Plains All American Pipeline, L.P. (PAA)

US — Energy Sector
Peers: DTM  VNOM  DINO  AR  WES  AM  HESM  OVV  YPF  NFG 

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Key Metrics & Ratings

  • symbol PAA
  • Rev/Share 66.2401
  • Book/Share 18.4503
  • PB 1.44
  • Debt/Equity 0.9871
  • CurrentRatio 1.0406
  • ROIC 0.0524

 

  • MktCap 14088790467.0
  • FreeCF/Share 3.1477
  • PFCF 6.3578
  • PE 12.4415
  • Debt/Assets 0.3429
  • DivYield 0.078
  • ROE 0.1162

 

  • Rating B+
  • Score 3
  • Recommendation Neutral
  • P/E Score 2
  • DCF Score 5
  • P/B Score 3
  • D/E Score 1

Recent Analyst Ratings

Type Ticker Analyst Firm Previous Rating Current Rating Previous Price Target Current Price Target Date
Downgrade PAA BofA Securities Neutral Underperform -- $19 Jan. 28, 2026
Downgrade PAA Wolfe Research Outperform Peer Perform -- -- July 25, 2025
Resumed PAA Scotiabank -- Sector Outperform -- $23 Jan. 10, 2025
Upgrade PAA Wolfe Research Peer Perform Outperform -- $22 Jan. 10, 2025
Downgrade PAA Wells Fargo Overweight Equal Weight $22 $20 Dec. 18, 2024
Resumed PAA BofA Securities -- Neutral -- $18 Oct. 17, 2024

News

Plains All American Q4 Earnings Miss Estimates, Sales Decline Y/Y
PAA
Published: February 06, 2026 by: Zacks Investment Research
Sentiment: Negative

PAA reports weaker Q4 results, with earnings and sales below expectations, but shares a steady 2026 outlook on EBITDA and cash flow.

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image for news Plains All American Q4 Earnings Miss Estimates, Sales Decline Y/Y
Here's What Key Metrics Tell Us About Plains All American (PAA) Q4 Earnings
PAA
Published: February 06, 2026 by: Zacks Investment Research
Sentiment: Positive

The headline numbers for Plains All American (PAA) give insight into how the company performed in the quarter ended December 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

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image for news Here's What Key Metrics Tell Us About Plains All American (PAA) Q4 Earnings
Plains All American to Post Q4 Earnings: What's Next for the Stock?
PAA
Published: February 04, 2026 by: Zacks Investment Research
Sentiment: Positive

PAA heads into Q4 earnings with lower revenue estimates, stable fee-based cash flows and EPIC Crude synergies in focus.

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image for news Plains All American to Post Q4 Earnings: What's Next for the Stock?
3 Oil Pipeline MLP Stocks Shining Despite Industry Headwinds
EPD, ET, PAA
Published: February 03, 2026 by: Zacks Investment Research
Sentiment: Negative

Conservative capital spending by upstream players is adding uncertainty to the Zacks Oil and Gas - Pipeline MLP industry's outlook. EPD, ET and PAA are surviving the industry challenges.

Read More
image for news 3 Oil Pipeline MLP Stocks Shining Despite Industry Headwinds
PAA vs. ET: Which Midstream Stock Deserves a Spot in Your Portfolio?
ET, PAA
Published: January 26, 2026 by: Zacks Investment Research
Sentiment: Positive

PAA and ET, with their vast pipeline network, provide valuable support to the oil and gas industry.

Read More
image for news PAA vs. ET: Which Midstream Stock Deserves a Spot in Your Portfolio?
These 2 Oils and Energy Stocks Could Beat Earnings: Why They Should Be on Your Radar
PAA, PBR
Published: January 26, 2026 by: Zacks Investment Research
Sentiment: Positive

The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.

Read More
image for news These 2 Oils and Energy Stocks Could Beat Earnings: Why They Should Be on Your Radar
2 Highest Yielding Quality MLPs To Include In Retirement Portfolios
AMLP, BIZD, DKL, ENB, EPD, ET, HESM, KMI, MPLX, PAA, PDI, PFFA, QQQI, SPH, TRP, USAC, WES
Published: January 26, 2026 by: Seeking Alpha
Sentiment: Positive

Midstream MLPs offer high single-digit yields with strong defensive characteristics, making them attractive for retirement income portfolios. The yield-to-risk ratio in MLPs is compelling, even compared to my other favorite yield plays such as BDCs, covered call, and leveraged CEFs. In the article I elaborate on two highest-yielding MLPs, which are de-risked enough to meet the durable income criteria.

