Plains All American Pipeline LP
NASDAQ:PAA
Intrinsic Value
Plains All American Pipeline LP engages in the provision of logistics services and owns midstream energy infrastructure. [ Read More ]
The intrinsic value of one PAA stock under the Base Case scenario is 32.09 USD. Compared to the current market price of 17.56 USD, Plains All American Pipeline LP is Undervalued by 45%.
Valuation Backtest
Plains All American Pipeline LP
Run backtest to discover the historical profit from buying and selling PAA stocks based on their intrinsic value.
Analyze the historical link between intrinsic value and market price to make more informed investment decisions.
Fundamental Analysis
PAA Exceeds Earnings Expectations for 2023
2023-Q4 Earnings Call
Plains All American reported strong 2023 results with a noteworthy EBITDA performance of $2.71 billion, surpassing guidance midpoints by $210 million, or 8%, propelled by success in both Crude Oil and NGL segments. The company's prudent management led to a leverage reduction, with a ratio of 3.1x, affirmed by two mid-BBB credit rating upgrades. A series of strategic asset transactions contributed to enhanced operations and a $0.20 unit distribution rise. For 2024, PAA anticipates an adjusted EBITDA range of $2.625 to $2.725 billion, credited to Crude Oil growth and Permian production, despite a dip in the NGL sector. Additionally, they project generating $1.65 billion in free cash flow with roughly $500 million post-distribution.
Balance Sheet Decomposition
Plains All American Pipeline LP
Current Assets | 4.9B |
Receivables | 3.8B |
Other Current Assets | 1.2B |
Non-Current Assets | 22.4B |
Long-Term Investments | 2.8B |
PP&E | 17.1B |
Intangibles | 1.9B |
Other Non-Current Assets | 676m |
Current Liabilities | 5B |
Accounts Payable | 3.8B |
Other Current Liabilities | 1.2B |
Non-Current Liabilities | 11.9B |
Long-Term Debt | 7.3B |
Other Non-Current Liabilities | 4.6B |
Earnings Waterfall
Plains All American Pipeline LP
Revenue
|
48.7B
USD
|
Cost of Revenue
|
-46B
USD
|
Gross Profit
|
2.8B
USD
|
Operating Expenses
|
-1.4B
USD
|
Operating Income
|
1.4B
USD
|
Other Expenses
|
-382m
USD
|
Net Income
|
976m
USD
|
Free Cash Flow Analysis
Plains All American Pipeline LP
What is Free Cash Flow?
PAA Profitability Score
Profitability Due Diligence
Plains All American Pipeline LP's profitability score is 49/100. The higher the profitability score, the more profitable the company is.
Score
Plains All American Pipeline LP's profitability score is 49/100. The higher the profitability score, the more profitable the company is.
PAA Solvency Score
Solvency Due Diligence
Plains All American Pipeline LP's solvency score is 44/100. The higher the solvency score, the more solvent the company is.
Score
Plains All American Pipeline LP's solvency score is 44/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
PAA Price Targets Summary
Plains All American Pipeline LP
According to Wall Street analysts, the average 1-year price target for PAA is 18.13 USD with a low forecast of 14.14 USD and a high forecast of 22.05 USD.
Ownership
PAA Insider Trading
Buy and sell transactions by insiders
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Shareholder Return
PAA Price
Plains All American Pipeline LP
Average Annual Return | -3.87% |
Standard Deviation of Annual Returns | 39.07% |
Max Drawdown | -86% |
Market Capitalization | 12.3B USD |
Shares Outstanding | 701 070 976 |
Percentage of Shares Shorted | 2.17% |
Company Profile
Country
Industry
Market Cap
Dividend Yield
Description
Plains All American Pipeline LP engages in the provision of logistics services and owns midstream energy infrastructure. The company is headquartered in Houston, Texas and currently employs 4,100 full-time employees. The company owns a network of pipeline transportation, terminalling, storage and gathering assets in key crude oil and natural gas liquids producing basins and transportation. The company has two segments: Crude Oil and Natural Gas Liquids (NGL). Crude Oil segment operations generally consists of gathering and transporting crude oil using pipelines, gathering systems, trucks and at times on barges or railcars, in addition to providing terminalling, storage and other facilities-related services utilizing its integrated assets across the United States and Canada. Its assets serve third parties and are also supported by its merchant activities. Its NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. NGL segment is involved in gathering, fractionation, storage and/or terminalling services to third-party customers for a fee, and merchant activities that support the assets.
Contact
IPO
Employees
Officers
The intrinsic value of one PAA stock under the Base Case scenario is 32.09 USD.
Compared to the current market price of 17.56 USD, Plains All American Pipeline LP is Undervalued by 45%.