Plains All Amer Stock Price, News & Analysis

Plains All American Pipeline, L.P. (PAA) announced its quarterly cash distribution of $0.18 per common unit for Q1 2021, consistent with the previous payment. The Series A Preferred Units will receive a distribution of $0.525 per unit, while Series B Preferred Units will see a semi-annual distribution of $30.625, both payable in May 2021. The distributions represent non-taxable returns of capital up to the shareholders' tax basis, with excess amounts taxable as capital gains. PAA operates extensive midstream energy infrastructure across North America.

On March 1, 2021, Plains All American Pipeline (PAA) announced the promotion of Jeremy Goebel to Executive Vice President and Chief Commercial Officer, as part of its succession plans. Goebel, who has over 20 years of experience in energy and investment banking, has been with PAA for eight years in roles of increasing responsibility. He will oversee commercial activities across the U.S. and Canada, continuing to report to President Harry Pefanis. PAA operates extensive midstream energy infrastructure, handling over 6 million barrels per day in its Transportation segment.

On February 9, 2021, Plains All American Pipeline (PAA) announced its Q4 and full-year 2020 results, reporting a net loss of $28 million for Q4 and $2,590 million for the full year, largely due to $3.4 billion in non-cash impairment charges. However, the company achieved $258 million in operational cash flow for Q4 and $1,514 million for the full year. PAA's Adjusted EBITDA was $559 million for Q4 and $2,560 million for the full year. The company anticipates 2021 free cash flow of approximately $300 million, with an increased asset sale target of $750 million.

Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) will release their Q4 and full-year 2020 earnings after market close on February 9, 2021. A joint webcast will take place on the same day at 5:30 p.m. ET. Key topics to discuss include PAA's financial performance, capitalization, and operating guidance. The presentation and audio replay will be available on their website. PAA is a leading midstream energy company handling over 6 million barrels per day of crude oil and NGL.

Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) announced their quarterly distributions for Q4 2020. PAA's cash distribution remains at $0.18 per common unit ($0.72 annualized), mirroring November 2020 levels. Similarly, PAGP maintains a distribution of $0.18 per Class A share ($0.72 annualized). PAA also declared a quarterly cash distribution of $0.525 for its Series A Preferred Units, totaling $2.10 annually. Distributions are payable on February 12, 2021, to record holders as of January 29, 2021, with PAGP's distribution potentially classified as a non-taxable return of capital.

Plains All American Pipeline (NYSE: PAA) and Plains GP Holdings (NYSE: PAGP) will voluntarily transfer their stock listings from the New York Stock Exchange to Nasdaq on December 11, 2020, with trading set to begin on December 14, 2020. This strategic move aims to reduce costs, as stated by CEO Willie Chiang. PAA operates a significant midstream energy infrastructure, handling over 6 million barrels per day of crude oil and NGL across the U.S. and Canada. The transition reflects Plains’ commitment to enhancing operational efficiency.

Plains All American Pipeline (PAA) has approved a $500 million common equity repurchase program to return capital to investors. The company aims to enhance shareholder value while reducing leverage through this initiative. Chairman and CEO Willie Chiang emphasized the strength of PAA's asset base and the expected generation of significant Free Cash Flow after distributions. The program allows for repurchases via open market transactions, with no set time limit for completion, and aims to optimize capital allocation in line with financial performance and market conditions.

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.