Plains All American (NASDAQ:PAA) Stock

Plains All American

Plains All American Pipeline LP through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and barges or railcars. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminalling. It generates the majority of its revenue from the Crude Oil segment.

Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests

Plains All American Pipeline LP

PGIM ETF Trust PGIM AAA CLO ETF

NEURIZON THERAPEUTICS LTD by NEURIZON THERAPEUTICS LTD.

Neurizon Therapeutics Ltd

Pan American Energy Corp Ordinary Shares - New

PAN AMERN ENERGY CORP by Pan American Energy Corp.

Pan American Energy Corp

PLAINS ALL AMRN UT PFD A by Plains All American Pipeline, L.P.

Pan American Silver Corp

Plains All American's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NYSE">PAA</a>) short percent of float has risen 16.5% since its last report. The company recently reported that it has 10.81 million shares sold short, which is 2.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.21 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Plains All American Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1750687225_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Plains All American has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Plains All American's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Plains All American's peer group average for short interest as a percentage of float is 3.07%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

How Do Investors Really Feel About Plains All American?

Mizuho analyst Gabriel Moreen maintains Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) with a Outperform and raises the price target from $20 to $22.

News

Price Target

Analyst Ratings

Mizuho Maintains Outperform on Plains All American, Raises Price Target to $22

WIIM

Plains All American Pipeline shares are trading higher after the company and Plains GP Holdings announced it will sell substantially all of its NGL business to Keyera. Also, JP Morgan maintained a Neutral rating on the stock and raised its price target from $19 to $20.

JP Morgan analyst Jeremy Tonet maintains Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) with a Neutral and raises the price target from $19 to $20.

JP Morgan Maintains Neutral on Plains All American, Raises Price Target to $20

Plains All American Pipeline, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) and Plains GP Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAGP#NASDAQ">PAGP</a>) (collectively, &quot;Plains&quot;) announced today that it has executed definitive agreements with Keyera Corp. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/KEY#TSX">KEY</a>) (&quot;Keyera&quot;) pursuant to which Plains will sell substantially all of its NGL business to Keyera for a total cash consideration of approximately $5.15 Billion CAD ($3.75 Billion USD).
The transaction is expected to close in the first quarter of 2026, and is subject to customary closing conditions, including regulatory approvals. As a result of the transaction, Plains will divest its Canadian NGL business but will retain substantially all NGL assets in the United States and will also retain all crude oil assets in Canada.
As of June 30, 2025, Plains will re-classify the NGL assets associated with the transaction as discontinued operations.

PAGP

Plains All American And Plains GP Holdings Execute Definitive Agreements To Sell NGL Business To Keyera For ~$3.75B

