Welcome to our dedicated page for Plains All Amer news (Ticker: PAA), a resource for investors and traders seeking the latest updates and insights on Plains All Amer stock.
Plains All American Pipeline, L.P. (Nasdaq: PAA) is a publicly traded master limited partnership that owns and operates midstream energy infrastructure for crude oil and natural gas liquids (NGL) in the United States and Canada. The PAA news page on Stock Titan aggregates company announcements, earnings releases, transaction updates and other disclosures so readers can follow how this crude-oil-focused midstream partnership is managing its pipeline, storage and logistics network.
Recent Plains communications have covered topics such as quarterly distributions on PAA common and preferred units and on Plains GP Holdings (PAGP) Class A shares, along with information about the tax characterization of those distributions. The company regularly announces the timing of its quarterly earnings releases and related conference calls, providing insight into operating performance, Adjusted EBITDA, distributable cash flow and leverage metrics, as well as commentary on its capital allocation framework.
News items also highlight strategic transactions and financing activities. Plains has reported entering into and closing definitive agreements to acquire 100% of the equity interests in EPIC Crude Holdings, LP, which owns and operates the EPIC Crude Oil Pipeline, a long-haul system moving crude oil from the Permian and Eagle Ford basins to the Gulf Coast market at Corpus Christi. Other releases describe the execution of agreements to sell substantially all of its Canadian NGL business to Keyera Corp., positioning Plains as a crude-oil-centered midstream entity while retaining U.S. NGL assets and all Canadian crude oil assets.
In addition, PAA has announced public offerings and pricing of senior unsecured notes under its shelf registration statement, explaining how proceeds may be used for purposes such as redeeming existing notes, funding acquisitions and general partnership purposes. Together, these news items provide investors and observers with a view into Plains’ operational performance, distribution practices, strategic asset sales and acquisitions, and capital markets activity. Bookmark this page to access an organized stream of PAA’s official news and regulatory communications.
Plains All American Pipeline (NYSE: PAA) reported third-quarter 2020 net income of $143 million and an Adjusted EBITDA of $682 million. The company completed the sale of LA Basin Terminals for $200 million, boosting asset sale proceeds to approximately $450 million this year. Full-year 2020 Adjusted EBITDA guidance is raised to around $2.585 billion, while a preliminary estimate for 2021 Adjusted EBITDA is $2.2 billion. Plains announced a $500 million common equity repurchase program to return capital to investors.
Plains All American Pipeline (NYSE: PAA) will report its third-quarter 2020 earnings on November 2, 2020, after market close. A joint webcast will follow at 5:30 p.m. ET. Key discussion points will include quarterly performance, liquidity, and financial guidance. Plans for future earnings releases throughout 2021 have also been disclosed, with the next scheduled for February 9, 2021. PAA operates a vast midstream energy infrastructure, handling over 6 million barrels per day in its Transportation segment.
Plains All American Pipeline announced its third-quarter 2020 cash distributions. PAA will distribute $0.18 per common unit, matching the previous quarter, amounting to $0.72 annualized. PAA's Series A Preferred Units will receive $0.525 per unit ($2.10 annualized), while the Series B Preferred Units will see a semi-annual distribution of $30.625. Payments are scheduled for November 13 and 16, 2020, respectively. PAA operates midstream energy infrastructure, managing over 6 million barrels per day of crude oil and natural gas liquids in the U.S. and Canada.