PAA Stock - Plains All American Pipeline, L.P.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $50.07B | $48.71B | $57.34B | $42.08B | $23.29B |
| Gross Profit | $1.72B | $2.76B | $1.89B | $1.74B | $1.13B |
| Gross Margin | 3.4% | 5.7% | 3.3% | 4.1% | 4.9% |
| Operating Income | $1.18B | $1.51B | $1.29B | $851.00M | $-2,375,000,000 |
| Net Income | $772.00M | $1.23B | $1.04B | $593.00M | $-2,590,000,000 |
| Net Margin | 1.5% | 2.5% | 1.8% | 1.4% | -11.1% |
| EPS | $0.73 | $1.40 | $1.19 | $0.55 | $-3.83 |
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars. This segment provides terminalling, storage, and other facilities-related services, as well as merchant activities. As of December 31, 2021, this segment owned and leased 18,300 miles of active crude oil transportation pipelines and gathering systems, as well as an additional 110 miles of pipelines that supports crude oil storage and terminalling facilities; 74 million barrels of commercial crude oil storage capacity; 38 million barrels of active, above-ground tank capacity; four marine facilities; a condensate processing facility; seven crude oil rail terminals and 2,100 crude oil railcars; and 640 trucks and 1,275 trailers. The Natural Gas Liquids segment engages in the natural gas processing, NGL fractionation, storage, transportation, and terminalling activities. As of December 31, 2021, this segment owned and operated four natural gas processing plants; nine fractionation plants; 28 million barrels of NGL storage capacity; approximately 1,620 miles of active NGL transportation pipelines, as well as an additional 55 miles of pipeline that supports NGL storage facilities; 16 NGL rail terminals and approximately 3,900 NGL rail cars; and approximately 220 trailers. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| July 25th 2025 | Wolfe Research | Downgrade | Peer Perform | - |
| January 10th 2025 | Scotiabank | Resumed | Sector Outperform | $23 |
| January 10th 2025 | Wolfe Research | Upgrade | Outperform | $22 |
| December 18th 2024 | Wells Fargo | Downgrade | Equal Weight | $20← $22 |
| October 25th 2024 | Morgan Stanley | Downgrade | Equal Weight | $19← $22 |
| October 17th 2024 | BofA Securities | Resumed | Neutral | $18 |
| April 8th 2024 | Scotiabank | Resumed | Sector Outperform | $23 |
| October 6th 2023 | Goldman | Resumed | Sell | $13.5 |
| September 25th 2023 | Barclays | Downgrade | Underweight | $15 |
| September 6th 2023 | Citigroup | Downgrade | Neutral | $15.5← $14 |
| April 21st 2023 | Raymond James | Upgrade | Strong Buy | $17← $16 |
| February 7th 2023 | Bernstein | Downgrade | Market Perform | - |
| December 9th 2022 | Citigroup | Initiation | Buy | $14 |
| November 21st 2022 | JP Morgan | Downgrade | Neutral | $14← $15 |
| August 15th 2022 | Stifel | Upgrade | Buy | $16← $14 |
Earnings History & Surprises
PAAEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 7, 2026 | — | — | — | — |
Q1 2026 | Feb 6, 2026 | $0.47 | — | — | — |
Q4 2025 | Nov 5, 2025 | $0.35 | $0.39 | +9.9% | ✓ BEAT |
Q3 2025 | Aug 8, 2025 | $0.32 | $0.36 | +11.0% | ✓ BEAT |
Q2 2025 | May 9, 2025 | $0.44 | $0.39 | -10.5% | ✗ MISS |
Q1 2025 | Feb 7, 2025 | $0.40 | $0.42 | +5.0% | ✓ BEAT |
Q4 2024 | Nov 8, 2024 | $0.31 | $0.37 | +19.3% | ✓ BEAT |
Q3 2024 | Aug 2, 2024 | $0.31 | $0.31 | 0.0% | = MET |
Q2 2024 | May 3, 2024 | $0.39 | $0.41 | +5.1% | ✓ BEAT |
Q1 2024 | Feb 9, 2024 | $0.37 | $0.42 | +13.5% | ✓ BEAT |
Q4 2023 | Nov 3, 2023 | $0.24 | $0.35 | +45.8% | ✓ BEAT |
Q3 2023 | Aug 4, 2023 | $0.24 | $0.25 | +4.2% | ✓ BEAT |
Q2 2023 | May 5, 2023 | $0.36 | $0.41 | +13.9% | ✓ BEAT |
Q1 2023 | Feb 8, 2023 | $0.34 | $0.33 | -2.9% | ✗ MISS |
Q4 2022 | Nov 2, 2022 | $0.28 | $0.33 | +17.9% | ✓ BEAT |
Q3 2022 | Aug 3, 2022 | $0.25 | $0.30 | +20.0% | ✓ BEAT |
Q2 2022 | May 4, 2022 | $0.32 | $0.31 | -3.1% | ✗ MISS |
Q1 2022 | Feb 9, 2022 | $0.28 | $0.25 | -10.7% | ✗ MISS |
Q4 2021 | Nov 2, 2021 | $0.23 | $0.22 | -4.3% | ✗ MISS |
Q3 2021 | Aug 3, 2021 | $0.24 | $0.23 | -4.2% | ✗ MISS |
Latest News
Morgan Stanley Maintains Equal-Weight on Plains All American, Raises Price Target to $21
➖ NeutralScotiabank Maintains Sector Outperform on Plains All American, Lowers Price Target to $19
➖ NeutralPlains All American Pipeline Prices $750M Debt Securities, Including $300M Senior Notes Due 2031, $450M Senior Notes Due 2036
➖ NeutralPlains All American Q3 Adj. EPS $0.39 Beats $0.36 Estimate, Sales $11.578B Miss $12.398B Estimate
➖ NeutralRaymond James Reiterates Strong Buy on Plains All American, Lowers Price Target to $22
📈 PositiveBarclays Maintains Underweight on Plains All American, Lowers Price Target to $17
📉 NegativeJP Morgan Maintains Neutral on Plains All American, Lowers Price Target to $20
➖ NeutralScotiabank Maintains Sector Outperform on Plains All American, Raises Price Target to $20
📈 PositiveReported Earlier, Plains All American Prices $1.25B Senior Notes Offering Including $700M 4.70% Due 2031 And $550M 5.60% Due 2036
📈 PositivePlains All American Pipeline And Plains GP Holdings To Acquire 55% Interest In EPIC Crude Holdings, LP From Diamondback And Kinetik Subsidiaries; Transaction Valued At ~$1.57B Inclusive Of $600M In Debt, Plains Agrees To Potential $193M Earnout
📈 PositiveMorgan Stanley Maintains Equal-Weight on Plains All American, Lowers Price Target to $20
➖ NeutralFrequently Asked Questions about PAA
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