Welcome to the Easy Income update for June. The markets remain volatile, though perhaps not as volatile as they were in April during the announcement of Liberation Day tariffs. The market has recovered 1.6 percent, a solid comeback. Over the last week, we have been essentially flat.
Bonds have not kept pace with stocks. We have attempted to generate movement in the bond market, but every time it tries to rally, economic news knocks it back down. We are up about a percent for the week in bonds, which represents all of the stock returns for the last month since May 15th. Much of that return was driven by the consumer price index and producer price index reports that emerged earlier this week.
Interest Rates and Geopolitical Developments Interest rates remain steady, but the big curveball this week was Iran and Israel. Israel attacked Iran, Iran fired back, yet this has not led to a dramatic rally in Treasury prices or the US dollar as it might have just last year. The high degree of uncertainty around trade and commerce continues to weigh on markets.
The president has announced that we will levy tariffs. I believe it is July 9th when he will send letters over the next couple of weeks (hopefully by the end of next week) to nations around the world, informing them of their new tariff rates. No more discussion. This is simply what it will be.
Federal Reserve Outlook We have a Fed decision coming this month, though there probably will not be any action in June. The Fed has essentially telegraphed they will not act. Had we seen a truly bad jobs reading, unemployment claims report, or other economic indicator giving them reason to think the economy was slowing rapidly and required lower rates, they might have acted. We did not get that. CPI and PPI came in lower than expected but remained above the Fed&#8217;s two percent target.
More importantly, when examining CPI prices, everything increased to varying degrees: rent, shelter, car insurance, except energy and energy-related commodities. Gas prices provided a significant boost, falling considerably during the month. Add energy back in, and inflation rates would have had the Fed seriously considering raising interest rates in the coming weeks, not lowering them as the president desperately wants.
I believe (trying to recall what he called Powell this time, whether it was &#8220;moron,&#8221; &#8220;stupid,&#8221; or &#8220;idiot,&#8221; something along those lines) he demanded one hundred basis points, roughly four months of rate cuts at once, to spur economic growth. Powell correctly sat on his hands because the primary fear must be reigniting inflation by cutting rates prematurely.
Economic Fundamentals The economy is actually in decent shape. Unemployment numbers remain solid, though we must monitor continuing claims hitting cycle highs, meaning people stay unemployed longer. The Challenger Gray Report shows impending layoffs. All federal government employees with expiring employment agreements will hit the market later this month, followed by deferred retirees entering the rolls in September and October.
Current hard numbers look good, but looking ahead several months, unemployment claims could easily jump. Another serious concern for the US economy: we witnessed over 300,000 quits and removals from the workforce by foreign workers through legal means. These workers are critical to meeting job demand across several industries. If they continue departing due to fears about current US immigration policy, it will create labor shortages that drive inflation higher.
Powell made the right call. He did nothing. The president does not like it. He is a real estate guy who will never like anything that does not involve lowering rates at every Fed meeting forever. Obviously, that will not happen anytime soon.
Portfolio Changes In our Easy Income portfolio, yield has remained high while volatility stays relatively low. We are raising the yield this month with one portfolio change. We rarely make changes, but I want to move away from XBB, the completely unmanaged BB index, and swap it for InfraCap Capital&#8217;s bond ETF corporate bond BNDS: also high quality, high yield with an average rating around triple B.
I see minimal triple C paper or junk in the portfolio holdings. They hold some high-quality preferred stocks, but this is essentially high-quality, high-yield where Jay Hatfield and his team have done the credit work. He approaches credit analysis almost exactly as I do. I have tremendous faith in his portfolio management approach.
Portfolio Holdings Analysis The top holdings are bonds I know well, having completed credit analysis on many that I own and have recommended:
<ul class="wp-block-list">
<li>Plains All-American (Ticker: PAA) The pipeline company</li>
<li>Crescent Energy Finance (Ticker: CRGY) The oil and gas partnership between John Goff and Kohlberg Kravis Roberts</li>
<li>Charter Communications (Ticker: CHTR) A company we paid substantial monthly fees to until leaving Florida (we own the stock in another portfolio, have completed credit work, understand the outlook and impending spinoff, all positive for the debt)</li>
<li>Organon (Ticker: OGN) A Merck spinoff from several years ago focused on female healthcare products (excellent company with strong cash flow)</li>
<li>Lincoln National (Ticker: LNC) One of the country&#8217;s finest insurance companies (their headquarters sits ten minutes from here in light traffic, convenient for any necessary discussions)</li>
<li>Flagstar Financial (Ticker: FLG) The renamed New York Community Bank, which I like, have recommended, and own (we hold shares of that particular preferred stock)</li>
<li>Land O&#8217;Lakes: The butter company</li>
</ul>
This combination delivers monthly dividends with experienced management that understands credit and economics. We are getting slightly over eight percent yield, replacing a 5.8 percent yield with over eight percent.
Management Perspective I spoke with Jay Hatfield recently. He expects Fed rate cuts in the second half of 2025, probably correct unless we see higher inflation, higher energy prices from prolonged Iran-Israel conflict, or tariff war expansion.
The bond market has stabilized following the Liberation Day sell-off, though it is not rallying. Hatfield believes Treasury yields will remain between 4.25 and 4.5 percent over the coming months. He doubts the ten-year will stay above 4.5 percent long because that means seven percent mortgage rates, which would damage housing demand and force earlier Fed action.
Like me, he believes credit fundamentals for high-quality, high-yield remain very strong even under mild recession scenarios when excluding obvious junk. Most BNDS portfolio companies are asset-sensitive, old-economy businesses: oil and gas pipelines, real estate, industrials, and banks with stable cash flows. The key: extremely low default risk.
Risk Management Strategy
Default risk represents the major challenge with high-yield bonds. If we can underwrite most of that risk away, we deliver solid total returns—exactly what Hatfield accomplishes. The market prices in more risk than Hatfield believes exists, and he anticipates potential rate cuts providing additional tailwinds by lowering treasury base rates.
