Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, and trucks. As of December 31, 2020, this segment owned and leased assets comprising 18,370 miles of crude oil and NGL pipelines and gathering systems; 35 million barrels of above-ground tank capacity; and 815 trailers. The Facilities segment engages in the provision of storage, terminalling, and throughput services primarily for crude oil, NGLs, and natural gas; NGL fractionation and isomerization services; and natural gas and condensate processing services. As of December 31, 2020, this segment owned and operated approximately 75 million barrels of crude oil storage capacity; 28 million barrels of NGL storage capacity; 68 billion cubic feet (Bcf) of natural gas storage capacity; 26 Bcf of base gas; 5 natural gas processing plants; a condensate processing facility; 8 fractionation plants; 22 crude oil and NGL rail terminals; 5 marine facilities; and 330 miles of pipelines. The Supply and Logistics segment engages in the purchase, logistics, and resale of crude oil and NGL. As of December 31, 2020, this segment owned 16 million barrels of crude oil and NGL linefill; 4 million barrels of crude oil and NGL linefill in pipelines owned by third parties and other inventory; 680 trucks and 840 trailers; and 6,000 crude oil and NGL railcars. The company offers logistics services to producers, refiners, and other customers. PAA GP Holdings LLC operates as a general partner of the company. Plains GP Holdings, L.P. was founded in 2013 and is headquartered in Houston, Texas.
IPO Year: 2013
Exchange: NYSE
Website: plainsallamerican.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/10/2025 | $22.00 | Peer Perform → Outperform | Wolfe Research |
| 12/18/2024 | $22.00 → $20.00 | Overweight → Equal Weight | Wells Fargo |
| 10/25/2024 | $22.00 → $19.00 | Overweight → Equal-Weight | Morgan Stanley |
| 4/8/2024 | $23.00 | Sector Outperform | Scotiabank |
| 10/6/2023 | $13.50 | Sell | Goldman |
| 9/25/2023 | $15.00 | Equal Weight → Underweight | Barclays |
| 9/6/2023 | $14.00 → $15.50 | Buy → Neutral | Citigroup |
| 4/21/2023 | $16.00 → $17.00 | Outperform → Strong Buy | Raymond James |
| 12/9/2022 | $14.00 | Buy | Citigroup |
| 11/21/2022 | $15.00 → $14.00 | Overweight → Neutral | JP Morgan |
HOUSTON, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) announced today their quarterly distributions with respect to the fourth quarter of 2024 and also announced timing of fourth quarter 2024 earnings. Fourth Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions: PAA Common Units – $0.38 per Common Unit ($1.52 per unit on an annualized basis), which represents a $0.0625 increase from the distribution paid in November 2024 ($0.25 per unit increase, or 20%, on an annualized basis).PAGP Class A Shares – $0.38 per Class A Share ($1.52 per Class A Share on an annualized basi
HOUSTON, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) (collectively, "Plains") announced today three bolt-on acquisitions for an aggregate cash consideration of approximately $670 million net to Plains, the purchase of approximately 18% of its outstanding PAA Series A Preferred Units and a 20% increase in its annualized distribution rate. Bolt-on Acquisitions Plains signed a definitive agreement to acquire Ironwood Midstream Energy, which owns an Eagle Ford Basin gathering system, from EnCap Flatrock Midstream for approximately $475 million. The transaction is expected to close in the first quarter of 2025 followi
HOUSTON, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today reported third-quarter 2024 results. Third-Quarter Results Reported net income attributable to PAA of $220 million and net cash provided by operating activities of $692 millionDelivered solid Adjusted EBITDA attributable to PAA of $659 millionProgressed our efficient growth strategy with a small bolt-on acquisition of a Permian gathering systemExited the quarter with 3.0x leverage ratio, below our target range of 3.25x – 3.75xReceived Moody's upgrade from Baa3 to Baa2 with stable outlook; now mid-BBB at all three credit rating agenciesResolved remainin
HOUSTON, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the third quarter of 2024 and also announced timing of third quarter 2024 earnings. Third Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions: PAA Common Units – $0.3175 per Common Unit ($1.27 per unit on an annualized basis), which is unchanged from the distribution paid in August 2024.PAGP Class A Shares – $0.3175 per Class A Share ($1.27 per Class A Share on an annualized basis), which is unchanged from the distribution paid in August 2024.PAA Series
HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced that the company's 2023 Sustainability Report Update is now available and can be accessed on the company's website at plains.com/sustainability. The update is also accessible directly at this link. About Plains PAA is a publicly traded master limited partnership that owns and operates midstream energy infrastructure and provides logistics services for crude oil and natural gas liquids (NGL). PAA owns an extensive network of pipeline gathering and transportation systems, in addition to terminalling, storage, processing, fractionation and other in
HOUSTON, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today reported strong second-quarter 2024 results and raised full-year 2024 Adjusted EBITDA guidance. Second-Quarter Results Reported net income attributable to PAA of $250 million and net cash provided by operating activities of $653 millionDelivered Adjusted EBITDA attributable to PAA of $674 millionGenerated Adjusted Free Cash Flow of $421 million (excluding changes in Assets & Liabilities; including bolt-on acquisition capital)Successfully priced public offering of $650 million of unsecured senior notes at 5.7% due 2034 2024 Guidance Update Raising the mid
HOUSTON, July 03, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the second quarter of 2024 and also announced timing of second quarter 2024 earnings. Second Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions: PAA Common Units – $0.3175 per Common Unit ($1.27 per unit on an annualized basis), which is unchanged from the distribution paid in May 2024.PAGP Class A Shares – $0.3175 per Class A Share ($1.27 per Class A Share on an annualized basis), which is unchanged from the distribution paid in May 2024.PAA Series A
Provides Update on Permian Long-Haul Contracting & Announces Bolt-on Acquisitions HOUSTON, May 03, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today reported first-quarter 2024 results and reaffirmed full-year 2024 Adjusted EBITDA guidance. Plains also provided updates on Permian long-haul contracting and announced two bolt-on acquisitions. First-Quarter Results Reported Net income attributable to PAA of $266 million and Net cash provided by operating activities of $419 millionDelivered Adjusted EBITDA attributable to PAA of $718 million; on-track to meet full-year guidance of $2.625 - $2.725 billionGenerated Adjusted Fre
HOUSTON, April 04, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the first quarter of 2024 and also announced timing of first quarter 2024 earnings. First Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on May 15, 2024 to holders of the respective securities at the close of business on May 1, 2024: PAA Common Units – $0.3175 per Common Unit ($1.27 per unit on an annualized basis), which is unchanged from the distribution paid in February 2024.PAGP Class A Shares – $0.3175 per Class
HOUSTON, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the fourth quarter of 2023 and also announced timing of fourth quarter 2023 earnings. Fourth Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on February 14, 2024 to holders of the respective securities at the close of business on January 31, 2024: PAA Common Units – $0.3175 per Common Unit ($1.27 per unit on an annualized basis), which represents a $0.05 increase from the distribution paid in November 2023 ($0.20
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HOUSTON, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced the appointment of Blake Fernandez as Vice President, Investor Relations. Roy Lamoreaux, who served previously as Vice President, Investor Relations, Communications and Government Relations has assumed the role of Vice President, Communications, Sustainability and Public Affairs. Fernandez and Lamoreaux report to Chris Herbold, Sr. VP Finance and Chief Accounting Officer, who in addition to overseeing these functions and all Accounting activities, also has responsibility for Equity Capital Markets, Tax and Commodity Risk Management. "Blake brings
HOUSTON, April 04, 2022 (GLOBE NEWSWIRE) -- Plains All American -- In association with the company's succession planning efforts, Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced the promotion of Neil Lyons to Senior Vice President, Commercial for its Canadian operations and the appointment of Will Abney as Vice President Mergers, Acquisitions and Strategic Planning. "We are pleased for Neil to assume increasing commercial responsibilities at Plains and for Will to join the organization," stated Willie Chiang, Chairman and CEO of Plains All American. "Neil is an integral member of our Canadian leadership team. The experience, expertise a
