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Plains All American Pipeline

DB:PLM
Snowflake Description

Undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PLM
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The last earnings update was 41 days ago. More info.


Add to Portfolio Compare Print
  • Plains All American Pipeline is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Plains All American Pipeline has significant price volatility in the past 3 months.
PLM Share Price and Events
7 Day Returns
-0.8%
DB:PLM
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-78.1%
DB:PLM
34.4%
DE Oil and Gas
-14.2%
DE Market
PLM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Plains All American Pipeline (PLM) -0.8% -54.1% -72.1% -78.1% -83.6% -89.8%
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • PLM underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • PLM underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
PLM
Industry
5yr Volatility vs Market

PLM Value

 Is Plains All American Pipeline undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Plains All American Pipeline to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Plains All American Pipeline.

DB:PLM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:PLM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.972 (1 + (1- 21%) (272.47%))
2.383
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:PLM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Plains All American Pipeline is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:PLM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 988.00 Analyst x3 894.20
2021 1,247.06 Analyst x5 1,021.51
2022 1,469.00 Analyst x1 1,089.06
2023 1,588.45 Est @ 8.13% 1,065.81
2024 1,677.00 Est @ 5.57% 1,018.40
2025 1,740.49 Est @ 3.79% 956.61
2026 1,784.57 Est @ 2.53% 887.71
2027 1,814.12 Est @ 1.66% 816.74
2028 1,833.03 Est @ 1.04% 746.90
2029 1,844.26 Est @ 0.61% 680.13
Present value of next 10 years cash flows $9,177.00
DB:PLM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $1,844.26 × (1 + -0.39%) ÷ (10.49% – -0.39%)
$16,884.78
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $16,884.78 ÷ (1 + 10.49%)10
$6,226.81
DB:PLM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $9,177.00 + $6,226.81
$15,403.81
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $15,403.81 / 728.05
$21.16
DB:PLM Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PLM represents 0.87919x of NYSE:PAA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87919x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 21.16 x 0.87919
€18.60
Value per share (EUR) From above. €18.60
Current discount Discount to share price of €4.77
= -1 x (€4.77 - €18.60) / €18.60
74.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Plains All American Pipeline is available for.
Intrinsic value
>50%
Share price is €4.77 vs Future cash flow value of €18.6
Current Discount Checks
For Plains All American Pipeline to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Plains All American Pipeline's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Plains All American Pipeline's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Plains All American Pipeline's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Plains All American Pipeline's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PLM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $2.71
NYSE:PAA Share Price ** NYSE (2020-04-08) in USD $5.43
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Plains All American Pipeline.

DB:PLM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PAA Share Price ÷ EPS (both in USD)

= 5.43 ÷ 2.71

2.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Plains All American Pipeline is good value based on earnings compared to the Europe Oil and Gas industry average.
  • Plains All American Pipeline is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Plains All American Pipeline's expected growth come at a high price?
Raw Data
DB:PLM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 2.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
-22.3%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:PLM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 2.01x ÷ -22.3%

-0.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Plains All American Pipeline earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Plains All American Pipeline's assets?
Raw Data
DB:PLM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $14.79
NYSE:PAA Share Price * NYSE (2020-04-08) in USD $5.43
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:PLM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PAA Share Price ÷ Book Value per Share (both in USD)

= 5.43 ÷ 14.79

0.37x

* Primary Listing of Plains All American Pipeline.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Plains All American Pipeline is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Plains All American Pipeline's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Plains All American Pipeline has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PLM Future Performance

 How is Plains All American Pipeline expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-22.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Plains All American Pipeline expected to grow at an attractive rate?
  • Plains All American Pipeline's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Plains All American Pipeline's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Plains All American Pipeline's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PLM Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PLM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts -22.3%
DB:PLM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts -0.9%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:PLM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PLM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 35,991 2,132 1,204 3
2021-12-31 30,783 2,119 1,081 10
2020-12-31 31,832 2,032 1,185 10
2020-04-08
DB:PLM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 33,669 2,504 1,967
2019-09-30 33,301 3,092 2,773
2019-06-30 34,205 3,057 3,034
2019-03-31 34,032 3,120 2,689
2018-12-31 34,055 2,608 2,009
2018-09-30 32,874 1,875 1,084
2018-06-30 29,955 2,053 418
2018-03-31 27,954 2,204 516
2017-12-31 26,223 2,499 685
2017-09-30 24,569 2,003 637
2017-06-30 23,867 1,807 808
2017-03-31 22,739 914 578