The fund targets mispriced high-yield bonds and preferred stocks where rating agencies are overly pessimistic, just as I have done for thirty-five to forty years. Rating agencies make static assumptions and poorly understand real estate, banking, or oil and gas pipeline industries, consistent with my three decades of findings. Hatfield excellently exploits these inefficiencies in ETF format.
By focusing on underappreciated credits, the portfolio generates yields modestly higher than the general high-yield market without additional risk. That is where we capture the extra 220 basis points: through credit underwriting. He also includes some preferred stocks (under twenty percent of the portfolio) that provide a nice yield boost.
We are excited about this swap. Hatfield employs one additional strategy I appreciate: they own positions in high-yield indexes and, when appropriate, sell covered calls against them for extra income. They are not doing much of this currently but are permitted to do so and have succeeded with it in other funds.
Trade Recommendation: Sell (Ticker: XBB) not because it is a poor product, but because we can capture 220 basis points without reaching or stretching by adding modest leverage and superior underwriting to high-quality, high-yield bond selection. Sell XBB, buy BNDS first thing Monday morning.
Economic Outlook The economy is fundamentally sound, though we will probably see a summer slowdown. Too much uncertainty exists to avoid this. Businesses do not know how tariffs will affect their operations or raw material sourcing. They are postponing hiring, delaying, or eliminating capital expenditures, and avoiding expansion: essentially treading water.
The uncertainty index from the National Federation of Independent Businesses shows the highest reading ever since tracking began in 1975. Considering everything that has negatively impacted the world and economy since 1975 that would frighten, unnerve, and paralyze small business owners, this highest-ever reading demonstrates how much tariff and trade war possibilities concern American small business owners.
This will likely trigger a late-year slowdown. If tariffs are implemented at White House-suggested levels, we will almost certainly see inflation. Expect mild to moderate stagflation sometime over the summer, possibly into fall, with interest rate cuts becoming more likely once we have trade clarity toward year-end or early next year.
Sector Exposures Our biggest exposures are well-distributed (we are not overcommitted anywhere) but include oil and gas exposure through pipeline companies, pipeline closed-end funds, and oil and gas royalty trusts. Obviously, the war sparked a huge Friday crude oil rally. Continued conflict will drive prices higher.
Long-term, remember that even if Chinese demand remains weak and OPEC increases production, oil and gas demand will keep rising. As long as demand exists, product will flow through infrastructure: pipelines, gathering centers, shipping terminals, the assets we own in closed-end funds. We will collect those fees and that money will keep flowing.
We will continue extracting from the ground, though US oil and gas production probably will not change significantly over the next year or two: no economic incentive exists to fully open the throttles. But as long as production continues, we collect royalties. Natural gas demand in particular will remain very strong from electrification initiatives with an AI component that we expect to continue growing.
We are not concerned about recent weakness in oil and gas-related assets. We consider this complete market mispricing, largely offset by gains in other fund assets.
Real Estate Markets Examining the Mortgage Bankers Association data (we maintain mortgage exposure), no major changes are coming in residential mortgages. Default rates are not rising. According to the Mortgage Brokers Association, we probably will not see mortgage rates fall meaningfully below six percent for several years. Rates will generally stay around current levels with some political and other volatility, but barring serious economic problems spurring refinancing waves, we will not see dramatic mortgage rate declines.
Current coupon mortgages being purchased now are solid, unlikely to change significantly, and will continue producing high income levels, making our residential mortgage assets more attractive.
Regarding commercial real estate, KKR reported last week: &#8220;This is perfect. We love being real estate debt investors here. Prices across all real estate classifications are showing improvement signs. This is when we want to aggressively be the lender of last resort with solid underwriting and loan-to-value ratios because we are still collecting nice premiums to older rates—we get paid to take the risk.&#8221;
Asset class collateral is stabilizing across all sectors, including office. Last month, conversions from offices to condos, laboratories, and medical facilities, plus demolitions, exceeded total new office buildings coming online in the United States. We are destroying supply. Class A buildings we lend on through our assets will see steady demand at eighty to ninety percent occupancy rates that will continue rising, at the expense of lower-end properties. Our mortgage assets primarily handle new and transaction financing, not the assets facing elimination.
Even commercial real estate&#8217;s most troubled segment is improving, making our commercial real estate mortgage investments increasingly attractive.
Risk Factors The biggest potential disruptions are war: obviously, continued conflict will spike interest rates and inflation, though our oil and gas assets will largely offset this within the portfolio. Tariffs and related political noise will remain problematic.
If we can reach deals or compromises that allow the administration to feel comfortable backing away from aggressive tariff implementation, and achieve some resolution and certainty, everything will stabilize at levels that do not negatively impact financial markets.
Portfolio Diversification This portfolio structure includes US bank subordinated debt that trades differently than our oil and gas infrastructure. Business development companies operate under completely different conditions than Indonesian and Australian government bonds. Closed-end fund arbitrage funds (we own several) do their own thing and generate monthly cash. Risk transfer securities on European and US banks behave completely differently than oil and gas royalty markets.
We own numerous uncorrelated assets. Some zig, others zag, smoothing volatility. They share one trait: consistent high cash flow streams, much of it monthly. Cash constantly flows through our accounts, further dampening volatility, filling our pockets, and creating reinvestment opportunities.
Conclusion That covers the June Easy Income portfolio update. This portfolio performs exactly as intended. It is easy.
&nbsp;We are performing at a very high level with most performance paid in cash, and volatility remains at sleep-well-at-night levels.
Thanks, folks. We will return next month with the July update.

