Plains All American Pipeline, L.P. (PAA)
Energy · NMS
Price as at 1 Oct 2026, 02:38 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
Plains All American Pipeline, L.P. trades at $23.72, which is 55% above the $10.72 our fair value estimate puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 31 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 21.3 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
PAA dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | $1.25 | 3 |
| 2025 | $1.52 | 4 |
| 2024 | $1.27 | 4 |
| 2023 | $1.07 | 4 |
| 2022 | $0.834 | 4 |
| 2021 | $0.720 | 4 |
| 2020 | $0.900 | 4 |
| 2019 | $1.38 | 4 |
| 2018 | $1.20 | 4 |
| 2017 | $1.95 | 4 |
| 2016 | $2.65 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
PAA earnings and analyst estimates
Recommendation mix, 18 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About Plains All American Pipeline, L.P.
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, trucks, and on barges or railcars. This segment provides terminalling, storage, and other related services, as well as merchant activities. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminaling. This segment also includes ethane, propane, normal butane, iso-butane, and natural gasoline derived from natural gas production and processing activities, as well as crude oil refining processes. Its NGL components are used for various applications, such as heating, engine, and industrial fuels. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
PAA passes 5 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
2 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Ken Griffin, CITADEL ADVISORS LLC$21.98M · 0.0% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$230.1K · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Politician trades in PAA
We hold 16 disclosed trades in PAA by members of Congress and executive-branch officials. The latest 5:
- David A. Trott · HouseBuy · $1,001 - $15,000 · traded 6 Dec 2018 · disclosed 8 Jan 2019
- Bill Flores · HouseBuy · $1,001 - $15,000 · traded 30 Oct 2018 · disclosed 14 Nov 2018
- Bill Flores · HouseBuy · $1,001 - $15,000 · traded 18 Oct 2018 · disclosed 14 Nov 2018
- Bill Flores · HouseBuy · $1,001 - $15,000 · traded 26 Sept 2018 · disclosed 9 Oct 2018
- Bill Flores · HouseBuy · $1,001 - $15,000 · traded 10 Sept 2018 · disclosed 9 Oct 2018
A disclosure reports a value band, not an amount, and is due up to 45 days after the trade; some arrive later. Every filer we track, each with their own page, is on the Congress trading tracker.
PAA peers
The largest companies in the same industry (Oil & Gas Midstream), then in the same sector.
- ENB Enbridge Inc.
- EPD Enterprise Products Partners L.P.
- TRP TC Energy Corporation
- ET Energy Transfer LP
- MPLX MPLX LP
- VG Venture Global, Inc.
- PBA Pembina Pipeline Corporation
- AM Antero Midstream Corporation
Every energy company we cover is on the Energy hub.
Common questions
Is Plains All American Pipeline, L.P. (PAA) undervalued?
Against our fair value estimate of $10.72, PAA at $23.72 is 55% above fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own PAA?
2 of the institutions we track reported a position in PAA in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is PAA's P/E ratio?
PAA trades at 21.3 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does Plains All American Pipeline, L.P. (PAA) pay a dividend?
Yes. Plains All American Pipeline, L.P. yields 6.94% at the current share price. It has paid $1.63 per share over the trailing twelve months. It has paid a dividend in each of the last 27 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
Where does SteadyShares get its PAA data?
Fundamentals for PAA come from company filings and exchange data, as listed on NMS; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 1 Oct 2026, 02:38 UTC and is delayed. Our data quality score for this company is 100/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for PAA, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.