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image for news 2 Highest Yielding Quality MLPs To Include In Retirement Portfolios
Best Momentum Stock to Buy for January 22nd
BBVA, MCB, PAA
Published: January 22, 2026 by: Zacks Investment Research
Sentiment: Positive

BBVA, MCB and PAA made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on January 22, 2026.

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image for news Best Momentum Stock to Buy for January 22nd
Best Income Stocks to Buy for January 22nd
GES, PAA, WST
Published: January 22, 2026 by: Zacks Investment Research
Sentiment: Positive

GES, PAA and WST made it to the Zacks Rank #1 (Strong Buy) income stocks list on January 22, 2026.

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image for news Best Income Stocks to Buy for January 22nd
Why Plains All American Pipeline (PAA) is a Top Momentum Stock for the Long-Term
PAA
Published: January 21, 2026 by: Zacks Investment Research
Sentiment: Positive

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

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image for news Why Plains All American Pipeline (PAA) is a Top Momentum Stock for the Long-Term
The One Data Point That Changed My Dividend Growth Strategy
AAPL, AMLP, BEP, BEPC, BIP, BIPC, BIZD, ENB, ET, GOOG, GOOGL, HD, LOW, MAIN, MLPX, MPLX, MSFT, O, OKE, PAA, PAGP, SCHD, SPY, UTF, UTG
Published: January 15, 2026 by: Seeking Alpha
Sentiment: Positive

A long-held dividend investing assumption just quietly broke down. One overlooked sector is rewriting the rules on yield and growth. This shift completely changed how I allocate my capital.

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image for news The One Data Point That Changed My Dividend Growth Strategy
My Favorite 5-7% Yielding Dividend Growth Machines For Any Market Environment
AMLP, BEP, BEPC, EPD, ET, KMI, MLPX, PAA, PAGP, PLTR, UTF
Published: January 14, 2026 by: Seeking Alpha
Sentiment: Positive

Inflation, valuations, and risk are flashing warning signs everywhere. These two undervalued dividend growth machines are built to grow cash flow through chaos. A rare chance to lock in durable high yield before the market catches on.

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image for news My Favorite 5-7% Yielding Dividend Growth Machines For Any Market Environment
Plains All American Pipeline (PAA) Now Trades Above Golden Cross: Time to Buy?
PAA
Published: January 13, 2026 by: Zacks Investment Research
Sentiment: Positive

From a technical perspective, Plains All American Pipeline, L.P. (PAA) is looking like an interesting pick, as it just reached a key level of support.

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image for news Plains All American Pipeline (PAA) Now Trades Above Golden Cross: Time to Buy?
Should Value Investors Buy Plains All American Pipeline (PAA) Stock?
PAA
Published: January 13, 2026 by: Zacks Investment Research
Sentiment: Positive

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.

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image for news Should Value Investors Buy Plains All American Pipeline (PAA) Stock?
Hard To Imagine A Retirement Portfolio Without These 2 Gems
AMLP, CSHI, EIC, ENB, EPD, MLPI, MU, NVDA, OXLC, PAA, PFF, PFFA, PLTR, TBIL, WES, XFLT
Published: January 06, 2026 by: Seeking Alpha
Sentiment: Positive

The year is 2026, and the market (and macro) environment seem to be exactly the opposite of what is required for stress-free income. For prudent income investors, considering taking some risk off the table might be a good idea. But in most cases it comes at the cost of reduced income potential.

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image for news Hard To Imagine A Retirement Portfolio Without These 2 Gems
Why Relative Price Strength Matters More Heading Into 2026
CIEN, CMC, JBL, PAA
Published: January 05, 2026 by: Zacks Investment Research
Sentiment: Positive

JBL, CIEN, CMC and PAA show strong relative price strength, earnings momentum, and rising analyst estimates for 2026.

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image for news Why Relative Price Strength Matters More Heading Into 2026
A Golden Buying Opportunity Few Investors Have Noticed Yet
AMLP, ARCC, BIZD, BXSL, ENB, EPD, ET, FSK, KMI, MLPA, MPLX, PAA, SCHD, SPY, TRP, VNQ, XLU
Published: December 22, 2025 by: Seeking Alpha
Sentiment: Positive

The market looks very overvalued today. However, there is a corner of it that appears largely overlooked. I detail why I am pouring a large percentage of my portfolio into this golden buying opportunity.

