NASDAQ: PAA
Plains All American Pipeline, L.P.
Energy · Oil & Gas Midstream
After hours: $21.64(+1.41%) · as of 7:47 PM ET
Market Cap
$15.06B
52w High
$24.26
52w Low
$15.69
P/E
13.16
Volume
8.12M
Outstanding Shares
705.53M
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 15.92% over the last year. Revenue declined 9.51% over the trailing twelve months. Operating margin moved from 2.6% to 2.97%. Free cash flow grew 0.61% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 2.97%. A decisive move in revenue — currently down 9.51% — would be the clearest signal to resolve the ambiguity.
Company profile
Plains All American Pipeline, L.P. operates a substantial midstream energy network across the United States and Canada, specializing in the transportation, storage, gathering, and terminalling of both crude oil and natural gas liquids (NGLs).
Valuation
Stock splits
Every 1 shares became 2
Profitability & growth
Analyst consensus
24
Buy
17
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 14, 2026
Q3 FY26 · EPS est $0.41 · Revenue est $12.75B
View
Dividends
$1.60/shareQuarterly5yr growth streakAt RiskPAA pays a dividend with a 7.47% dividend yield, 5 consecutive years of growth, growing at 17.24% annually, covered 1.8× by free cash flow.
Dividend Yield
7.47%
Annual Div / Share
$1.60
5yr CAGR
+17.24%
Doubles every ~4.4yr
Payout Ratio
114.59%
At Risk
Dividend Growth Rate
3yr CAGR
+17.97%
5yr CAGR
+17.24%
10yr CAGR
-5.46%
Dividend History
Annualized dividend cycles per share
Income Projection
Today
$6/mo
In 5 yrs
$11/mo
In 10 yrs
$19/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$75/yr $6/mo | $132/yr+76% $11/mo | $232/yr+211% $19/mo |
Long-range projections use a capped 12% annual growth assumption.
Yield-on-cost grows from 7.47% → 23.21% over 10yr
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 1.8× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 17.24% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
High payout ratio
With 114.59% of earnings paid as dividends, there is limited retained earnings for reinvestment — and a dividend cut becomes more likely if earnings decline.