Plains All Amer Stock Price, News & Analysis

Plains All American (Nasdaq: PAA) reported Q3 2025 net income of $441M and Adjusted EBITDA attributable to PAA of $669M, exiting the quarter with a 3.3x leverage ratio. Management raised $1.25B of senior unsecured notes in September. Plains completed acquisitions to own 100% of EPIC, paying approximately $1.33B (including ~$500M debt) plus a potential earnout up to $157M; company expects mid‑teens returns and a ~10x 2026 EBITDA multiple for EPIC.

Plains forecasts full‑year 2025 Adjusted EBITDA of $2.84–$2.89B, including ~$40M from EPIC, and expects the Canadian NGL sale to close in Q1 2026.

Plains All American Pipeline (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) announced quarterly cash distributions for 3Q2025 and the timing of 3Q2025 earnings.

• PAA common units: $0.38 per unit ($1.52 annualized), payable Nov 14, 2025; record date Oct 31, 2025.
• PAGP Class A shares: $0.38 per share ($1.52 annualized), payable Nov 14, 2025; record date Oct 31, 2025.
• PAA Series A preferred: $0.61524 per unit (≈$2.46 annualized).
• PAA Series B preferred: $21.93 for the quarter (floating rate), payable Nov 17, 2025; record date Nov 3, 2025.

Qualified notices under Treas. Reg. §1.1446 and tax characterization details for PAGP distributions will be posted on plains.com. 3Q2025 earnings release: before market open Nov 5, 2025; conference call 9:00 a.m. CT (10:00 a.m. ET) with live webcast on the company's investor site.

Plains All American Pipeline (Nasdaq: PAA) has priced a significant public offering of $1.25 billion in senior notes, comprising $700 million of 4.70% notes due 2031 and $550 million of 5.60% notes due 2036. The offering, expected to close on September 8, 2025, will generate net proceeds of approximately $1,236.5 million.

The proceeds will be used to redeem PAA's 4.65% Senior Notes due October 2025 and partially fund the acquisition of a 55% non-operated interest in EPIC Crude Holdings, LP. Any remaining funds will be allocated to general partnership purposes. The offering's closing is not contingent on either the redemption or the EPIC acquisition.

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.