FREYR Battery (NYSE:FREY) ("FREYR"), a developer of clean, next-generation battery cell production capacity, today announced the appointment of Oscar Brown to the position of Group Chief Financial Officer ("CFO") at FREYR Battery. As CFO, Brown will report to FREYR's Chief Executive Officer, Tom Einar Jensen, and will be responsible for financial planning, performance, reporting, and capital markets engagement across the organization. He will assume his new position at FREYR effective immediately. "We are delighted to welcome Oscar to the FREYR executive leadership team. As we prepare to execute our strategic plan to establish clean battery production at giga scale in Norway, the U.S. and
HOUSTON, March 01, 2021 (GLOBE NEWSWIRE) -- In connection with the company’s long-term succession plans, Plains All American Pipeline, L.P. (Nasdaq: PAA) and Plains GP Holdings (Nasdaq: PAGP) announced that effective today, its Board of Directors has approved the appointment of Jeremy Goebel to an expanded role of Executive Vice President and Chief Commercial Officer. “We are pleased to announce Jeremy’s expanded role as EVP & Chief Commercial Officer,” stated Willie Chiang, Chairman and CEO of Plains. “Jeremy has played a critical leadership role in strategic planning, fundamental and commercial analysis, acquisitions and divestitures, and developing long-term strategic customer relati
4 - PLAINS GP HOLDINGS LP (0001581990) (Issuer)
Wolfe Research upgraded Plains GP from Peer Perform to Outperform and set a new price target of $22.00
Wells Fargo downgraded Plains GP from Overweight to Equal Weight and set a new price target of $20.00 from $22.00 previously
Morgan Stanley downgraded Plains GP from Overweight to Equal-Weight and set a new price target of $19.00 from $22.00 previously
Scotiabank resumed coverage of Plains GP with a rating of Sector Outperform and set a new price target of $23.00
Goldman resumed coverage of Plains GP with a rating of Sell and set a new price target of $13.50
Barclays downgraded Plains GP from Equal Weight to Underweight and set a new price target of $15.00
Citigroup downgraded Plains GP from Buy to Neutral and set a new price target of $15.50 from $14.00 previously
Raymond James upgraded Plains GP from Outperform to Strong Buy and set a new price target of $17.00 from $16.00 previously
Citigroup initiated coverage of Plains GP with a rating of Buy and set a new price target of $14.00
JP Morgan downgraded Plains GP from Overweight to Neutral and set a new price target of $14.00 from $15.00 previously
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8-K - PLAINS GP HOLDINGS LP (0001581990) (Filer)
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8-K - PLAINS GP HOLDINGS LP (0001581990) (Filer)
8-K - PLAINS GP HOLDINGS LP (0001581990) (Filer)
HOUSTON, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) announced today their quarterly distributions with respect to the fourth quarter of 2024 and also announced timing of fourth quarter 2024 earnings. Fourth Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions: PAA Common Units – $0.38 per Common Unit ($1.52 per unit on an annualized basis), which represents a $0.0625 increase from the distribution paid in November 2024 ($0.25 per unit increase, or 20%, on an annualized basis).PAGP Class A Shares – $0.38 per Class A Share ($1.52 per Class A Share on an annualized basi
HOUSTON, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today reported third-quarter 2024 results. Third-Quarter Results Reported net income attributable to PAA of $220 million and net cash provided by operating activities of $692 millionDelivered solid Adjusted EBITDA attributable to PAA of $659 millionProgressed our efficient growth strategy with a small bolt-on acquisition of a Permian gathering systemExited the quarter with 3.0x leverage ratio, below our target range of 3.25x – 3.75xReceived Moody's upgrade from Baa3 to Baa2 with stable outlook; now mid-BBB at all three credit rating agenciesResolved remainin
