Plains All Amer Stock Price, News & Analysis

Plains All American Pipeline (PAA) will announce its first-quarter 2023 earnings on May 5, 2023, before market open. A joint webcast with Plains GP Holdings (PAGP) is scheduled for the same day at 10:00 a.m. ET. The call will address PAA's performance for the quarter, its capitalization and liquidity, and provide financial guidance for 2023. The accompanying presentation will be available on their website prior to the call. Following the live call, an audio replay and transcript will be accessible on their investor relations page. PAA operates a vast midstream energy infrastructure, handling over 7 million barrels per day of crude oil and natural gas liquids in North America.

On April 6, 2023, Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) announced their first quarter cash distributions, payable on May 15, 2023. PAA will distribute $0.2675 per Common Unit and PAGP $0.2675 per Class A Share, both unchanged from February 2023. PAA Series A Preferred Units will receive $0.58516, reflecting a pro-rated adjustment, while Series B Preferred Units will get $22.18 each. Notably, the PAGP distribution is expected to be a non-taxable return of capital up to the shareholder’s tax basis. PAA is a significant player in midstream energy, managing over 7 million barrels per day of crude oil and natural gas liquids across a vast pipeline network in North America.

On February 13, 2023, Plains All American (PAA) announced the successful closure of a transaction involving the sale of its non-operated interest in the Keyera Fort Saskatchewan facility to Keyera for approximately $367 million CAD ($271 million USD). This strategic move is expected to enhance connectivity to the Plains Fort Saskatchewan complex while achieving an attractive multiple. Plains All American specializes in midstream energy infrastructure, managing logistics services for crude oil and natural gas liquids.

Plains All American Pipeline (PAA) reported a net income of $263 million for Q4 2022 and $1.04 billion for the full year. Adjusted EBITDA for Q4 was $659 million, totaling $2.51 billion for the year. The company provided a 2023 outlook of $2.45 to $2.55 billion in Adjusted EBITDA and expects to generate $1.60 billion in Free Cash Flow. PAA announced a distribution increase of $0.20 to $1.07 per unit, effective February 2023. Additionally, a multi-year capital allocation framework was introduced to enhance shareholder returns and financial flexibility.

Plains All American Pipeline (PAA) will announce its fourth-quarter and full-year 2022 earnings on February 8, 2023, after market close. A joint webcast will be held at 5:30 p.m. ET, covering PAA's performance, capitalization, liquidity, and 2023 financial guidance. The event can be accessed via www.plains.com. PAA is a master limited partnership operating midstream energy infrastructure, managing over 7 million barrels per day of crude oil and NGL, while PAGP holds controlling interest in PAA.

Plains All American Pipeline (PAA) announced a quarterly cash distribution of $0.2675 per common unit for Q4 2022, marking a $0.05 increase from the previous distribution and a 23% annualized rise. The corresponding distribution for PAGP is also $0.2675 per Class A share. Additionally, PAA is paying $0.525 per Series A Preferred Unit and $22.27 for Series B Preferred Units, both payable in February 2023. PAA operates midstream energy infrastructure in North America, handling over 7 million barrels of crude oil and NGL per day.

Blake Fernandez has been appointed Vice President of Investor Relations at Plains All American Pipeline (PAA). This change follows the promotion of Roy Lamoreaux to Vice President of Communications, Sustainability, and Public Affairs. Fernandez brings over 20 years of energy finance experience, previously serving as Senior VP of Investor Relations at Delek U.S. Holdings. His hiring aims to enhance engagement with the financial community and bolster stakeholder relations. PAA operates a vast midstream energy infrastructure, managing over seven million barrels per day of crude oil and natural gas liquids.

Plains All American (Nasdaq: PAA) announced the sale of its 21% interest in the Keyera Fort Saskatchewan facility to Keyera Corporation for approximately $365MM CAD ($270MM USD). This transaction, pending regulatory approval, is expected to close in Q1 2023. CEO Willie Chiang noted that the proceeds will enhance financial stability and allow for potential reinvestment in the Plains Fort Saskatchewan facility. The sale maintains customer contracts and includes a leaseback of storage capacity for a transition period.

Plains All American Pipeline reported third-quarter 2022 net income of $384 million, with adjusted EBITDA attributable to PAA at $623 million. The company increased its full-year adjusted EBITDA guidance by $75 million to approximately $2.45 billion, driven by higher Permian tariff volumes and commodity prices. Plains achieved a leverage ratio of 4.0x, expecting a year-end ratio of 3.8x. Management plans a distribution increase from $0.87 to $1.07 per share starting February 2023. They aim for annualized increases of $0.15 until a targeted distribution coverage ratio of 160% is reached.