Plains All American's Q2 2026 results show a dramatic balance sheet improvement, with total debt falling from $11.6B to $8.6B and D/E dropping to 0.60, while a $1.8B net income quarter (EPS $2.51) boosted equity to $11.1B. However, this earnings spike appears ...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue surged 66.3% sequentially to $17.7B in Q2 2026, but gross margin remained thin at 4.6% and operating margin at 2.2%, reflecting the high-volume, low-margin merchant model.
Plains All American Pipeline is transforming into a pure-play crude oil company, which could streamline operations and enhance profitability.
The Wall Street consensus price target suggests an 11.4% upside potential, indicating bullish sentiment among analysts.
The company's premier integrated midstream infrastructure connects crude oil supply to key demand centers, ensuring operational efficiency and market relevance.
Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 7, 2026 | $0.41+7.4% vs $0.38 | $17.7B+39.1% vs $12.7B |
Q2 2026 May 8, 2026 | $0.39+6.2% vs $0.37 | $12.5B+3.7% vs $12.0B |
Q1 2026 Feb 6, 2026 | $0.40-14.9% vs $0.47 | $10.6B-17.8% vs $12.9B |
Q4 2025 Nov 5, 2025 | $0.39+9.9% vs $0.35 | $11.6B-7.5% vs $12.5B |
Energy prices look set to stay elevated through the rest of 2026 and beyond, and four high-yielding energy stocks are quietly positioned to turn that pressure into serious passive income for shareholders willing to act before the crowd catches on.
Plains All American is a leading crude oil midstream platform, delivering robust Q2'26 results and 10% year-over-year adjusted EBITDA growth. PAA's acquisition of Silver Creek Midstream's Powder River Basin assets for $585 million in cash strengthens its downstream capabilities and supports its acquisition-driven growth strategy. The company's distribution increased ~10% in January 2026, with strong coverage at 1.68x, outpacing MLP peers.
Corient Private Wealth LP cut its holdings in Plains All American Pipeline Lp (NASDAQ: PAA) by 22.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 317,624 shares of the company's stock after selling 89,556 shares during the quarter. Corient Private Wealth LP's
Plains All American Pipeline plans a $585 million Silver Creek deal to deepen its Rockies footprint and add crude oil pipeline and storage capacity.
Benchmark PAA against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Plains All American Pipeline, L.P. (PAA)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $24.44 | $17.24B | 14.72 | -11.61% | 3.24% | 10.96% | 6.22% | |
| $37.57 | $81.28B | 14.12 | -6.44% | 10.77% | 20.63% | — | |
| $20.49 | $70.51B | 15.18 | -0.05% | 5.57% | 11.82% | — | |
| $58.81 | $59.68B | 12.20 | 8.37% | 36.75% | 32.9% | — | |
| $45.65 | $18.86B | 15.22 | 6.61% | 29.2% | 32.85% | — | |
| $26.69 | $5.28B | 20.37 | -11.61% | 1.06% | 3.85% | — |
Plains All American Pipeline, L.P. (PAA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Plains All American Pipeline, L.P. (PAA) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 7, 2026·SEC
Jun 17, 2026·SEC
Jun 2, 2026·SEC
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Plains All American Pipeline, L.P. (PAA) stock FAQ — growth, dividends, profitability & financials explained
Plains All American Pipeline, L.P. (PAA) reported $52.22B in revenue for fiscal year 2025. This represents a 6839% increase from $752.5M in 1997.
Plains All American Pipeline, L.P. (PAA) saw revenue decline by 11.6% over the past year.
Yes, Plains All American Pipeline, L.P. (PAA) is profitable, generating $2.77B in net income for fiscal year 2025 (3.2% net margin).
Yes, Plains All American Pipeline, L.P. (PAA) pays a dividend with a yield of 6.22%. This makes it attractive for income-focused investors.
Plains All American Pipeline, L.P. (PAA) has a return on equity (ROE) of 11.0%. This is reasonable for most industries.
Plains All American Pipeline, L.P. (PAA) generated $2.38B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