Opinion

CHTR

CRGY

Easy Income Portfolio: June 2025 Update

ACDC

BROG

TRGP

Shares of energy companies are trading higher following a favorable U.S. jobs report and renewed trade talks between President Trump and Chinese leader Xi Jinping, boosting hopes for economic growth in the world's two largest economies.

In the preceding three months, 7 analysts have released ratings for Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>), presenting a wide array of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Plains All American, presenting an average target of $19.71, a high estimate of $23.00, and a low estimate of $18.00. This current average has decreased by 2.14% from the previous average price target of $20.14. 
<img src="https://www.benzinga.com/files/images/story/2025/1749132035_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A comprehensive examination of how financial experts perceive Plains All American is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brandon Bingham</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$19.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Gabriel Moreen</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Scott Hanold</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$20.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Spiro Dounis</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Brandon Bingham</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Theresa Chen</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$18.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Robert Kad</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$23.00</td>
<td>$19.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Plains All American. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Plains All American compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Plains All American's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Plains All American's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/PAA/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Plains All American analyst ratings.</a>
<h2>Discovering Plains All American: A Closer Look</h2>
Plains All American Pipeline LP through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and barges or railcars. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminalling. It generates the majority of its revenue from the Crude Oil segment.
<h3>Plains All American: Delving into Financials</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Plains All American's remarkable performance in 3M is evident. As of 31 March, 2025, the company achieved an impressive revenue growth rate of 0.13%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 2.86%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 3.53%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Plains All American's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.28%, the company showcases efficient use of assets and strong financial health.
Debt Management: Plains All American's debt-to-equity ratio is below the industry average at 0.93, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Assessing Plains All American: Insights From 7 Financial Analysts

Scotiabank analyst Brandon Bingham maintains Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) with a Sector Outperform and lowers the price target from $20 to $19.

Scotiabank Maintains Sector Outperform on Plains All American, Lowers Price Target to $19

Plains All American's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NYSE">PAA</a>) short percent of float has fallen 3.85% since its last report. The company recently reported that it has 9.29 million shares sold short, which is 2.0% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.22 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Plains All American Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748530863_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Plains All American has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Plains All American's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Plains All American's peer group average for short interest as a percentage of float is 3.62%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Is the Market Bullish or Bearish on Plains All American?

Mizuho analyst Gabriel Moreen maintains Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) with a Outperform and lowers the price target from $21 to $20.

Mizuho Maintains Outperform on Plains All American, Lowers Price Target to $20

RBC Capital analyst Scott Hanold reiterates Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) with a Sector Perform and maintains $20 price target.

