- Plains All American’s adjusted earnings per unit were 42 cents, matching the previous year but missing the estimated 43 cents.
- The company’s adjusted EBITDA was $729 million, showing a decrease of 1.1% year over year.
- Revenue came in at $12.40 billion, down 2.3% compared to the previous year, and below the estimated $13.29 billion.
- Distributable cash flow per unit decreased to 64 cents from 68 cents the previous year.
- Maintenance capital expenditures increased by 16% to $73 million, surpassing the estimate of $63.3 million.
- Overall distributable cash flow was $512 million, a 5.7% decline year over year, missing the estimate of $530.5 million.
- Chairman and CEO Willie Chiang emphasized the company’s potential to leverage its assets and financial strength for value-creating transactions.
- Analyst ratings for Plains All American were recorded as 10 buys, 9 holds, and 2 sells.
Plains All American Pipeline, L.P. on Smartkarma
Analysts on Smartkarma, like Baptista Research, are bullish on Plains All American Pipeline, L.P. (PAGP) based on recent reports. In one analysis titled “Plains GP Holdings: Will Its Bolt-On Acquisitions Strategy Give Them A Competitive Edge! – Major Drivers,” PAGP’s strong third-quarter performance in 2024 was highlighted, driven by operational success and strategic initiatives. The company is expected to reach the top end of its adjusted EBITDA guidance for the year, propelled by robust oil volumes from the Permian Basin and efficient handling of natural gas liquids.
Another report, “Plains GP Holdings: Strategic Capital Allocation & Bolt-On Acquisitions As A Strategic Growth Enabler! – Major Drivers,” emphasized PAGP’s financial and operational strength in Q3 2024. With a robust operational quarter, PAGP is poised to achieve the upper range of its EBITDA guidance, indicating positive performance across key areas. These insights showcase the positive sentiment surrounding Plains All American Pipeline, L.P. as it navigates market dynamics and capitalizes on growth opportunities.
A look at Plains All American Pipeline, L.P. Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Plains All American Pipeline, L.P. shows a promising long-term outlook based on the Smartkarma Smart Scores. With a high score in Dividend and Growth, the company appears to offer strong potential for income-seeking investors. Its Value score is also respectable, indicating that the stock may be considered undervalued. Although Resilience scored a bit lower, the overall picture for Plains All American Pipeline, L.P. seems positive due to its solid performance in Dividend and Growth.
Plains All American Pipeline, L.P. operates in intrastate crude oil transportation and storage. The company is known for its seasonally heated crude oil pipeline from CA to TX and its oil gathering system in CA. With a strong emphasis on dividends and growth, the company positions itself well for investors looking for stable returns in the energy sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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