Plains All Amer Stock Price, News & Analysis

Plains All American Pipeline (Nasdaq: PAA) has announced a strategic acquisition of a 55% non-operated interest in EPIC Crude Holdings for approximately $1.57 billion, which includes about $600 million of debt. The transaction includes a potential $193 million earnout payment if pipeline capacity expansion reaches 900,000 barrels per day by 2027.

EPIC Crude Holdings owns and operates the EPIC Pipeline, which spans 800 miles connecting Permian and Eagle Ford basins to Corpus Christi, with a current capacity of 600,000 barrels per day. The system includes 7 million barrels of operational storage and over 200,000 barrels per day of export capacity.

The acquisition, expected to close by early 2026, will be immediately accretive to distributable cash flow and is projected to generate mid-teens unlevered returns. The remaining 45% stake is owned by an Ares Management Corporation portfolio company.

Plains All American Pipeline (Nasdaq: PAA) reported solid Q2 2025 results with net income of $210 million and Adjusted EBITDA of $672 million. The company announced a major strategic move to divest its Canadian NGL business for $3.75 billion USD, with closing expected in Q1 2026.

Key financial metrics include net cash from operations of $694 million and a leverage ratio of 3.3x. The company also acquired an additional 20% stake in BridgeTex Pipeline, increasing its total interest to 40%. The quarterly distribution was increased by 20% year-over-year to $0.3800 per unit.

The NGL sale proceeds will be allocated toward bolt-on acquisitions, preferred unit repurchases, and opportunistic common unit repurchases.

Plains All American Pipeline (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) have announced their quarterly distributions for Q2 2025. Both companies will maintain their quarterly distributions at $0.38 per unit/share ($1.52 annualized), payable on August 14, 2025, to holders of record as of July 31, 2025.

Additionally, PAA declared distributions for its preferred units: $0.61524 per Series A Preferred Unit and $22.23 per Series B Preferred Unit. The companies will release their Q2 2025 earnings before market open on Friday, August 8, 2025, followed by a conference call at 9:00 a.m. CT.

Plains All American Pipeline (Nasdaq: PAA) has announced the availability of its 2024 Schedule K-3 tax documentation, which contains information about items of international tax relevance. The Schedule K-3 can be accessed online at www.taxpackagesupport.com/plainsallamerican.

The documentation is primarily relevant for foreign unitholders, those computing foreign tax credits, and certain corporate and partnership unitholders. Unitholders can receive an electronic copy via email by calling Tax Package Support at (866) 872-2829.

Plains All American Pipeline (PAA) has announced the sale of its NGL business to Keyera Corp. for $3.75 billion USD ($5.15 billion CAD). The transaction, expected to close in Q1 2026, will transform PAA into a pure-play crude oil midstream company while retaining its U.S. NGL assets and Canadian crude oil operations. The deal values at approximately 13x expected 2025 DCF, with net proceeds of $3.0 billion USD after taxes and expenses. Management plans a potential $0.35/unit special distribution to offset unitholder tax implications. The proceeds will be used for bolt-on M&A in crude oil, capital structure optimization, and opportunistic unit repurchases. The transaction will reduce commodity exposure and working capital requirements while enhancing free cash flow profile.

Plains All American Pipeline (PAA) reported strong Q1 2025 results with net income of $443 million, up 67% year-over-year, and operating cash flow of $639 million. The company delivered Adjusted EBITDA of $754 million and maintained a healthy 3.3x leverage ratio. Key business highlights include acquiring the remaining 50% stake in Cheyenne Pipeline, purchasing Black Knight Midstream's Permian Basin assets for $55 million, and completing the Fort Saskatchewan fractionation complex debottleneck project. The company declared a quarterly distribution of $0.38 per unit, representing a ~9% yield. Segment performance showed Crude Oil EBITDA at $559 million (+1% YoY) and NGL EBITDA at $189 million (+19% YoY), driven by higher tariff volumes, pipeline escalations, and improved NGL sales.

Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) have announced their quarterly distributions for Q1 2025. Both PAA Common Units and PAGP Class A Shares will maintain their quarterly distribution at $0.38 per unit ($1.52 annualized), unchanged from February 2025.

Additional distributions include $0.61524 per Series A Preferred Unit (approximately $2.46 annualized) and $21.49 per Series B Preferred Unit (floating rate). All distributions will be payable on May 15, 2025 to holders of record as of May 1, 2025.

The companies will release their Q1 2025 earnings before market open on May 9, 2025, followed by a conference call at 9:00 a.m. CT to discuss results with analysts and investors.

Plains All American Pipeline (PAA) announced significant leadership changes effective June 1, 2025. Harry Pefanis will retire as President after serving the company for over 27 years since co-founding it. Current Chairman and CEO Willie Chiang will assume the additional role of President.

Pefanis, who has been with the organization for more than four decades, including time before its 1998 IPO, will continue serving on the Board of Directors and transition to a Senior Advisor role. Under his leadership, Plains evolved into a modern energy transportation company, focusing on customer service, operational excellence, and financial strength.

The company also announced Board changes effective June 1, 2025: John Raymond will succeed Bobby Shackouls as Lead Director and Chair of the Governance Committee, while Shackouls will take over Raymond's position as Chair of the Compensation Committee. Both will remain members of their previous committees to ensure a smooth transition.

Plains All American Pipeline (PAA) reported its Q4 and full-year 2024 results, with net income of $36 million and $772 million respectively. The company delivered strong Q4 and full-year 2024 Adjusted EBITDA of $729 million and $2.78 billion, exceeding guidance.

The company completed three bolt-on acquisitions for approximately $670 million, including Ironwood Midstream Energy, and purchased 12.7 million Series A Preferred Units for about $330 million. For 2025, PAA expects Adjusted EBITDA of $2.80-$2.95 billion and announced a 20% distribution increase to $1.52 per unit annually.

Q4 results include a $225 million charge from Line 901 insurance proceeds write-off and $140 million in non-cash charges related to U.S. NGL terminals write-down. The company successfully raised $1 billion in senior unsecured notes at 5.95% due 2035 and anticipates maintaining leverage ratio below target range of 3.25x to 3.75x.