Reiteration

RBC Capital Reiterates Sector Perform on Plains All American, Maintains $20 Price Target

5 analysts have shared their evaluations of Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $20.2, with a high estimate of $23.00 and a low estimate of $18.00. A decline of 1.94% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2025/1747173665_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A clear picture of Plains All American's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Spiro Dounis</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Brandon Bingham</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Theresa Chen</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$18.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Robert Kad</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$23.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Brandon Bingham</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$22.00</td>
<td>$23.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Plains All American. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Plains All American compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Plains All American's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Plains All American's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PAA/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Plains All American analyst ratings.</a>
<h2>Unveiling the Story Behind Plains All American</h2>
Plains All American Pipeline LP through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and barges or railcars. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminalling. It generates the majority of its revenue from the Crude Oil segment.
<h3>Breaking Down Plains All American's Financial Performance</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Plains All American's remarkable performance in 3M is evident. As of 31 March, 2025, the company achieved an impressive revenue growth rate of 0.13%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Energy sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Plains All American's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 2.86%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Plains All American's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 3.53%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Plains All American's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.28%, the company may face hurdles in achieving optimal financial returns.
Debt Management: With a below-average debt-to-equity ratio of 0.93, Plains All American adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: What Are They?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Plains All American Stock

Citigroup analyst Spiro Dounis maintains Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) with a Neutral and lowers the price target from $21 to $18.

Citigroup Maintains Neutral on Plains All American, Lowers Price Target to $18

CIVI

CLNE

CSAN

GPRE

HNRG

MPLX

VTLE

Shares of oil and gas companies are trading higher amid US-China trade progress, President Trump's Middle East trip and softer-than-expected April inflation figures, which could lift demand sentiment.

ARIS

CHRD

FANG

LBRT

PTEN

PUMP

VIST

WFRD

Shares of energy stocks are trading higher amid a rise in the price of oil after the US and China agreed to a temporary reduction in most tariffs. The commodity may be experiencing strength amid escalating conflict between Pakistan and India.

Scotiabank analyst Brandon Bingham maintains Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) with a Sector Outperform and lowers the price target from $21 to $20.

Scotiabank Maintains Sector Outperform on Plains All American, Lowers Price Target to $20

