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Plains All American Pipeline, L.P.

5/21/2013, 1:02 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Monday, May 20, 9:29 AM Plains All America (PAA) says it is constructing a 95-mile extension of its existing Oklahoma crude oil pipeline system to service increasing production from the Granite Wash, Hogshooter and Cleveland Sands producing areas in western Oklahoma and the Texas panhandle. The new pipeline will provide up to 75K bbl/day of new takeaway capacity. Comment! [Energy]
Wednesday, May 15, 3:51 PM Enbridge Energy Partners (EEP +1.3%) says it may be forced to shut down an 80K bbl/day oil-loading rail terminal in North Dakota unless the amount of potentially deadly hydrogen sulfide in crude oil delivered to the facility can be reduced. EEP is seeking to limit the amount of harmful gas in the delivered crude to 5 ppm, but Plains All American (PAA) counters that other pipeline companies have a threshold of 10 ppm. 1 Comment [Energy]
Wednesday, May 8, 11:58 AM Plains All American Pipeline (PAA +0.4%) is downgraded to Neutral from Outperform at Credit Suisse on valuation after posting Q1 results that "crushed" estimates. The firm raises its outlook to a three-year CAGR of 11% as PAA builds out its fee-based business. PAA took advantage of favorable spreads to record $3.95/bbl margins in its S&L segment but is guiding to $1.19/bbl margins for Q2 and $1.15 for H2. Comment! [Energy, Quick Ideas]
Monday, May 6, 5:45 PM More on Plains All American's (PAA) Q1 results: Earnings were helped by heavy pipeline traffic, while profits at PAA Natural Gas Storage (PNG) rose 12%. Q1 benefited from "solid fee-based results in our transportation and facilities segments and outstanding execution in our margin-based supply and logistics segment." Increases its 2013 capex program to $1.4B from $1.1B. PAA +0.6% AH. 3 Comments [Energy, Earnings]
Monday, May 6, 4:32 PM Plains All American Pipeline (PAA): Q1 EPS of $1.26 beats by $0.29. Revenue of $10.62B (+15.2% Y/Y) misses by $800M. Shares +1.1% AH. (PR) Comment! [Earnings, Energy, On the Move, Breaking News]
Monday, May 6, 12:10 AM Notable earnings after Monday’s close: ALNY, AMTG, APC, ARRY, BSFT, CECO, CHUY, DPM, ENOC, EOG, FSLR, FST, FTR, GDP, GSM, GWAY, HIMX, HOLX, LGCY, MELI, MKTG, MMLP, MR, NOG, NRP, OTTR, PAA, PEGA, PNG, RKUS, SGY, SMG, SNTS, STAG, VNO, WMS Comment! [Earnings]
Sunday, May 5, 5:35 PM Notable earnings after Monday’s close: ALNY, AMTG, APC, ARRY, BSFT, CECO, CHUY, DPM, ENOC, EOG, FSLR, FST, FTR, GDP, GSM, GWAY, HIMX, HOLX, LGCY, MELI, MKTG, MMLP, MR, NOG, NRP, OTTR, PAA, PEGA, PNG, RKUS, SGY, SMG, SNTS, STAG, VNO, WMS Comment! [Earnings]
Tuesday, April 30, 11:42 AM Growing distributions while growing the business is the key for MLPs for the rest of 2013, and Merrill's MLP research team highlights energy partnerships it believes can expand their current business models while raising their distributions to shareholders. Likely to enjoy the highest payout increases: ACMP, BPL, EEP, EPD, GEL, NRGM, MWE, PAA. Comment! [Energy, Quick Ideas]
Monday, April 15, 9:53 AM Plains All American (PAA -0.3%) says it is constructing a new 310-mile pipeline in east Texas, which it plans to place into service in 2015 and expects to cost $350M-$375M. PAA says it has entered into a letter of intent with a third party for a long-term commitment for most of the pipeline's initial 200K bbl/day capacity. Comment! [Energy]
Thursday, April 11, 10:09 AM Plains All American's (PAA -0.4%) Canadian unit and Keyera (KEYUF.PK) say they plan to solicit interest for the construction of a new jointly-owned liquids pipeline system in northwest Alberta. PAA and Keyera have begun an open season process seeking non-binding nominations for volumes to underpin construction. Comment! [Energy]
Wednesday, April 10, 5:35 PM Barclays sees the growth in crude oil rail transport as a “slight positive” for MLPs, as it provides terminal investment opportunities and potential synergies partially offset by increasing competition. The financial impact of rail on MLPs is still relatively modest, the firm says, as pipelines remain the dominant mode of U.S. crude transportation due to cost and safety advantages relative to rail, barge and truck. 3 Comments [Energy]
Monday, April 8, 12:08 PM Plains All American Pipeline (PAA +1.8%) boosts its quarterly cash distribution by 2.2% Q/Q to 57.5 cents/unit, to be paid May 15 to unitholders of record as of May 3. Comment! [Energy, On the Move]
Tuesday, April 2, 11:32 AM The shale revolution is here to stay and will have a meaningful impact on the midstream industry, and MLPs are by far the best way to capitalize, fund manager Kevin McCarthy says. His favorites: Plains All American (PAA) for its management team, and Enterprise Products Partners (EPD) for its diverse assets. But beware of non-traditional MLPs in areas such as retail gas stations, coking, and wholesale supply. Comment! [Energy, Quick Ideas]
Tuesday, April 2, 8:41 AM With the natural gas sector showing an average dividend yield of 3.6% and a dividend growth rate of more than 10% vs. the S&P 500 dividend yield of 2.1% and dividend growth of ~5%, Deutsche Bank is bullish on the sector and expects more upside in 2013 and beyond. The firm's top buys: PAA, EPD, KMP, KMR, WES, ACMP. 1 Comment [Energy, Quick Ideas]
Monday, April 1, 10:48 AM Plains All American (PAA +0.7%) is upgraded to Buy from Hold with a $66 price target (from $52) at Deutsche Bank, which cites accelerating growth rates in distributable cash flow and its increasing component of fee-based earnings. PAA shows ~$1.1B in growth projects this year, mostly moving to oil in the best shale basins, the firm notes. Comment! [Energy, Quick Ideas]
Thursday, March 21, 4:23 PM The outlook for MLPs is rosy, according to Elvira Scotto, a director at RBC. In a report on the sector published by The Wall Street Transcript, Scotto says that thanks to low interest rates, MLPs have ready access to capital and can thus easily fund growth. This is good news for yield-starved investors as MLPs offer handsome payouts. Previously: MLPs will outperform even if rates rise. 8 Comments [Energy]