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PAA $8.76

PAA target price
8.76
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0
Plains All American Pipeline, L.P.
Type
Public
Traded as NYSE: PAA
Industry Oil and gas industry
Founded 1998 (1998)
Headquarters Houston, Texas, United States
Key people
Greg L. Armstrong
(Chairman and CEO)
Revenue
  • Increase US$ 43.464 billion (2014)
  • US$ 42.249 billion (2013)
Operating income
  • Increase US$ 1.791 billion (2014)
  • US$ 1.728 billion (2013)
Net income
  • Increase US$ 1.384 billion (2014)
  • US$ 1.361 billion (2013)
Total assets
  • Increase US$ 22.256 billion (2014)
  • US$ 20.360 billion (2013)
Parent Plains GP Holdings
Website paalp.com

Plains All American Pipeline (NYSE: PAA) is a publicly traded Master limited partnership in the oil pipeline transportation, marketing, and storage business in the United States, liquefied petroleum gas business in Canada, and natural gas storage business in Michigan and Louisiana. It owns about 37 million barrels (5,900,000 m³) of terminal and storage capacity and 15,000 miles (25,000 km) of crude oil pipelines.

Its parent company, Plains GP Holdings, L.P. NYSE: PAGP was formed as a holding company in 2013 to own and manage Plains American Pipeline. In 2014, Plains GP ranked 70 on the Fortune 500.

The company itself is headquartered in Three Allen Center in Downtown Houston, Texas; was traded in 1993; and grew through investment, originally in the Cushing Terminal in Cushing, Oklahoma and mostly acquisition, aimed at improving the transmission of oil to the Midwest. Plains Midstream Canada, an indirect subsidiary of Plains All American Pipeline, does business in 5 provinces in Canada and more than 40 U.S. states.

Major acquisitions include:

According to the EPA and U.S. Justice Department, Plains All-American Pipeline has had 11 serious crude oil spills in five states that included: Texas, Louisiana, Oklahoma, Kansas, and California. Between June 2004 and September 2007, more than 273,000 gallons of crude oil were discharged from various pipelines owned by Plains All-American Pipeline. According to the EPA, some of that oil ended up in rivers, lakes, and oceans. In 2010, the company reached a settlement with the EPA for a $3.25 million civil penalty for violating the Clean Water Act. The company also agreed to spend $41 million to upgrade more than 10,000 miles of crude oil pipelines.

One of the largest land-based oil spills in North America, the Little Buffalo oil spill occurred on April 29, 2011. The Rainbow Pipeline system, owned by Plains Midstream Canada, ruptured, spilling 28,000 barrels of oil in a fairly isolated stretch of boreal forest in northern Alberta, about four miles from the nearest homes in Little Buffalo, Alberta. It was reported to be the largest oil spill in Alberta in 36 years. It was also the second spill in Alberta within a two-week period that year. The local school was closed following the oil spill due to concerns about the effects of fumes.

Heavy rains in early June 2012 caused a leak on a Plains Midstream Canada 46-year-old pipeline at Jackson Creek, a tributary of the Red Deer River (Alberta) which spilled approximately 1,000-3,000 barrels (160,000-475,000 litres) of light sour crude into the Red Deer River.

In 2013, Alberta's Energy Resource Conservation Board (ERCB) issued a reprimand to Plains Mainstream for operational failures in connection with the oil spill. Plains Midstream Canada ULC was charged with three counts of violating environmental protection laws with possible fines of $1.5M if found guilty.

On May 19, 2015, a pipeline operated by Plains All American Pipeline ruptured north-west of Santa Barbara, California,. Within 24 hours, oil had polluted approximately nine miles of the Santa Barbara coast . The spill shut down the popular El Capitan Beach and Campground just prior to the beginning of the summer high season (Memorial Day weekend). Most recent estimates of the spill have risen to over 105,000 U.S. gallons (2,500 barrels). More than 20,000 U.S. gallons (480 barrels) of crude oil is estimated to have spilled into the ocean. The United States House Committee on Energy and Commerce opened an investigation into the oil spill on June 25, 2015 to gather information on maintenance of the line; corrosion management; and process of incident-reporting. According to federal regulations, companies are required to National Response Center and report the release of hazardous-material "at the earliest practicable moment." According to preliminary findings of the federal Pipeline and Hazardous Materials Safety Administration released in June, corrosion had worn a pipeline section to less than an inch thick. California Governor's Office of Emergency Services (CalOES) director Mark S. Ghilarducci testified at the state legislative hearing on June 25 that it appeared that Plains All American did not meet criteria for prompt notification. By June 2015 the cost of cleanup rose to USD$92 million. Santa Barbara County firefighters were among the first to discover the spill on May 18, 2015 and they "built a rim of rocks to prevent oil from running to the shoreline." The Coast Guard received the first call about the spill at 12:39 p.m. on May 18, 2015. The United States Environmental Protection Agency (EPA) and the U.S. Coast Guard formed the Unified Command to respond to the spill.