HOUSTON, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the third quarter of 2024 and also announced timing of third quarter 2024 earnings. Third Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions: PAA Common Units – $0.3175 per Common Unit ($1.27 per unit on an annualized basis), which is unchanged from the distribution paid in August 2024.PAGP Class A Shares – $0.3175 per Class A Share ($1.27 per Class A Share on an annualized basis), which is unchanged from the distribution paid in August 2024.PAA Series
HOUSTON, July 03, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the second quarter of 2024 and also announced timing of second quarter 2024 earnings. Second Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions: PAA Common Units – $0.3175 per Common Unit ($1.27 per unit on an annualized basis), which is unchanged from the distribution paid in May 2024.PAGP Class A Shares – $0.3175 per Class A Share ($1.27 per Class A Share on an annualized basis), which is unchanged from the distribution paid in May 2024.PAA Series A
Provides Update on Permian Long-Haul Contracting & Announces Bolt-on Acquisitions HOUSTON, May 03, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today reported first-quarter 2024 results and reaffirmed full-year 2024 Adjusted EBITDA guidance. Plains also provided updates on Permian long-haul contracting and announced two bolt-on acquisitions. First-Quarter Results Reported Net income attributable to PAA of $266 million and Net cash provided by operating activities of $419 millionDelivered Adjusted EBITDA attributable to PAA of $718 million; on-track to meet full-year guidance of $2.625 - $2.725 billionGenerated Adjusted Fre
HOUSTON, April 04, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the first quarter of 2024 and also announced timing of first quarter 2024 earnings. First Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on May 15, 2024 to holders of the respective securities at the close of business on May 1, 2024: PAA Common Units – $0.3175 per Common Unit ($1.27 per unit on an annualized basis), which is unchanged from the distribution paid in February 2024.PAGP Class A Shares – $0.3175 per Class
HOUSTON, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today announced their quarterly distributions with respect to the fourth quarter of 2023 and also announced timing of fourth quarter 2023 earnings. Fourth Quarter Distribution Declaration PAA and PAGP announced the following quarterly cash distributions, each of which will be payable on February 14, 2024 to holders of the respective securities at the close of business on January 31, 2024: PAA Common Units – $0.3175 per Common Unit ($1.27 per unit on an annualized basis), which represents a $0.05 increase from the distribution paid in November 2023 ($0.20
HOUSTON, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today reported third-quarter 2023 results and provided updated 2023 guidance as highlighted below. Plains also provided additional information regarding its multi-year capital allocation framework and announced two bolt-on acquisitions in the Permian Basin. Third-Quarter Results Reported Net income attributable to PAA of $203 million and Net cash provided by operating activities of $85 million.Delivered strong results with Adjusted EBITDA attributable to PAA of $662 million. 2023 Guidance Update Raising guidance for full-year 2023 Adjusted EBITDA attr
HOUSTON, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) announced they will release third-quarter 2023 earnings before market open on Friday, November 3, 2023 and will hold a joint webcast on the same day as follows: What: Third-quarter 2023 earnings webcast When: Friday, November 3, 2023 10:00 a.m. ET; 9:00 a.m. CT Where: www.plains.com or https://edge.media-server.com/mmc/p/m7siujui How: Live over the internet – log on at either of the addresses above The slide presentation accompanying the conference call materials will be posted prior to the call at www.plains.com under the "Investor Relations" sections of the
HOUSTON, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NASDAQ:PAA) and Plains GP Holdings (NASDAQ:PAGP) today reported second-quarter 2023 results and provided updated 2023 guidance as highlighted below. Plains also announced a bolt-on acquisition in the Permian and provided updates regarding its NGL segment. Second-Quarter Results Reported Net income attributable to PAA of $293 million & Net cash provided by operating activities of $888 million.Delivered strong results with Adjusted EBITDA attributable to PAA of $597 million. Permian Bolt-on Acquisition A subsidiary of Plains Oryx Permian Basin LLC acquired Diamondback Energy's 43% interest in OMOG JV LLC for