公司业绩概述 - 公司第二季度业绩超预期,营收和调整后EBITDA同比分别增长12%和15% [2][3] - 公司全年调整后EBITDA指引上调7500万美元至27.25-27.75亿美元,突显了公司业务模式的韧性和资产灵活性 [3][4] - 公司保持资本纪律,持续产生可观的自由现金流,并增加对股东的资本回报 [4] 业务表现分析 - 原油板块第二季度调整后EBITDA同比增长9%,主要受益于管道输量增加、运价上涨和收购带来的贡献 [18] - NGL板块第二季度调整后EBITDA同比增长52%,主要受益于2023年二季度检修导致销量下降以及2024年二季度正丁烷与异丁烷价差带来的额外收益 [19] 财务状况 - 公司资产负债表稳健,长期债务占总资本比例维持在41% [54] - 公司二季度自由现金流为4.21亿美元,全年指引为15.5亿美元,保持良好的现金流水平 [14] 展望 - 公司将继续专注于为投资者创造长期价值,保持资本纪律,产生可观的自由现金流,并增加对股东的资本回报 [4] - 公司面临一些潜在风险,如需求下滑、价格波动、竞争加剧等,需要密切关注 [165]

文章核心观点 - 公司在第二季度业绩超预期,调高了全年调整后EBITDA指引 [2][4][6] - 公司在原油和天然气液体业务表现良好,带动了整体业绩的提升 [18][19] 根据相关目录分别进行总结 财务业绩 - 第二季度净收入为2.5亿美元,经调整后EBITDA为6.74亿美元 [2] - 经调整后自由现金流为4.21亿美元,扣除资产和负债变动后为4.35亿美元 [3][11] - 全年调整后EBITDA指引上调至27.25-27.75亿美元,全年调整后自由现金流指引维持在15.5亿美元 [4][5] 业务表现 - 原油业务第二季度调整后EBITDA同比增长9%,主要受益于管道输量增加、运价上涨和收购资产带来的贡献 [18] - 天然气液体业务第二季度调整后EBITDA同比增长52%,主要受益于2023年二季度检修影响销量以及2024年二季度正丁烷与异丁烷价差带来的增量利润 [19] 其他 - 公司在2024年6月成功发行6.5亿美元5.7%到期2034年的无担保优先票据 [3] - 公司维持资本纪律,专注于创造长期价值,同时保持财务灵活性 [6]

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that t ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves a ...

Have you been paying attention to shares of Plains All American Pipeline (PAA) ? Shares have been on the move with the stock up 12.2% over the past month. The stock hit a new 52-week high of $19.04 in the previous session. Plains All American Pipeline has gained 24.3% since the start of the year compared to the 7.5% move for the Zacks Oils-Energy sector and the 15.9% return for the Zacks Oil and Gas - Production Pipeline - MLB industry.What's Driving the Outperformance?The stock has an impressive record of ...

文章核心观点 - 公司发布了2023年度Schedule K-3报表,该报表包含了与国际税收相关的信息 [1] - 部分股东可能需要该报表中的详细信息来完成其报税需求,公司鼓励这些股东查看并咨询税务顾问 [1] - 股东可以通过电话方式获取电子版的Schedule K-3报表 [2] 公司概况 - 公司是一家上市的主要有限合伙企业,拥有和运营中游能源基础设施,提供原油和天然气液体的物流服务 [3] - 公司拥有广泛的管道收集和运输系统,以及码头、储存、加工、分馏等基础设施资产,服务于美国和加拿大的主要产区、运输走廊和主要市场枢纽 [3] - 公司平均每天处理约800万桶原油和天然气液体 [3] - 公司还有一家上市实体PAGP,拥有公司的间接非经济控股普通合伙权益和有限合伙权益 [4] - 公司总部位于德克萨斯州休斯顿 [4]

文章核心观点 - 公司2024年业绩指引存在较大差异,管理层可能存在"压低"的倾向 [9][12] - 公司未来增长主要依赖于并购等外延式发展,内生增长动力有限 [13] - 公司分红政策可能面临一定压力,未来可能选择维持分红水平而不再增加 [14] 行业分析 - 美国原油产量虽创新高,但增长动力正在减弱,未来增长可能放缓 [2][3][4] - 天然气管道运力短缺是制约页岩油增产的一大瓶颈 [3][4] - OPEC+已成功推动原油库存下降至低于历史平均水平 [5] 公司业绩 - 公司一季度EBITDA为7.18亿美元,维持2024年指引 [6] - 公司预计2024年EBITDA为26.5-27.5亿美元,但实际可能接近28.5-29亿美元 [9][12] - 公司预计2023年自由现金流至少15.5亿美元,有望超出 [6][14] - 公司加大并购力度,2023年资本支出预计30-40亿美元 [13] 公司展望 - 公司分红政策面临一定压力,未来可能维持现有水平 [13][14] - 公司股价处于突破性上涨通道,短期内有望延续上涨趋势 [16] - 公司整体仍具有较强的现金流和分红能力,适合采取卖出期权收益的投资策略 [17][18]

HOUSTON, June 17, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NYSE:PAA) today announced that it and PAA Finance Corp., a wholly-owned subsidiary of PAA, as co-issuer, have priced an underwritten public offering (the "Offering") of $650 million aggregate principal amount of 5.700% senior unsecured notes (the "Notes") due 2034 at a price to the public of 99.953% of their face value. The Offering is expected to close on June 27, 2024, subject to the satisfaction of customary closing conditions ...

HOUSTON, June 17, 2024 (GLOBE NEWSWIRE) -- Plains All American Pipeline, L.P. (NYSE: PAA) today announced that it and PAA Finance Corp., a wholly-owned subsidiary of PAA, as co-issuer, have priced an underwritten public offering (the “Offering”) of $650 million aggregate principal amount of 5.700% senior unsecured notes (the “Notes”) due 2034 at a price to the public of 99.953% of their face value. The Offering is expected to close on June 27, 2024, subject to the satisfaction of customary closing condition ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a ...