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Plains All American Pipeline's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Plains All American Pipeline's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:PLM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Plains All American Pipeline Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PLM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 1.65 2.22 1.29 5.00
2021-12-31 1.43 1.87 0.94 10.00
2020-12-31 1.51 2.00 1.09 10.00
2020-04-08
DB:PLM Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 2.71
2019-09-30 3.82
2019-06-30 4.17
2019-03-31 3.70
2018-12-31 2.77
2018-09-30 1.49
2018-06-30 0.58
2018-03-31 0.71
2017-12-31 0.96
2017-09-30 0.91
2017-06-30 1.31
2017-03-31 1.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Plains All American Pipeline is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Plains All American Pipeline's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Plains All American Pipeline has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PLM Past Performance

  How has Plains All American Pipeline performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Plains All American Pipeline's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Plains All American Pipeline has delivered over 20% year on year earnings growth in the past 5 years.
  • Plains All American Pipeline's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Plains All American Pipeline's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
Plains All American Pipeline's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Plains All American Pipeline Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PLM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 33,669.00 1,967.00 297.00
2019-09-30 33,301.00 2,773.00 309.00
2019-06-30 34,205.00 3,034.00 308.00
2019-03-31 34,032.00 2,689.00 313.00
2018-12-31 34,055.00 2,009.00 316.00
2018-09-30 32,874.00 1,084.00 298.00
2018-06-30 29,955.00 418.00 292.00
2018-03-31 27,954.00 516.00 275.00
2017-12-31 26,223.00 685.00 270.00
2017-09-30 24,569.00 637.00 273.00
2017-06-30 23,867.00 808.00 275.00
2017-03-31 22,739.00 578.00 286.00
2016-12-31 20,182.00 200.00 279.00
2016-09-30 19,227.00 204.00 271.00
2016-06-30 19,607.00 139.00 261.00
2016-03-31 21,320.00 197.00 267.00
2015-12-31 23,152.00 305.00 278.00
2015-09-30 27,615.00 464.00 285.00
2015-06-30 33,191.00 559.00 303.00
2015-03-31 37,722.00 748.00 314.00
2014-12-31 43,464.00 878.00 325.00
2014-09-30 44,637.00 826.00 340.00
2014-06-30 44,212.00 766.00 342.00
2014-03-31 43,313.00 796.00 342.00
2013-12-31 42,249.00 960.00 359.00
2013-09-30 41,056.00 992.00 341.00
2013-06-30 39,708.00 948.00 343.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Plains All American Pipeline has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Plains All American Pipeline used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Plains All American Pipeline has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Plains All American Pipeline's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Plains All American Pipeline has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PLM Health

 How is Plains All American Pipeline's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Plains All American Pipeline's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Plains All American Pipeline's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Plains All American Pipeline's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Plains All American Pipeline's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Plains All American Pipeline Company Filings, last reported 3 months ago.

