NasdaqGS:PAAOil and Gas
Plains All American Pipeline (PAA) Stock Sees Debt Relief But Capex Questions Linger
Plains All American Pipeline came into this earnings season with a reputation as a high yield, leverage heavy midstream stock trading on a richer P/E than much of the oil and gas sector. The unit price has slipped about 3% to US$22.81 since the report, which signals some disappointment even as the headline figures show adjusted EBITDA of US$738m and Q2 revenue of US$17,693m.
The real story is on the balance sheet. Plains All American Pipeline used the Canadian natural gas liquids sale to cut...