Plains All American Pipeline (NASDAQ:PAA) Posts Quarterly Earnings Results, Misses Estimates By $0.44 EPS

Plains All American Pipeline (NASDAQ:PAA) posted its earnings results on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.44), Zacks reports. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%. The company had revenue of $15.17 billion for the quarter. During the same period in the previous year, the company posted $0.39 EPS. The business’s revenue was up 31.1% compared to the same quarter last year.

Here are the key takeaways from Plains All American Pipeline’s conference call:

• Plains reported third-quarter adjusted EBITDA of $711 million and narrowed its 2026 guidance range to a $2.88 billion midpoint; management expects results at or slightly above that midpoint.
• The company completed the sale of its Canadian NGL business, captured $50 million in Cactus III acquisition synergies, and remains on track for another $50 million in organizational efficiencies by year-end 2026.
• Growth initiatives include a new 270,000-acre Midland gathering dedication and the Silver Spur acquisition in the Powder River Basin, which adds a system transporting about 125,000 barrels per day. Management expects Silver Spur to build toward stronger contributions from 2028, with Permian pipeline expansions paced to market demand.
• A $1.5 billion junior subordinated notes offering funded the redemption of all preferred units; Plains expects the capital-structure changes to add about $60 million, or $0.09 per unit, to annual distributable cash flow while keeping leverage within its target range.
• Fourth-quarter EBITDA is implied at about $700 million, roughly $10 million below the third quarter as some market-related benefits moderate. Management cautioned that those opportunities may not recur at the same level in 2027.

Plains All American Pipeline Stock Performance

Shares of NASDAQ:PAA traded down $0.61 during trading on Friday, hitting $23.92. The stock had a trading volume of 4,567,904 shares, compared to its average volume of 2,438,608. The stock has a 50-day simple moving average of $25.23 and a two-hundred day simple moving average of $22.94. The stock has a market capitalization of $16.88 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 9.09 and a beta of 0.58. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Plains All American Pipeline has a 12-month low of $16.35 and a 12-month high of $26.98.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.4175 per share. The ex-dividend date is Friday, October 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.0%. Plains All American Pipeline’s payout ratio is presently 46.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PAA. Citigroup raised their price objective on shares of Plains All American Pipeline from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. JPMorgan Chase & Co. increased their price target on Plains All American Pipeline from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Barclays upped their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “underweight” rating in a research report on Monday, September 21st. Truist Financial upped their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Plains All American Pipeline from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Moderate Buy” and a consensus target price of $26.07.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides logistics services for crude oil and natural gas liquids (NGLs). Rather than primarily exploring for or producing hydrocarbons, the company operates assets that help gather, transport, store and deliver energy commodities from production areas to refineries, processing facilities and other markets.

The company’s operations include pipeline transportation systems, gathering networks, storage facilities, rail and truck transportation, and terminal and export infrastructure.