DB:PLM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 13,229.00 9,668.00 45.00
2019-09-30 13,111.00 10,201.00 609.00
2019-06-30 13,073.00 9,595.00 419.00
2019-03-31 12,762.00 9,271.00 436.00
2018-12-31 12,038.00 9,218.00 66.00
2018-09-30 11,350.00 9,569.00 29.00
2018-06-30 10,824.00 9,909.00 34.00
2018-03-31 11,036.00 9,824.00 23.00
2017-12-31 10,980.00 9,931.00 37.00
2017-09-30 10,313.00 11,417.00 33.00
2017-06-30 10,536.00 11,162.00 47.00
2017-03-31 10,626.00 11,263.00 38.00
2016-12-31 8,848.00 11,889.00 47.00
2016-09-30 9,074.00 11,193.00 31.00
2016-06-30 8,970.00 10,943.00 34.00
2016-03-31 9,371.00 10,006.00 36.00
2015-12-31 7,939.00 11,424.00 27.00
2015-09-30 8,216.00 10,708.00 22.00
2015-06-30 8,705.00 10,060.00 28.00
2015-03-31 8,836.00 9,460.00 458.00
2014-12-31 8,191.00 10,061.00 403.00
2014-09-30 8,130.00 8,604.00 34.00
2014-06-30 8,112.00 8,177.00 27.00
2014-03-31 7,783.00 7,699.00 30.00
2013-12-31 7,703.00 7,828.00 41.00
2013-09-30 7,684.00 7,637.00 33.00
2013-06-30 7,629.00 7,215.00 16.00
  • Plains All American Pipeline's level of debt (73.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (122.6% vs 73.1% today).
  • Debt is well covered by operating cash flow (25.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.8x coverage).
X
Financial health checks
We assess Plains All American Pipeline's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Plains All American Pipeline has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PLM Dividends

 What is Plains All American Pipeline's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
26.52%
Current annual income from Plains All American Pipeline dividends. Estimated to be 23.63% next year.
If you bought €2,000 of Plains All American Pipeline shares you are expected to receive €530 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Plains All American Pipeline's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • Plains All American Pipeline's dividend is above the markets top 25% of dividend payers in Germany (4.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:PLM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:PLM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 1.65 3.00
2023-12-31 1.56 4.00
2022-12-31 1.35 12.00
2021-12-31 1.22 21.00
2020-12-31 1.21 21.00
2020-04-08
DB:PLM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-01-08 1.440 15.175
2019-10-07 1.440 7.881
2019-07-03 1.440 6.463
2019-01-08 1.200 5.039
2018-10-05 1.200 5.333
2018-07-09 1.200 4.753
2018-04-09 1.200 4.966
2018-01-08 1.200 5.451
2017-11-09 1.200 5.895
2017-11-06 1.200 5.657
2017-07-05 2.200 9.964
2017-05-10 2.200 8.453
2017-05-08 2.200 7.987
2017-01-09 2.500 8.047
2016-07-11 2.800 9.275
2016-04-07 2.800 11.411
2016-01-12 2.800 13.557
2015-10-07 2.800 11.060
2015-07-07 2.780 7.834
2015-05-08 2.740 5.960
2015-05-05 2.740 5.573
2015-01-08 2.700 5.428
2014-10-08 2.640 5.035
2014-07-08 2.580 4.410
2014-04-07 2.520 4.415
2014-01-09 2.460 4.658
2013-10-01 2.400 4.701
2013-07-08 2.350 4.420
2013-04-08 2.300 4.066
2013-01-07 2.250 4.229
2012-10-04 2.170 4.762
2012-07-09 2.130 4.890
2012-04-10 2.090 5.260
2012-01-10 2.050 5.212
2011-10-11 1.990 5.982
2011-07-11 1.965 6.465
2011-04-11 1.940 6.198
2011-01-12 1.915 6.007
2010-10-12 1.900 6.053
2010-07-13 1.885 6.088
2010-04-13 1.870 6.460
2010-01-20 1.855 6.696
2009-10-19 1.840 7.198
2009-07-15 1.810 7.617

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Plains All American Pipeline's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Plains All American Pipeline's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Plains All American Pipeline afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Plains All American Pipeline has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PLM Management

 What is the CEO of Plains All American Pipeline's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Willie Chiang
COMPENSATION $8,892,983
AGE 58
TENURE AS CEO 1.5 years
CEO Bio