According to the California Department of Fish and Wildlife's Office of Spill Prevention and Response, OSPR crews were among the first responders of the crude oil spill. By June 22, 2015 they reported that,

"Of the estimated 101,000 gallons of crude discharged into the environment, some 21,000 gallons reached the Pacific Ocean. A Unified Command including OSPR leadership was established in Santa Barbara to coordinate cleanup and recovery operations. As of June 22, operations continue with the focus shifting from cleanup to environmental restoration.

OSPR uses social media including Twitter and Facebook via calspillwatch to report updates on oil spills.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-02 Future report Set alerts
Q2 2022 2022-08-03 0.30 0.30
Q1 2022 2022-05-04 0.31 0.31
Q4 2021 2022-02-09 0.25 0.25
Q3 2021 2021-11-02 0.22 0.22
Q2 2021 2021-08-03 0.23 0.23
Q1 2021 2021-05-04 0.51 0.51
Q4 2020 2021-02-09 -0.11 -0.11
Q3 2020 2020-11-02 0.00 0.00
Q2 2020 2020-08-04 0.13 0.13

Ratings

2016-06-14 Initiated Coverage SunTrust Neutral $30.00
2016-06-14 Initiated Coverage SunTrust Banks Inc. Neutral $30.00
2016-05-31 Boost Price Target RBC Capital Sector Perform $20.00 to $22.00
2016-05-31 Boost Price Target Royal Bank Of Canada Sector Perform $20.00 to $22.00
2016-05-29 Reiterated Rating JPMorgan Chase & Co. Hold
2016-05-27 Lower Price Target JPMorgan Chase & Co. Neutral $27.00 to $26.00
2016-05-26 Reiterated Rating Credit Suisse Neutral $26.00
2016-05-26 Boost Price Target Morgan Stanley Equal Weight $24.00 to $26.00
2016-05-26 Reiterated Rating Credit Suisse Group AG Neutral $26.00
2016-05-19 Reiterated Rating Goldman Sachs Sell $17.00
2016-05-19 Reiterated Rating Goldman Sachs Group Inc. Sell $17.00
2016-05-13 Reiterated Rating Credit Suisse Neutral
2016-04-28 Reiterated Rating RBC Capital Sector Perform $19.00 to $20.00
2016-04-19 Initiated Coverage BMO Capital Markets Market Perform $25.00
2016-04-13 Initiated Coverage Barclays Equal Weight $23.00
2016-04-13 Initiated Coverage Barclays PLC Equal Weight $23.00
2016-04-08 Lower Price Target Wunderlich Hold $22.00 to $20.00
2016-04-01 Initiated Coverage Simmons Neutral $26.00
2016-04-01 Initiated Coverage Piper Jaffray Neutral
2016-04-01 Initiated Coverage Piper Jaffray Cos. Neutral
2016-03-22 Lower Price Target Jefferies Group Buy $32.00 to $28.00
2016-02-11 Lower Price Target Barclays Equal Weight $25.00 to $23.00
2016-02-11 Reiterated Rating RBC Capital Sector Perform $23.00 to $19.00
2016-02-10 Lower Price Target Credit Suisse Neutral $33.00 to $19.00
2016-02-09 Downgrade Bank of America Buy to Neutral $25.00 to $20.00
2016-02-09 Downgrade Bank of America Corp. Buy to Neutral $25.00 to $20.00
2016-02-08 Downgrade Robert W. Baird Outperform to Underperform $25.00 to $16.00
2016-01-20 Upgrade Morgan Stanley Equal Weight to Overweight
2016-01-15 Downgrade RBC Capital Outperform to Sector Perform $36.00 to $23.00
2016-01-13 Reiterated Rating Oppenheimer Market Perform
2016-01-13 Downgrade Capital One Financial Corp. Overweight to Equal Weight
2016-01-13 Downgrade JPMorgan Chase & Co. Overweight to Neutral $43.00 to $28.00