U.S. stock futures jumped on Monday after a muted day of trade on Friday. Futures of major benchmark indices were trading over 2% in premarket.
U.S. and China announced a <a href="https://www.benzinga.com/markets/equities/25/05/45341884/apple-amazon-nvidia-rise-in-monday-premarket-as-us-china-agree-to-90-day-tariff-truce-neither-side-wants-a-decoupling">90-day truce</a> to pause the reciprocal tariffs on Monday and revised it from 125% to 10%.&nbsp;This comes after the White House and Chinese officials signaled significant <a href="https://www.benzinga.com/news/global/25/05/45337811/trump-announces-total-reset-as-us-china-trade-talks-aim-to-end-tariff-war">headway in trade negotiations</a> held in Geneva over the weekend.
The U.S. will maintain its 20% tariffs on Chinese imports linked to fentanyl, keeping the overall tariff level on China at 30%. "We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process,&#8221; said the Treasury Secretary Scott Bessent after the talks.
The U.S.-China joint statement also indicated Beijing&#8217;s agreement to suspend or remove all non-tariff countermeasures implemented since April 2, including sanctions on specific U.S. firms and export limits on crucial minerals, according <a href="https://www.scmp.com/economy/global-economy/article/3309975/china-us-reduce-majority-tariffs-after-first-round-trade-talks?module=top_story&amp;pgtype=homepage">to</a> the South China Morning Post.
Meanwhile, the 10-year Treasury bond yielded 4.44% and the two-year bond was at 3.98%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>&#8216;s projections show markets pricing a 92.1% likelihood of the Federal Reserve keeping the current interest rates unchanged in its June meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>2.12%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>2.76%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>3.68%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>3.16%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were slightly higher in premarket on Monday. The SPY was up 2.74% to $579.80, while the QQQ advanced 3.81% to $506.54, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Energy, real estate, consumer discretionary, and materials sectors advanced on Friday. While health care, communication services, consumer staples, and information technology sectors declined.
On the company-specific front, EchoStar Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>) rose 1.43% on Friday after reporting quarterly sales of $3.87 billion, down 3.6% year-over-year, in line with the Street view.
Plains All American Pipeline LP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) fell nearly 3% after it reported first-quarter revenue of $12.011 billion, missing the consensus of $14.26 billion. Adjusted EPS was 39 cents, missing the consensus of 43 cents.
The Dow Jones index declined 119 points or 0.29% to 41,249.38, whereas the S&amp;P 500 index fell 0.071% to 5,659.91. Nasdaq Composite ended 0.004% higher at 17,928.92, and the small-cap gauge, Russell 2000, dropped 0.16% to 2,023.07.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.004%</td>
<td>17,928.92</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.071%</td>
<td>5,659.91</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.29%</td>
<td>41,249.38</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.16%</td>
<td>2,023.07</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
After last week, 90% of the S&amp;P 500 companies have reported quarterly results, and the performance has been strong relative to expectations, said Brian Therien, the investment strategist at Edward Jones.
Seventy-eight percent have beaten analyst estimates, with an average upside surprise of 8.6%, he highlighted. Forecasts for first-quarter earnings growth of S&amp;P 500 companies have been revised higher to 13.2%, from 6.7% at the end of the quarter.
Performance has been broad, with eight of the 11 sectors forecast to report higher earnings year-over-year.
&#8220;Wider earnings growth should drive more balanced market performance across sectors, strengthening the case for portfolio diversification, in our view,&#8221; Therien added.
Charles Schwab said in a note that they are maintaining a neutral &#8220;marketperform&#8221; rating on all sectors, a shift it made in April after the White House announced broad-reaching tariffs on imports.
&#8220;Uncertainty about the ultimate level and timing of the tariffs has made it difficult to assert a view on which sectors might outperform or underperform the S&amp;P 500 index, so we are holding all sector ratings at Marketperform until we have more clarity on trade policy,&#8221; the note stated.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures </a>
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on this week:
<ul class="wp-block-list">
<li>On Monday, Fed Governor Adriana Kugler will speak at 10:20 a.m., and April&#8217;s monthly U.S. federal budget data will be released by 2:00 p.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>On Tuesday, April&#8217;s NFIB optimism index will be out by 6:00 a.m., whereas headline and core CPI data for April will be released by 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>On Wednesday, Fed Governor Christopher Waller will speak at 5:15 a.m., Fed Vice Chair Philip Jefferson will speak at 9:10 a.m., and San Francisco Fed President Mary Daly will speak at 5:40 p.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>On Thursday, the initial jobless claims data for the week ended May 10 will be out by 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>April&#8217;s U.S. retail sales, core and headline producer price index, May&#8217;s Empire State manufacturing survey, and Philadelphia Fed manufacturing survey will also be announced at 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>Fed Chairman Jerome Powell will speak at 8:40 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>April&#8217;s industrial production and capacity utilization will be out by 9:15 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>March&#8217;s business inventories data and May&#8217;s home builder confidence index will be released by 10:00 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>Fed Governor Michael Barr will speak at 2:05 p.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>On Friday, April&#8217;s import price index, housing starts, and building permit data will be released by 8:30 a.m. ET.</li>
</ul>
<ul class="wp-block-list">
<li>The preliminary consumer sentiment for May will be released by 10:00 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul class="wp-block-list">
<li>Fox Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) rose 0.52% in premarket on Monday as it is expected to report earnings before the opening bell. Analysts expect a quarterly earnings of 91 cents per share on the revenue of $4.18 billion.</li>
</ul>
<ul class="wp-block-list">
<li>NRG Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) jumped 3.08% as Wall Street expects it to report earnings of $1.49 per share on revenue of $7.83 billion. before the opening bell.</li>
</ul>
<ul class="wp-block-list">
<li>Southwest Gas Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWX#NYSE">SWX</a>) dropped 4.85% ahead of its earnings. Analysts expect earnings of $1.50 per share on revenue of $1.50 billion.</li>
</ul>
<ul class="wp-block-list">
<li>Davita Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>) was up 2.94% as Wall Street expects it to report earnings of $1.95 per share on revenue of $3.21 billion after the closing bell.</li>
</ul>
<ul class="wp-block-list">
<li>Hawaiian Electric Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) was 0.095% above the flatline after it reported first-quarter earnings of 23 cents per share, in line with market estimates. The company reported $744.07 million in sales during the quarter.</li>
</ul>
<ul class="wp-block-list">
<li>Rio Tinto PLC ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) was up 2.93% after it signed a definitive agreement for the Winu project joint venture with Sumitomo Metal Mining.</li>
</ul>
<ul class="wp-block-list">
<li>Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>) slumped 6.65% after announcing an agreement to acquire MAG Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAG#NYSE">MAG</a>), which was up 6.62% in premarket.</li>
</ul>
<ul class="wp-block-list">
<li>Alibaba Group Holding Ltd. ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) was up 7.18%, JD.Com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) jumped 6.05%, Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) advanced 4.64%, whereas PDD Holdings Inc. ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) gained 8.24% along with other Chinese peers amid the ongoing U.S.-China talks on tariff reductions.</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading higher in the early New York session by 2.85% to hover around $62.76 per barrel.
Gold Spot US Dollar fell 2.74% to hover around $3,233.54 per ounce. Its last record high stood at $3,500.33 per ounce. The U.S. Dollar Index spot was higher by 1.10% at the 101.4460 level.
Asian markets ended higher on Monday as India's S&amp;P BSE Sensex, South Korea's Kospi, China&#8217;s CSI 300, Japan's Nikkei 225, Australia's ASX 200, and Hong Kong's Hang Seng index rose. European markets were also higher in early trade.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/05/45340465/bill-ackman-slams-subsidies-for-contributing-to-37-trillion-national-debt-hails-trumps-drug-price-order">Bill Ackman Slams Subsidies For Contributing To $37 Trillion National Debt, Hails Trump&#8217;s Drug Price Order </a></li>
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Image via Shutterstock

