PAA offers a 7.3% distribution yield with strong coverage ratio and steady growth potential. The company has diversified assets, strong balance sheet, and strategic shift towards fee-based business. PAA's recent performance, acquisition strategy, and valuation make it a compelling choice for conservative investors.
After losing some value lately, a hammer chart pattern has been formed for Plains All American (PAA), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.
Plains All American Pipeline, L.P. (NASDAQ:PAA ) Q2 2024 Earnings Conference Call August 2, 2024 10:00 AM ET Company Participants Blake Fernandez - Vice President, Investor Relations Willie Chiang - Chairman and CEO Al Swanson - Executive Vice President and CFO Jeremy Goebel - Executive Vice President and CCO Chris Chandler - Executive Vice President and COO Conference Call Participants Tristan Richardson - Scotiabank Michael Blum - Wells Fargo Jeremy Tonet - JPMorgan Securities Manav Gupta - UBS Keith Stanley - Wolfe Research Spiro Dounis - Citi Neel Mitra - Bank of America AJ O'Donnell - TPH Sunil Sibal - Seaport Global Neal Dingmann - Truist Securities John Mackay - Goldman Sachs Operator Good day and thank you for standing by.
Plains All American's (PAA) second-quarter earnings and revenues increase year over year. Total costs and expenses increase during the same period.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Plains All American (PAA) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
Plains All American (PAA) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Plains All American (PAA) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.
First quarter adjusted EBITDA net PAA was $718 million. The company reaffirmed adjusted EBITDA guidance ranged between $2.625 billion to $2.725 billion for 2024. Acquired additional 10% in Saddlehorn Pipeline Company, LLC and Mid-Con terminal asset for $110 million, expected to enhance position in Rockies and Mid-Con.
In my latest article on Plains All American I made it clear that PAA is mostly a dividend play rather than an investment from which we could expect strong price appreciation. So far, the stock price has dropped, while the underlying fundamentals have become more supportive for a juicy dividend case. In this article I assess the details of Q1 earnings report and justify why, in my opinion, PAA is an enticing investment case for investors, who seek high and de-risked yield.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.