Plains All American Pipeline L.P. (PAA) vs Plains GP L.P. (PAGP)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Plains GP L.P. (PAGP) has outperformed Plains All American Pipeline L.P. (PAA) over the past year, gaining 54.7% versus a gain of 50.5%. Over five years, PAGP leads with a +126.5% price change compared with +119.3% for PAA. Plains All American Pipeline L.P. is the larger company by market cap ($17.17 billion vs $6.20 billion), about 2.8 times the size.
On valuation, Plains All American Pipeline L.P. trades at a lower forward P/E (12.7x vs 12.9x for Plains GP L.P.). Plains All American Pipeline L.P. offers the higher dividend yield (6.71% vs 6.13%). Plains All American Pipeline L.P. converts more of its revenue into profit, with a net margin of 3.2% versus 0.6%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | PAA | PAGP |
|---|---|---|
| Share price | $24.34 | $26.62 |
| Market cap | $17.17B | $6.20B |
| 1-day change | -0.33% | +0.19% |
| YTD return | +35.52% | +39.08% |
| 1-year return | +50.53% | +54.68% |
| 5-year return | +119.28% | +126.51% |
| P/E ratio (TTM) | 20.98 | 60.50 |
| Forward P/E | 12.66 | 12.89 |
| EPS (TTM) | $1.16 | $0.44 |
| Dividend yield | 6.71% | 6.13% |
| Annual dividend | $1.63 | $1.63 |
| Revenue (latest FY) | $44.26B | $44.26B |
| Revenue growth (YoY) | -9.46% | -9.46% |
| Net income (latest FY) | $1.44B | $260.00M |
| Gross margin | 8.65% | 8.65% |
| Operating margin | 3.24% | 3.23% |
| Net margin | 3.24% | 0.59% |
| 52-week high | $26.39 | $28.70 |
| 52-week low | $15.69 | $16.68 |
| Distance from 52-week high | -7.77% | -7.25% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +7.35% | -2.03% |
| Average volume | 2.54M | 1.66M |
| Shares outstanding | 705.57M | 197.90M |
| Employees | 3,900 | — |
| Sector | Energy | Energy |
| Industry | Natural Gas Distribution | Natural Gas Distribution |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Plains All American Pipeline L.P. is about 2.8 times larger than Plains GP L.P. by market value ($17.17B vs $6.20B).
- Plains GP L.P. trades at a higher earnings multiple (60.5x vs 21.0x trailing P/E).
About Plains All American Pipeline L.P.
PAA stock →Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL.
Energy · Natural Gas Distribution · 3,900 employees
About Plains GP L.P.
PAGP stock →Plains GP Holdings, L.P., through its subsidiary, Plains All American Pipeline, L.P., owns and operates midstream infrastructure systems in the United States and Canada. It operates through Crude Oil and Natural Gas Liquids (NGLs) segments.
Energy · Natural Gas Distribution
PAA vs PAGP FAQ
Which is bigger, Plains All American Pipeline L.P. or Plains GP L.P.?
Plains All American Pipeline L.P. (PAA) is larger, with a market capitalization of $17.17B compared with $6.20B for Plains GP L.P. (PAGP).
Which stock has performed better over the past year, PAA or PAGP?
PAGP returned +54.68% over the past 12 months, compared with +50.53% for PAA (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, PAA or PAGP?
PAA has the lower trailing P/E at 21.0, versus 60.5 for PAGP. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Plains All American Pipeline L.P. or Plains GP L.P.?
Plains All American Pipeline L.P. has the higher yield at 6.71%, compared with 6.13% for Plains GP L.P..
Are Plains All American Pipeline L.P. and Plains GP L.P. in the same industry?
Yes. Both are classified in the Natural Gas Distribution industry within the Energy sector.