Analyst Color

Asia

Earnings

Earnings Beats

Earnings Misses

Equities

Government

Macro Economic Events

Macro Notification

Market Summary

Regulations

Bonds

Broad U.S. Equity ETFs

Guidance

Emerging Markets

Eurozone

Futures

Commodities

Forex

Treasuries

Economics

Federal Reserve

Pre-Market Outlook

Markets

ETFs

General

BABA

BIDU

FOXA

PAAS

Citigourp Global Markets 2% Protected Notes Linked To The Djia

SATS

US Stock Futures Rise As US, China Agree To 90-Day Tariff Pause: 'Wider Earnings Growth Should Drive More Balanced Market Performance,' Says Expert

Plains All American Pipeline, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) shares are trading lower on Friday. The company reported&nbsp;first-quarter revenue of&nbsp;$12.011 billion,&nbsp;<a href="https://www.benzinga.com/pressreleases/25/05/g45314575/plains-all-american-reports-first-quarter-2025-results" target="_blank" rel="noreferrer noopener">missing the consensus of&nbsp;$14.26 billion</a>.
Adjusted EPS was 39 cents, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missing the consensus of 43 cents</a>.
The adjusted EBITDA attributable to PAA rose 5%&nbsp;Y/Y to&nbsp;$754&nbsp;million. The Crude Oil Segment Adjusted EBITDA grew&nbsp;1% Y/Y to&nbsp;$559 million on higher tariff volumes, escalations, and contributions from acquisitions.
Also Read: <a target="_blank" href="https://www.benzinga.com//node/45194533" rel="noreferrer noopener">Sunoco Fuels Up With $9.1B Parkland Deal, Eyes 10% Cash Flow Bump</a>
NGL segment Adjusted EBITDA upped 19% YoY to&nbsp;$189 million, led by higher weighted average frac spreads and NGL sales volumes.
The company ended the year with a 3.3x leverage ratio. PAA&#8217;s operating cash flow for the quarter was&nbsp;$639&nbsp;million compared to&nbsp;$419 million.
2025&nbsp;Outlook: Plains All American continues to see adjusted EBITDA attributable to PAA of&nbsp;$2.80 billion&nbsp;to&nbsp;$2.95 billion, with&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">adjusted free cash flow of&nbsp;$1.095 billion</a>.
Plains All American expects the leverage target range of 3.25x to 3.75x. The company targets annual growth capital expenditure of around $300 million to $400 million.
Willie Chiang, Chairman and CEO of Plains, said, &#8220;Substantial cash flow generation from our integrated Crude Oil and NGL footprints coupled with a strong balance sheet positions us well through a time of market volatility and uncertainty.&#8221;
&#8220;Our focus on efficient growth remains consistent with the addition of two new bolt-on acquisitions and our Fort Saskatchewan fractionation complex debottleneck project now in service.&#8221;
Investors can gain exposure to the stock via&nbsp;InfraCap MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMZA#NYSE">AMZA</a>) and&nbsp;Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>).
Price Action: PAA shares are down 1.59% to $16.67 at the last check on Friday.
Read Next:
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<li><a href="https://www.benzinga.com/25/05/45312253/us-stocks-trade-mixed-after-three-day-gain-as-us-uk-strike-trade-deal-tariffs-are-steering-the-boat-again-says-expert" target="_blank" rel="noreferrer noopener">US Stock Futures Flicker Between Gains And Losses After Strong Three-Day Run: &#8216;Tariffs Are Steering The Boat Again,&#8217; Says Expert</a></li>
</ul>
Image by fotokaleinar via Shutterstock

