PLAINS ALL AMERICAN PIPELINE, L.P.

(PAA)
  Report
Delayed Nasdaq  -  04:00 2022-06-28 pm EDT
10.07 USD   -0.59%
06/24INSIDER BUY : Plains All American Pipeline
MT
06/23TRANSCRIPT : Plains All American Pipeline, L.P. Presents at J.P. Morgan Energy, Power and Renewables Conference, Jun-23-2022 09:40 AM
CI
06/21PLAINS ALL AMERICAN PIPELINE LP : Regulation FD Disclosure (form 8-K)
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Plains All American raises 2022 profit forecast as Permian ramps up

05/04/2022 | 06:11pm EDT

HOUSTON, May 4 (Reuters) - Plains All American Pipeline LP on Wednesday raised its profit forecast for the year by 3.4%, partly as higher oil and gas prices are expected to boost production and volumes shipped on pipelines from the top U.S. shale field.

U.S. shale companies are ramping up output as crude prices have climbed over $100 a barrel, and output is projected to hit a record 5.1 million bpd in May, according to U.S. government data, boosting volumes on pipelines.

The pipeline operator increased full-year adjusted earnings guidance by $75 million to about $2.28 billion and expects its Permian gathering volume to grow around 280,000 barrels per day in 2022.

Plains said it added additional 45,000 barrels a day of contracted short-term volumes to its Permian long-haul pipelines.

"We expect U.S. shale production, led by the Permian, will continue to be crucial to supplying and meeting global energy demand," Chief Executive Officer Wilfred Chiang said on an earnings call.

Crude oil pipeline tariff volumes rose 32% to average 7.2 million barrels per day, with Permian climbing 39%.

Still, earnings from its crude oil business fell 4% compared with the year-ago quarter as the company sold its natural gas storage facilities in August and registered gains a year earlier from hedged power costs related to a winter storm.

Adjusted net income attributable to Plains rose 15% to $266 million, helped by higher prices for natural gas liquids and increased fractionation spreads.

On a per unit basis, earnings fell 1 cent short of Refinitiv IBES analysts' estimate of 32 cents per unit.

Plains also raised its annual common distribution by 15 cents to 87 cents per unit and said it repurchased $25 million of units in the first quarter. (Reporting by Arathy Somasekhar in Houston; Editing by Diane Craft and Lisa Shumaker)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -0.53% 117.42 Delayed Quote.48.13%
PLAINS ALL AMERICAN PIPELINE, L.P. -0.59% 10.07 Delayed Quote.8.46%
S&P GSCI CRUDE OIL INDEX -0.70% 608.4071 Real-time Quote.45.69%
S&P GSCI NATURAL GAS INDEX 2.79% 316.3218 Real-time Quote.75.50%
WTI -0.46% 111.369 Delayed Quote.41.29%
All news about PLAINS ALL AMERICAN PIPELINE, L.P.
06/24INSIDER BUY : Plains All American Pipeline
MT
06/23TRANSCRIPT : Plains All American Pipeline, L.P. Presents at J.P. Morgan Energy, Power and ..
CI
06/21PLAINS ALL AMERICAN PIPELINE LP : Regulation FD Disclosure (form 8-K)
AQ
05/27PLAINS ALL AMERICAN PIPELINE LP : Submission of Matters to a Vote of Security Holders (for..
AQ
05/27PLAINS GP HOLDINGS LP : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
05/24Wolf Haldenstein Adler Freeman & Herz LLP and Halloran Farkas + Kittila LLP Announce th..
AQ
05/23PLAINS ALL AMERICAN PIPELINE LP : Other Events (form 8-K)
AQ
05/16PLAINS ALL AMERICAN PIPELINE LP : Regulation FD Disclosure (form 8-K)
AQ
05/16RBC Lifts Price Target on Plains All American Pipeline to $12 From $11, Notes 2022 Adju..
MT
05/13Exxon challenges California county's denial of oil trucking permit
RE
More news
Analyst Recommendations on PLAINS ALL AMERICAN PIPELINE, L.P.
More recommendations
Financials (USD)
Sales 2022 57 929 M - -
Net income 2022 931 M - -
Net Debt 2022 9 488 M - -
P/E ratio 2022 8,70x
Yield 2022 8,59%
Capitalization 7 076 M 7 076 M -
EV / Sales 2022 0,29x
EV / Sales 2023 0,28x
Nbr of Employees 4 100
Free-Float 59,0%
Chart PLAINS ALL AMERICAN PIPELINE, L.P.
Duration : Period :
Plains All American Pipeline, L.P. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PLAINS ALL AMERICAN PIPELINE, L.P.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 10,07 $
Average target price 14,05 $
Spread / Average Target 39,5%
EPS Revisions
Managers and Directors
Willie C. W. Chiang Chairman & Chief Executive Officer
Harry N. Pefanis President & Non-Independent Director
Alan P. Swanson Chief Financial Officer & Executive Vice President
Alfred A. Lindseth Senior VP-Technology, Process & Risk Management
Chris R. Chandler Chief Operating Officer & Executive VP
Sector and Competitors
1st jan.Capi. (M$)
PLAINS ALL AMERICAN PIPELINE, L.P.8.46%7 076
ENBRIDGE INC.9.96%84 478
ENTERPRISE PRODUCTS PARTNERS L.P.12.80%52 309
TC ENERGY CORPORATION16.06%50 843
KINDER MORGAN, INC.8.45%37 368
WILLIAMS COMPANIES21.89%36 601