2016-01-13 Reiterated Rating Oppenheimer Holdings Inc. Market Perform
2016-01-11 Downgrade Barclays Overweight to Equal Weight $39.00 to $25.00
2016-01-04 Downgrade Raymond James Outperform to Market Perform
2016-01-04 Downgrade Raymond James Financial Inc. Outperform to Market Perform
2015-12-21 Lower Price Target Credit Suisse $38.00 to $33.00
2015-12-21 Downgrade Oppenheimer Outperform to Market Perform
2015-12-18 Downgrade Seaport Global Securities Accumulate to Neutral
2015-12-14 Reiterated Rating Wunderlich Hold $22.00
2015-12-10 Upgrade Robert W. Baird Neutral to Outperform $33.00 to $25.00
2015-11-16 Reiterated Rating Deutsche Bank Hold $35.00 to $28.00
2015-11-16 Lower Price Target RBC Capital Outperform $44.00 to $36.00
2015-11-16 Reiterated Rating Deutsche Bank AG Hold $35.00 to $28.00
2015-11-05 Lower Price Target Oppenheimer Outperform $42.00 to $35.00
2015-11-05 Downgrade Stifel Nicolaus Buy to Hold
2015-11-05 Downgrade Credit Suisse Outperform to Neutral $46.00 to $38.00
2015-10-20 Lower Price Target Deutsche Bank Hold $36.00 to $35.00
2015-09-16 Initiated Coverage Evercore ISI Hold $32.00
2015-09-11 Downgrade Goldman Sachs Neutral to Sell $36.00 to $33.00
2015-08-24 Reiterated Rating Scotiabank Sector Outperform $40.00
2015-08-24 Initiated Coverage Howard Weil Sector Outperform $40.00
2015-08-20 Reiterated Rating Jefferies Group Buy $42.00
2015-08-07 Reiterated Rating Citigroup Inc. Buy $55.00 to $40.00
2015-08-07 Lower Price Target Barclays Overweight $58.00 to $46.00
2015-08-06 Lower Price Target Credit Suisse Outperform $57.00 to $49.00
2015-08-06 Downgrade Deutsche Bank Buy to Hold $54.00 to $36.00
2015-08-06 Reiterated Rating Oppenheimer Outperform $42.00 to $49.00
2015-08-06 Reiterated Rating Stifel Nicolaus Buy $56.00 to $40.00
2015-08-06 Downgrade Goldman Sachs Buy to Neutral $58.00 to $36.00
2015-08-06 Lower Price Target RBC Capital Outperform $53.00 to $44.00
2015-08-06 Downgrade Robert W. Baird Outperform to Neutral $53.00 to $41.00
2015-08-06 Downgrade Wunderlich Buy to Hold $56.00 to $37.00
2015-06-18 Lower Price Target Jefferies Group Buy $54.00
2015-06-09 Lower Price Target RBC Capital Outperform $54.00 to $53.00
2015-06-08 Lower Price Target Raymond James Outperform $55.00 to $52.00
2015-05-23 Reiterated Rating Citigroup Inc. Buy $57.00 to $55.00
2015-05-19 Initiated Coverage Wunderlich Buy $60.00 to $56.00
2015-05-18 Initiated Coverage Deutsche Bank Buy $54.00
2015-05-12 Reiterated Rating Citigroup Inc. Buy $57.00 to $55.00
2015-05-10 Reiterated Rating Raymond James Outperform $57.00 to $55.00
2015-05-10 Reiterated Rating Credit Suisse Outperform $65.00 to $66.00
2015-05-07 Lower Price Target Stifel Nicolaus Buy $58.00 to $56.00
2015-05-07 Lower Price Target Barclays Overweight $60.00 to $58.00
2015-03-20 Lower Price Target Jefferies Group Buy $57.00 to $56.00
2015-02-09 Lower Price Target Barclays Overweight $61.00 to $60.00
2015-02-09 Reiterated Rating Citigroup Inc. Buy $66.00 to $57.00
2015-01-09 Upgrade Jefferies Group Hold to Buy $61.00 to $57.00
2014-12-19 Lower Price Target Barclays Overweight $63.00 to $61.00
2014-12-04 Initiated Coverage Capital One Financial Corp. Overweight