Large Cap

AMLP

AMZA

Plains All American's Q1: Earnings Down, But NGL Strength Lifts EBITDA

Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) reported quarterly earnings of $0.39 per share which missed the analyst consensus estimate of $0.43 by 9.3 percent. This is a 4.88 percent decrease over earnings of $0.41 per share from the same period last year. The company reported quarterly sales of $12.01 billion which missed the analyst consensus estimate of $14.26 billion by 15.76 percent. This is a 0.13 percent increase over sales of $11.99 billion the same period last year.

Plains All American Q1 Adj. EPS $0.39 Misses $0.43 Estimate, Sales $12.01B Miss $14.26B Estimate

Dividends

Press Releases

Plains All American Announces Bolt-on Acquisitions, Capital Structure Optimization & Distribution Increase

Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of Fourth Quarter 2024 Earnings

EnCap Flatrock Midstream Completes Two Transactions with Plains All American

Plains All American Announces Pricing of Public Offering of $1 Billion of Senior Notes

Plains All American Reports Fourth-Quarter and Full-Year 2024 Results; Provides Update on Efficient Growth Initiatives and Announces 2025 Guidance

Infrastructure Capital Bond Income ETF Seeks To Provide High Yield With Stock Returns

Management

Plains Announces Retirement of President Harry Pefanis and Assignment Updates to Board of Directors

Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of First Quarter 2025 Earnings

Plains All American Reports First-Quarter 2025 Results

Contracts

Plains All American Executes Definitive Agreements for $3.75 Billion Sale of NGL Business to Keyera

TSX:KEY

Antero Midstream Corporation Common Stock

Antero Midstream

Cheniere Energy Partners, LP Common Units

Cheniere Energy Partners

Delek Logistics Partners, L.P. Common Units representing Limited Partner Interests

Delek Logistics Partners

DT Midstream

Enterprise Products Partners L.P. Common Stock

Enterprise Prods Partners

Energy Transfer

Frontline

Genesis Energy

Golar LNG

Hafnia

Hess Midstream LP Class A Representing Limited Partner Interests

Hess Midstream

International Seaways

Kinder Morgan

Kinetik Holdings Inc. Class A Common Stock

Kinetik Holdings

Cheniere Energy

MPLX LP Common Units Representing Limited Partner Interests

NextDecade

ONEOK

Plains GP Holdings, L.P. - Class A Shares representing limited partner interests

Plains GP Holdings

Scorpio Tankers

Transportadora de Gas del Sur SA TGS Common Stock

Transportadora de Gas

Targa Resources

Ultrapar Participacoes S.A. (New) American Depositary Shares (Each representing one Common Share)

Ultrapar Participacoes

Western Midstream Partners, LP Common Units Representing Limited Partner Interests

Western Midstream

Williams Companies, Inc. (The) Common Stock

Williams Companies

Mizuho

JP Morgan

Scotiabank

RBC Capital

Citigroup

Plains All Amer

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BNDS

PFFA

BNDS ETF Aims To Offer High Yield In Low-Rate Era

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Comments

Plains All American

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL