NasdaqGS:PAAOil and Gas
Should Plains All American Pipeline’s Portfolio Shift Toward Stable Earnings Require Action From PAA Investors?
Plains All American Pipeline has moved to safeguard its payout by selling its Canadian natural gas liquids assets for US$3.80 billion and acquiring the Epic Crude Oil Pipeline, aiming for about 85% of earnings from more stable sources and a leverage ratio around the midpoint of its 3.5 times target range.
This reshaping of the portfolio, combined with a comfortably covered high-yield payout and an ambition for roughly 10% annual dividend growth until reaching its target coverage, signals a...