2014-11-07 Reiterated Rating RBC Capital Outperform $64.00 to $65.00
2014-10-02 Reiterated Rating JPMorgan Chase & Co. Overweight $63.00 to $66.00
2014-08-22 Reiterated Rating Credit Suisse Outperform $66.00
2014-08-08 Boost Price Target Barclays $62.00 to $63.00
2014-08-08 Boost Price Target Credit Suisse Outperform $65.00 to $66.00
2014-07-23 Reiterated Rating Citigroup Inc. Buy $60.00 to $66.00
2014-07-23 Boost Price Target Oppenheimer Outperform $65.00 to $67.00
2014-06-09 Boost Price Target Wunderlich Buy $60.00 to $63.00
2014-06-03 Initiated Coverage Global Hunter Securities Accumulate $62.00
2014-06-03 Boost Price Target Jefferies Group Hold $59.00 to $60.00
2014-06-03 Initiated Coverage Seaport Global Securities Accumulate $62.00
2014-05-13 Lower Price Target Robert W. Baird $62.00 to $61.00
2014-05-09 Boost Price Target Credit Suisse $62.00 to $65.00
2014-04-17 Boost Price Target Jefferies Group Hold $58.00 to $59.00
2014-03-28 Boost Price Target Citigroup Inc. $59.00 to $60.00
2014-02-10 Boost Price Target Ladenburg Thalmann Buy $66.00 to $69.00
2013-12-23 Initiated Coverage Wunderlich Buy $60.00
2013-12-18 Initiated Coverage Citigroup Inc. Buy
2013-12-17 Downgrade Deutsche Bank Buy to Hold $66.00 to $55.00
2013-11-25 Upgrade Clarkson Capital Market Perform to Outperform
2013-11-25 Initiated Coverage Morgan Stanley Equal Weight $58.00
2013-11-25 Initiated Coverage Bank of America Buy $60.00
2013-11-25 Initiated Coverage Goldman Sachs Buy $63.00
2013-11-21 Upgrade Robert W. Baird Neutral to Outperform
2013-11-06 Lower Price Target Credit Suisse $64.00 to $62.00
2013-10-24 Initiated Coverage Jefferies Group Buy $26.00 to $52.25
2013-06-25 Upgrade Ladenburg Thalmann Neutral to Buy
2013-02-07 Reiterated Ladenburg Thalmann Buy $54.50 to $57
2016-06-14 Initiated Coverage SunTrust Neutral $30.00
2016-06-14 Initiated Coverage SunTrust Banks Inc. Neutral $30.00
2016-05-31 Boost Price Target RBC Capital Sector Perform $20.00 to $22.00
2016-05-31 Boost Price Target Royal Bank Of Canada Sector Perform $20.00 to $22.00
2016-05-29 Reiterated Rating JPMorgan Chase & Co. Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
PAA GP Holdings LLC 76.95%  (283896859) PAA /
Plains All American GP LLC 7.63%  (28155526) PAA /
RAYMOND JOHN T 0.43%  (1599616) NGL / PAA / PAGP / TEP /
ARMSTRONG GREG L Chairman of the Board & CEO 0.41%  (1522850) NOV / PAA / PAGP /
PEFANIS HARRY N President & COO 0.20%  (747532) PAA / PAGP /
KRAMER PHIL D Exec. Vice President 0.11%  (392521) ESTE / PAA / PAGP / PDH /
SINNOTT ROBERT V 0.05%  (189757) CRC / PAA / PAGP /
GORMAN MARK J Sr. VP-Operations & Bus. Devel 0.05%  (174654) PAA / PAGP /
McGee Richard K. VP, General Counsel & Sec. 0.04%  (143420) PAA / PAGP /
Swanson Al Executive VP & CFO 0.04%  (134332) PAA / PAGP /
GOYANES EVERARDO 0.02%  (88400) PAA / PAGP /
SYMONDS J TAFT 0.02%  (82225) PAA /
Rutherford John R Executive Vice President 0.02%  (72875) PAA / PAGP /
PETERSEN GARY R 0.01%  (53200) EVEP / PAA /
MOORE TIM Vice President & Corp. Sec. 0.01%  (36990) PAA /
Herbold Chris VP-Acctg & Chief Acctg Officer 0.01%  (34227) PAA / PAGP /
Temple Chris 0.01%  (31250) CCO / PAA / PAGP /