | 2026-08-17 |
| 6 | Bobby S Shackouls | Director | 85,307 | $2.46M | $0 | 17 | 2026-08-17 |
| 7 | Gary R Petersen | Director | 75,544 | $2.18M | $0 | 12 | 2026-08-17 |
| 8 | Victor Burk | Director | 50,323 | $1.45M | $59.1K | 18 | 2026-08-17 |
| 9 | Ellen DeSanctis | Director | 44,500 | $1.28M | $119.8K | 7 | 2026-08-17 |
| 10 | Richard K. McGee | EVP, General Counsel & Sec. | 2,500 | $72.2K | $52.7K | 8 | 2026-10-02 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
PAGP Board & Officers
As of SEC filings through Oct 7, 2026Directors 12
- Greg L Armstrong · since Oct 15, 2013
- John T Raymond · since Oct 15, 2013
- Bobby S Shackouls · since Jan 9, 2014
- Victor Burk · since Jan 28, 2014
- Gary R Petersen · since Nov 15, 2016
- Alexandra Pruner · since Dec 10, 2018
- Willie CW Chiang · listed since Nov 2019
- Lawrence Michael Ziemba · since Jan 8, 2020
- Harry N Pefanis · listed since Feb 2020
- Kevin S McCarthy · since Oct 1, 2020
- Ellen DeSanctis · since Aug 15, 2022
- Cindy B Taylor · since May 11, 2026
Officers 3
- Dean Liollio · EVP & COO · since Oct 2, 2026
- Richard K. McGee · EVP, General Counsel & Sec. · listed since Oct 2013
- Russell Lee Montgomery · VP, Acctg & CAO · since Sep 1, 2026
Changes in the last 10 years (29)
| Oct 2, 2026 | Dean Liollio became EVP & COO |
| Sep 1, 2026 | Russell Lee Montgomery became VP, Acctg & CAO |
| May 11, 2026 | Cindy B Taylor became a director |
| Aug 15, 2022 | Ellen DeSanctis became a director |
| Nov 20, 2020 | EMG Investment, LLC reported in an SEC filing no longer being a director |
| Oct 1, 2020 | Kevin S McCarthy became a director |
| Feb 27, 2020 | Harry N Pefanis listed as President & CCO (previously President & COO) in SEC filings |
| Feb 27, 2020 | Harry N Pefanis first listed as a director in an SEC filing |
| Feb 25, 2020 | Willie CW Chiang listed as Chairman & CEO (previously CEO) in SEC filings |
| Jan 22, 2020 | Chris Herbold listed as Sr. VP and Chief Acctg Officer (previously VP-Acctg & Chief Acctg Officer) in SEC filings |
| Jan 8, 2020 | Lawrence Michael Ziemba became a director |
| Nov 20, 2019 | Willie CW Chiang listed as CEO (previously EVP & COO (u.s.)) in SEC filings |
| Nov 20, 2019 | Willie CW Chiang first listed as a director in an SEC filing |
| Mar 1, 2019 | Jeremy L. Goebel became EVP - Commercial |
| Mar 1, 2019 | Chris R. Chandler became EVP & COO |
| Jan 16, 2019 | Greg L Armstrong no longer listed as Chairman of the Board & CEO in SEC filings |
| Dec 10, 2018 | Alexandra Pruner became a director |
| Aug 14, 2017 | Oscar K Brown became a director |
| Jan 4, 2017 | Kayne Anderson Capital Advisors LP no longer listed as a director in SEC filings |
| Jan 4, 2017 | Kayne Anderson Capital Advisors LP no longer listed as a 10% owner in SEC filings |
| Jan 4, 2017 | Kafu Holdings, L.p. no longer listed as a director in SEC filings |
| Jan 4, 2017 | Kafu Holdings, L.p. no longer listed as a 10% owner in SEC filings |
| Jan 4, 2017 | KAFU Holdings II, L.P. no longer listed as a director in SEC filings |
| Jan 4, 2017 | KAFU Holdings II, L.P. no longer listed as a 10% owner in SEC filings |
| Jan 4, 2017 | KAFU Holdings (QP), L.P. no longer listed as a director in SEC filings |
| Jan 4, 2017 | KAFU Holdings (QP), L.P. no longer listed as a 10% owner in SEC filings |
| Nov 15, 2016 | J Taft Symonds became a director |
| Nov 15, 2016 | Gary R Petersen became a director |
| Nov 15, 2016 | Chris Temple became a director |
Not reported recently (10)
- Chris Temple · Last reported as a director in an SEC filing dated Aug 17, 2023
- Jeremy L. Goebel · Last reported as EVP - Commercial in an SEC filing dated Jan 5, 2023
- Chris Herbold · Last reported as Sr. VP and Chief Acctg Officer in an SEC filing dated Jan 19, 2021
- Robert V Sinnott · Last reported as a director in an SEC filing dated Aug 18, 2020
- Everardo Goyanes · Last reported as a director in an SEC filing dated Nov 19, 2019
- J Taft Symonds · Last reported as a director in an SEC filing dated Aug 16, 2019
- Chris R. Chandler · Last reported as EVP & COO in an SEC filing dated Mar 8, 2019
- Oscar K Brown · Last reported as a director in an SEC filing dated Jan 2, 2019
- John vonBerg · Last reported as EVP - Commercial Activities in an SEC filing dated May 31, 2017
- Al Swanson · Last reported as Executive VP & CFO in an SEC filing dated May 26, 2017
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
ETF Holders
40 ETFs hold PAGP
25 shown · $488.14M total exposure · 0.77% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | EMLP First Trust North American Energy Infrastructure Fund | First Trust | 4.06% | $170.4M | $4.2B | 2026-10-23 |
| 2 | MLPX Global X MLP and Energy Infrastructure ETF | Global X | 1.64% | $60.5M | — | 2026-10-26 |
| 3 | SURI Simplify Propel Opportunities ETF | Nport | 39.97% | $30.9M | — | 2026-06-30 |
| 4 | VDE Vanguard Energy ETF | Vanguard | 0.23% | $29.3M | — | 2026-09-30 |
| 5 | ENFR Alerian Energy Infrastructure ETF | Nport | 5.22% | $24.0M | — | 2026-05-31 |
| 6 | TNGY Tortoise Energy ETF | Nport | 4.36% | $23.2M | — | 2026-05-31 |
| 7 | EIPI FT Energy Income Partners Enhanced Income ETF | First Trust | 2.05% | $22.7M | $1.1B | 2026-10-23 |
| 8 | UMI USCF Midstream Energy Income Fund | Nport | 4.55% | $22.1M | — | 2026-06-30 |
| 9 | SMIG Bahl & Gaynor Small/Mid Cap Income Growth ETF | Nport | 1.28% | $18.7M | — | 2026-06-30 |
| 10 | EIPX FT Energy Income Partners Strategy ETF | First Trust | 2.92% | $17.1M | $586.5M | 2026-10-23 |
| 11 | MLPI NEOS MLP & Energy Infrastructure High Income ETF | Nport | 1.79% | $12.1M | — | 2026-06-30 |
| 12 | SYLD Cambria Shareholder Yield ETF | Nport | 1.05% | $10.5M | — | 2026-07-31 |
| 13 | AVSC Avantis U.S. Small Cap Equity ETF | Avantis | 0.31% | $9.9M | $3.2B | 2026-10-23 |
| 14 | FENY Fidelity MSCI Energy Index ETF | Fidelity | 0.23% | $5.4M | $2.3B | 2026-10-23 |
| 15 | NUSC Nuveen ESG Small-Cap ETF | Nport | 0.38% | $4.9M | — | 2026-07-31 |
| 16 | TPYP Tortoise North American Pipeline ETF | Nport | 0.57% | $4.8M | — | 2026-05-31 |
| 17 | PIPE Invesco SteelPath MLP & Energy Infrastructure ETF | Invesco | 6.89% | $4.5M | — | 2026-10-24 |
| 18 | RAAX VanEck Real Assets ETF | VanEck | 0.25% | $3.5M | $1.4B | 2026-10-23 |
| 19 | MDIV Multi-Asset Diversified Income Index Fund | First Trust | 0.74% | $3.1M | $415.6M | 2026-10-23 |
| 20 | SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF | iShares (BlackRock) | 0.75% | $2.1M | $277.6M | 2026-10-23 |
| 21 | ABLD Abacus FCF Real Assets Leaders ETF | Nport | 2.01% | $1.9M | — | 2026-07-31 |
| 22 | AVUS Avantis U.S. Equity ETF | Avantis | 0.01% | $1.8M | $14.7B | 2026-10-23 |
| 23 | USAI Pacer American Energy Independence ETF | Nport | 1.34% | $1.8M | — | 2026-07-31 |
| 24 | ESML iShares ESG Aware MSCI USA Small-Cap ETF | iShares (BlackRock) | 0.06% | $1.6M | $2.7B | 2026-10-23 |
| 25 | EINC VanEck Energy Income ETF | Nport | 1.42% | $1.5M | — | 2026-06-30 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
$2.77
TTM Revenue
$52.30B
TTM Net Income
$554.00M
TTM Op. Cash Flow
$2.97B
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q2 '26 | 2026-06-30 | $17.69B | $389.00M | $1.97 | $952.00M |
| Q1 '26 | 2026-03-31 | $12.47B | $20.00M | $0.10 | $418.00M |
| Q4 '25 | 2025-12-31 | $10.56B | $62.00M | $0.31 | $784.00M |
| Q3 '25 | 2025-09-30 | $11.58B | $83.00M | $0.41 | $817.00M |
| Q2 '25 | 2025-06-30 | $10.64B | $30.00M | $0.15 | $692.00M |
| Q1 '25 | 2025-03-31 | $11.48B | $84.00M | $0.42 | $638.00M |
| Q4 '24 | 2024-12-31 | $12.04B | $-11.00M | $-0.07 | $726.00M |
| Q3 '24 | 2024-09-30 | $12.46B | $33.00M | $0.17 | $688.00M |
| Q2 '24 | 2024-06-30 | $12.76B | $39.00M | $0.19 | $652.00M |
| Q1 '24 | 2024-03-31 | $11.99B | $42.00M | $0.21 | $418.00M |
| Q4 '23 | 2023-12-31 | $12.70B | $52.00M | $0.26 | $1.01B |
| Q3 '23 | 2023-09-30 | $12.07B | $29.00M | $0.15 | $83.00M |
Q2 2026 • period ending 2026-06-30 • filed 2026-08-10
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
10.42
P/B
0.40
P/S
0.12
EV/EBITDA
5.27
EV/Sales
0.26
ROE
3.6%
ROA
1.8%
Div Yield
5.58%
FCF Yield
48.65%
Debt/Equity
0.55
Current Ratio
—
Market Cap
$6.11B
as of 2026-10-26
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
15.95M
SI % of Float
8.29%
Days to Cover
9.72
Short Vol Ratio
75.4%
Free Float
192.46M
Float %
97.3%
Short interest 2026-09-30 • Short volume 2026-10-26 • Float 2026-05-13