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image for news A Golden Buying Opportunity Few Investors Have Noticed Yet
Plains All American: Quality MLP Play With Good Income Growth Expected In 2026
PAA
Published: December 22, 2025 by: Seeking Alpha
Sentiment: Positive

PAA is undergoing a fundamental transformation, becoming a pure-play crude oil player. Given the pressures in the crude oil market and the market's appreciation of nat gas exposures (as an AI enabler), PAA has naturally landed in the backseat. For long-term investors, who want to combine high-yield with high-quality factor, this is an excellent setup for going on offense.

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image for news Plains All American: Quality MLP Play With Good Income Growth Expected In 2026
Plains All American (PAA) Up 8.2% Since Last Earnings Report: Can It Continue?
PAA
Published: December 05, 2025 by: Zacks Investment Research
Sentiment: Positive

Plains All American (PAA) reported earnings 30 days ago. What's next for the stock?

Read More
image for news Plains All American (PAA) Up 8.2% Since Last Earnings Report: Can It Continue?
Stop Waiting for “Rate Cuts.” Here's How to Build an 8% Yield Portfolio Even if the Fed Holds Rates in December
HTGC, PAA, TRMD
Published: December 04, 2025 by: 24/7 Wall Street
Sentiment: Positive

Many investors believe further interest rate cuts in December are guaranteed.

Read More
image for news Stop Waiting for “Rate Cuts.” Here's How to Build an 8% Yield Portfolio Even if the Fed Holds Rates in December
5 Ultra-High-Yield 8%-11% Dividend Stocks Are Way Too Cheap Now
APLE, ARCC, PAA, STWD, TU
Published: November 25, 2025 by: 24/7 Wall Street
Sentiment: Positive

Investors love dividend stocks, especially those with ultra-high yields, because they provide a substantial income stream and offer significant total return potential.

Read More
image for news 5 Ultra-High-Yield 8%-11% Dividend Stocks Are Way Too Cheap Now
Plains All American: Buy This 9% Yield While The Market Ignores Value
PAA
Published: November 20, 2025 by: Seeking Alpha
Sentiment: Positive

Plains All American is a high-yield midstream company trading at a value range with a 9% distribution yield and strong fundamentals. PAA's recent EPIC pipeline acquisition enhances its crude oil logistics network, expands export exposure, and is expected to generate mid-teens IRR and immediate synergies. The distribution is well-covered and further increases are possible as NGL sale proceeds are redeployed.

Read More
image for news Plains All American: Buy This 9% Yield While The Market Ignores Value
The Best REIT, BDC, And MLP To Retire On
AMLP, ARCC, BIZD, BXSL, CSWC, ENB, EPD, JEPQ, KMI, MAA, MPLX, O, PAA, PAGP, SCHD, UTG, VNQ
Published: November 12, 2025 by: Seeking Alpha
Sentiment: Positive

Discover the 3 dividend-paying powerhouses I'd trust to fund a lifetime of passive income. These high-yield investments combine safety, growth, and tax efficiency like few others. Learn why I believe these picks could anchor a durable dividend retirement portfolio.

Read More
image for news The Best REIT, BDC, And MLP To Retire On
3 Oil Pipeline MLP Stocks to Watch Despite Industry Headwinds
DK, ET, PAA
Published: November 11, 2025 by: Zacks Investment Research
Sentiment: Negative

Conservative capital spending by upstream players and gradual shifting to renewables may hurt the demand for midstream players??? assets. DK, ET and PAA are surviving the industry challenges.

Read More
image for news 3 Oil Pipeline MLP Stocks to Watch Despite Industry Headwinds
Plains All American Pipeline, L.P. Common Units (PAA) Q3 2025 Earnings Call Transcript
PAA
Published: November 05, 2025 by: Seeking Alpha
Sentiment: Neutral

Plains All American Pipeline, L.P. Common Units ( PAA ) Q3 2025 Earnings Call November 5, 2025 10:00 AM EST Company Participants Blake Fernandez - Vice President of Investor Relations Willie Chiang - President, CEO & Chairman of Plains All American GP LLC Al Swanson - Executive VP & CFO of Plains All American GP LLC Jeremy Goebel - Executive VP & Chief Commercial Officer of Plains All American GP LLC Chris Chandler - Executive VP & COO of Plains All American GP LLC Conference Call Participants Michael Blum - Wells Fargo Securities, LLC, Research Division Keith Stanley - Wolfe …

Read More
image for news Plains All American Pipeline, L.P. Common Units (PAA) Q3 2025 Earnings Call Transcript
Plains All American Q3 Earnings Beat Estimates, Sales Decline Y/Y
PAA
Published: November 05, 2025 by: Zacks Investment Research
Sentiment: Positive

PAA beats Q3 earnings estimates as cost reductions lift profits despite a 7% drop in sales.

Read More
image for news Plains All American Q3 Earnings Beat Estimates, Sales Decline Y/Y
My Top MLP And BDC I'd Buy For Retirement Income
EPD, ET, FDUS, MPLX, PAA, WES
Published: November 03, 2025 by: Seeking Alpha
Sentiment: Positive

There is a theory that says investors have to allocate capital towards the highest risk-adjusted return opportunities (e.g., where the Sharpe ratio is the highest). The return is defined as expected price gain and received income, while the risk is defined as expected share price volatility. Yet, as an income investor, I approach these variables differently. Return is defined as expected income, and risk is defined as the probability of income cut.

Read More
image for news My Top MLP And BDC I'd Buy For Retirement Income
4 Midstream Energy MLPs Offer Reliable Yields as High as 10%
CAPL, PAA, USAC, WES
Published: October 24, 2025 by: 24/7 Wall Street
Sentiment: Positive

Midstream energy stocks are the companies involved in the processing, transportation, and storage of crude oil, natural gas, and natural gas liquids.

Read More
image for news 4 Midstream Energy MLPs Offer Reliable Yields as High as 10%
Plains All American: Buy This Huge 9%+ Yield
PAA
Published: October 20, 2025 by: Seeking Alpha
Sentiment: Positive

Plains All American (PAA) offers a compelling 9% yield, supported by a resilient fee-based business model and low commodity price exposure. PAA stands to benefit from rising North American energy demand, driven by AI data center growth and expanding US oil exports. Recent acquisition of a 55% stake in the EPIC pipeline, financed by asset sales, highlights PAA's disciplined approach to accretive M&A.

Read More
image for news Plains All American: Buy This Huge 9%+ Yield
An Excellent 5-Fund Dividend Portfolio I'd Build To Retire On
AMLP, EPD, ET, JEPQ, MLPA, MPLX, PAA, PFF, PFFA, QQQI, SCHD, UTF, UTG, VST, WES, XLU
Published: October 17, 2025 by: Seeking Alpha
Sentiment: Positive

A simple five-fund portfolio for high yield, growth, and diversification. Earn 7–9% income while still beating inflation through dividend growth. Here's how to build a simple retirement portfolio for lasting income.

Read More
image for news An Excellent 5-Fund Dividend Portfolio I'd Build To Retire On

About Plains All American Pipeline, L.P. (PAA)

  • IPO Date 1998-11-18
  • Website https://www.plainsallamerican.com
  • Industry Oil & Gas Midstream
  • CEO Wilfred Chiang
  • Employees 4200

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars. This segment provides terminalling, storage, and other facilities-related services, as well as merchant activities. As of December 31, 2021, this segment owned and leased 18,300 miles of active crude oil transportation pipelines and gathering systems, as well as an additional 110 miles of pipelines that supports crude oil storage and terminalling facilities; 74 million barrels of commercial crude oil storage capacity; 38 million barrels of active, above-ground tank capacity; four marine facilities; a condensate processing facility; seven crude oil rail terminals and 2,100 crude oil railcars; and 640 trucks and 1,275 trailers. The Natural Gas Liquids segment engages in the natural gas processing, NGL fractionation, storage, transportation, and terminalling activities. As of December 31, 2021, this segment owned and operated four natural gas processing plants; nine fractionation plants; 28 million barrels of NGL storage capacity; approximately 1,620 miles of active NGL transportation pipelines, as well as an additional 55 miles of pipeline that supports NGL storage facilities; 16 NGL rail terminals and approximately 3,900 NGL rail cars; and approximately 220 trailers. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.