Mr. Wilfred C. W. Chiang, also known as Willie, serves as Chief Executive Officer and Director of PAA GP Holdings LLC at Plains GP Holdings LP and also serves as Chairman of the Board since January 1, 2020. He served as Executive Vice President and Chief Operating Officer of PAA GP Holdings LLC since August 2015 and January 5, 2018 respectively. Mr. Chiang served as Executive Vice President of Plains All American GP LLC from August 2015 to October 1, 2018. He serves as Chief Executive Officer of Plains All American GP LLC. He has been Director of Plains All American GP LLC since February 2017. He serves as the Chairman of Plains All American GP LLC. He had been Chief Operating Officer of Plains All American GP LLC from January 5, 2018 to October 1, 2018. He served as its Chief Operating Officer (U.S.) from August 2015 to December 2017. He served as Executive Vice President and Chief Operating Officer of US at Plains Pipeline, L.P. He serves as Chairman of the Board and Chief Executive Officer at PAA GP Holdings LLC since January 1, 2020. He was Chief Operating Officer (U.S.) of PAA GP Holdings LLC from August 2015 through December 2017. Mr. Chiang has been a Director of PAA GP Holdings LLC, General Partner of Plains GP Holdings, L.P. since February 2017. Mr. Chiang joined PAA Natural Gas Storage, L.P. in 2015 from Occidental Petroleum Corporation where he served as Executive Vice President of Operations from 2012 to 2015. From 1996 to 2012, he served in various positions at ConocoPhillips, including Senior Vice President – Refining, Marketing, Transportation, and Commercial. He serves as a Director of Chevron Phillips Chemical. He served as a Director of DCP Midstream GP, LLC. He served as a Director of DCP Midstream, LP from December 19, 2007 to October 16, 2008. He has been extensively involved in the American Petroleum Institute. He serves in Director roles on the United Way of Greater Houston Board, and Society for the Performing Arts, as well as the Board of Trustees for the South Dakota School of Mines and Technology Foundation. Mr. Chiang holds a bachelor’s degree in Mechanical Engineering from the South Dakota School of Mines and Technology and completed the Advanced Management Program at the University of Pennsylvania’s Wharton School of Business.

CEO Compensation
  • Willie's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Willie's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Plains All American Pipeline management team in years:

8.9
Average Tenure
58
Average Age
  • The average tenure for the Plains All American Pipeline management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Willie Chiang

TITLE
CEO & Chairman of Plains All American GP LLC
COMPENSATION
$9M
AGE
58
TENURE
1.5 yrs

Harry Pefanis

TITLE
President
COMPENSATION
$2M
AGE
62
TENURE
22.3 yrs

Al Swanson

TITLE
Executive VP & CFO of Plains All American GP LLC
COMPENSATION
$3M
AGE
55
TENURE
11.4 yrs

Richard McGee

TITLE
Executive VP
COMPENSATION
$3M
AGE
58
TENURE
8.1 yrs

Greg Armstrong

TITLE
Senior Advisor to the CEO & Director of Plains All American GP LLC
COMPENSATION
$2M
AGE
61

Chris Chandler

TITLE
Executive VP & COO of Plains All American GP LLC
TENURE
1.1 yrs

Chris Herbold

TITLE
Senior VP & Chief Accounting Officer of Plains All American GP LLC
AGE
47
TENURE
9.7 yrs

Al Lindseth

TITLE
Senior Vice President of Technology
AGE
49
TENURE
16.8 yrs

Roy Lamoreaux

TITLE
VP of Investor Relations
TENURE
3 yrs

Brett Magill

TITLE
Director of Investor Relations - Plains All American GP LLC
Board of Directors Tenure

Average tenure and age of the Plains All American Pipeline board of directors in years:

10.1
Average Tenure
65
Average Age
  • The average tenure for the Plains All American Pipeline board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Willie Chiang

TITLE
CEO & Chairman of Plains All American GP LLC
COMPENSATION
$9M
AGE
58

Harry Pefanis

TITLE
President
COMPENSATION
$2M
AGE
62
TENURE
3.2 yrs

Greg Armstrong

TITLE
Senior Advisor to the CEO & Director of Plains All American GP LLC
COMPENSATION
$2M
AGE
61

Bob Sinnott

TITLE
Director of Plains All American GP LLC
COMPENSATION
$159K
AGE
70
TENURE
21.6 yrs

Bobby Shackouls

TITLE
Independent Director of Plains All American GP LLC
COMPENSATION
$184K
AGE
68
TENURE
3.4 yrs

Gary Petersen

TITLE
Independent Director of Plains All American GP LLC
COMPENSATION
$180K
AGE
73
TENURE
18.8 yrs

John Raymond

TITLE
Director of Plains All American GP LLC
COMPENSATION
$155K
AGE
48
TENURE
9.3 yrs

J. Symonds

TITLE
Independent Director of Plains All American GP LLC
COMPENSATION
$195K
AGE
80
TENURE
18.8 yrs

Chris Temple

TITLE
Independent Director of Plains All American GP LLC
COMPENSATION
$180K
AGE
51
TENURE
10.9 yrs

Victor Burk

TITLE
Independent Director of Plains All American GP LLC
COMPENSATION
$195K
AGE
69
TENURE
3.4 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Plains All American Pipeline individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
18. Mar 20 Buy Wilfred Chiang Individual 16. Mar 20 16. Mar 20 45,400 €4.89 €221,812
16. Mar 20 Buy Jeremy Goebel Individual 13. Mar 20 13. Mar 20 3,000 €6.02 €18,049
12. Mar 20 Buy Harry Pefanis Individual 12. Mar 20 12. Mar 20 20,000 €6.29 €125,858
27. Feb 20 Buy Harry Pefanis Individual 26. Feb 20 26. Feb 20 30,000 €13.02 €390,530
25. Sep 19 Sell Occidental Petroleum Investment Co. Company 23. Sep 19 23. Sep 19 -14,977,890 €19.32 €-289,443,980
16. Aug 19 Sell Chris Herbold Individual 14. Aug 19 14. Aug 19 -21,518 €19.19 €-412,853
29. May 19 Sell EMG Fund II Management, L.P. Company 28. May 19 28. May 19 -8,179,284 €20.67 €-169,064,819
X
Management checks
We assess Plains All American Pipeline's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Plains All American Pipeline has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PLM News

Simply Wall St News

PLM Company Info

Description

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment transports crude oil and NGL through pipelines, gathering systems, trucks, and barges. As of December 31, 2018, this segment owned and leased 17,965 miles of active crude oil and NGL pipelines and gathering systems; 31 million barrels of active and above-ground tank capacity; 830 trailers; 50 transport and storage barges; and 20 transport tugs. The Facilities segment provides storage, terminalling, and throughput services for crude oil, NGL, and natural gas; and NGL fractionation and isomerization, and natural gas and condensate processing services. This segment owned and operated approximately 77 million barrels of crude oil storage capacity; 32 million barrels of NGL storage capacity; 63 billion cubic feet of natural gas storage working capacity; 25 billion cubic feet of base gas; 7 natural gas processing plants; 1 condensate processing facility; 8 fractionation plants; 33 crude oil and NGL rail terminals; 5 marine facilities; and approximately 425 miles of active pipelines. The Supply and Logistics segment purchases crude oil at the wellhead, pipeline, terminal, and rail facilities; stores inventory, and NGL and natural gas; purchases NGL from producers, refiners, processors, and other marketers; resells or exchanges crude oil and NGL; and transports crude oil and NGL on trucks, barges, railcars, pipelines, and vessels. This segment owned 15 million barrels of crude oil and NGL linefill; 4 million barrels of crude oil and NGL linefill; 750 trucks and 900 trailers; and 9,100 crude oil and NGL railcars. The company was founded in 1998 and is headquartered in Houston, Texas.

Details
Name: Plains All American Pipeline, L.P.
PLM
Exchange: DB
Founded: 1998
$3,448,005,398
728,050,904
Website: http://www.plainsallamerican.com
Address: Plains All American Pipeline, L.P.
333 Clay Street,
Suite 1600,
Houston,
Texas, 77002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PAA Common Units New York Stock Exchange US USD 18. Nov 1998
DB PLM Common Units Deutsche Boerse AG DE EUR 18. Nov 1998
LSE 0S3F Common Units London Stock Exchange GB USD 18. Nov 1998
Number of employees
Current staff
Staff numbers
5,000
Plains All American Pipeline employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 22:25
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/08
Last earnings filing: 2020/02/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.