Últimas noticias sobre Plains All American (NASDAQ:PAA) Bolsa

Plains All American

Plains All American provides transportation, storage, processing, fractionation, and marketing services for crude oil, refined products, natural gas liquids, liquefied petroleum gas, and related products. Plains' assets span the United States and Alberta, Canada, but are heavily concentrated in the Permian Basin.

Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests

Plains All American Pipeline LP

PGIM ETF Trust PGIM AAA CLO ETF

NEURIZON THERAPEUTICS LTD by NEURIZON THERAPEUTICS LTD.

Neurizon Therapeutics Ltd

PAN AMERN ENERGY CORP NEW by Pan American Energy Corp.

PAN AMERN ENERGY CORP by Pan American Energy Corp.

Pan American Energy Corp

Plains All American Pipeline LP RF PERPETUAL USD - Ser A 2023

Pan American Silver Corp

RBC Capital analyst Elvira Scotto reiterates Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) with a Sector Perform and maintains $19 price target.

News

Price Target

Reiteration

Analyst Ratings

RBC Capital Reiterates Sector Perform on Plains All American, Maintains $19 Price Target

Plains All American Pipeline, L.P. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) reported third-quarter revenue growth of 5.6% year-over-year to $12.743 billion, <a href="https://www.benzinga.com/pressreleases/24/11/g41841233/plains-all-american-reports-third-quarter-2024-results">missing the consensus of $13.087 billion.</a>
Adjusted EPS was 37 cents, up from 35 cents a year ago, beating the consensus of 31 cents.
The company reported an operating income of $347 million, compared to $234 million a year ago. The margin expanded by 80 bps to 2.7%.
The adjusted EBITDA attributable to PAA remained relatively flat on year at $659 million.
The Crude Oil Segment Adjusted EBITDA rose 4% YoY to $577 million on higher tariff volumes, escalations, and acquisitions despite fewer market opportunities. NGL segment Adjusted EBITDA fell 26% YoY to $73 million due to lower frac spreads.
The company ended the quarter with a 3.0x leverage ratio, beating the target range of 3.25x to 3.75x. PAA&#8217;s operating cash for the nine months ended September 2024 was $1.763 billion compared to $1.716 billion. Adjusted free cash flow was $882 million.
2024 Outlook: Full-year Adjusted EBITDA for 2024 is projected at the <a href="https://www.benzinga.com/calendars/guidance">high end of the $2.725 &#8211; $2.775 billion range.</a>
The company expects Adjusted Free Cash Flow to reach around $1.45 billion (down from the prior view of $1.55 billion), excluding asset/liability changes but including acquisition costs and legal settlements.
&#8220;We delivered solid operational and financial results in the third quarter and we continue to make progress on our efficient growth strategy, which includes generating multi-year Free Cash Flow, maintaining capital discipline and returning capital to our investors while preserving financial flexibility,&#8221; said Willie Chiang, Chairman and CEO of Plains.
&#8220;Our company is well positioned, and we have grown increasingly confident in both the durability and cash generating potential of the asset base. The improved outlook for the year provides more confidence in our long-term return of capital framework, which should continue creating value for our unitholders.&#8221;
Price Action: PAA shares are trading lower by 2.76% at $17.29 at the last check Friday.

Earnings

Equities

Guidance

Plains All American Pipeline Q3 Earnings: Revenue Miss, EPS Beat, Revised Annual Outlook & More

Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) reported quarterly earnings of $0.37 per share which beat the analyst consensus estimate of $0.31 by 19.35 percent. This is a 5.71 percent increase over earnings of $0.35 per share from the same period last year. The company reported quarterly sales of $12.743 billion which missed the analyst consensus estimate of $13.087 billion by 2.63 percent. This is a 5.57 percent increase over sales of $12.071 billion the same period last year.

Earnings Beats

Earnings Misses

Plains All American Q3 2024 Adj. EPS $0.37 Beats $0.31 Estimate, Sales $12.743B Miss $13.087B Estimate

Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) is gearing up to announce its quarterly earnings on Friday, 2024-11-08. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Plains All American will report an earnings per share (EPS) of $0.30.
Anticipation surrounds Plains All American's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Historical Earnings Performance</h3>
The company's EPS missed by $0.00 in the last quarter, leading to a 0.0% drop in the share price on the following day.
Here's a look at Plains All American's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.31</td>
<td>0.38</td>
<td>0.36</td>
<td>0.26</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.31</td>
<td>0.41</td>
<td>0.42</td>
<td>0.35</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.0%</td>
<td>2.0%</td>
<td>0.0%</td>
<td>-0.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730988245_0.png" alt="eps graph" />
<h3>Plains All American Share Price Analysis</h3>
Shares of Plains All American were trading at $17.43 as of November 05. Over the last 52-week period, shares are up 14.3%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<a href="https://www.benzinga.com/quote/PAA/earnings">To track all earnings releases for Plains All American visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Uncovering Potential: Plains All American's Earnings Preview

WIIM

ACDC

AESI

ARCH

AROC

CIVI

CTRA

DINO

GPOR

HNRG

INVX

KNTK

LBRT

MTDR

PARR

PTEN

SDRL

TALO

TRGP

USAC

WFRD

Shares of oil and fossil fuel companies are trading higher following the US presidential election. Investors may be weighing the potential impact of Donald Trump's energy policies on the sector.

Morgan Stanley analyst Robert Kad downgrades Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) from Overweight to Equal-Weight and lowers the price target from $22 to $19.

Downgrades

Morgan Stanley Downgrades Plains All American to Equal-Weight, Lowers Price Target to $19

Looking into the current session, Plains All American Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) shares are trading at $17.05, after a 0.35% decrease. Over the past month, the stock decreased by 5.40%, but over the past year, it actually went up by 10.29%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1729625455_0.png" alt="Past Year Chart" />

<h3>A Look at Plains All American P/E Relative to Its Competitors</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of the 16.37 in the Oil, Gas &amp; Consumable Fuels industry, Plains All American Inc. has a lower P/E ratio of 15.41. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1729625455_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Markets

P/E Ratio Insights for Plains All American

EQNR

FANG

SHEL

VIST

VNOM

VTNR

Shares of oil gas companies are trading lower amid reports suggesting Saudi Arabia may raise output.

Plains All American's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NYSE">PAA</a>) short percent of float has risen 5.99% since its last report. The company recently reported that it has 10.65 million shares sold short, which is 2.3% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.76 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Plains All American Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726590622_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Plains All American has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Plains All American's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Plains All American's peer group average for short interest as a percentage of float is 4.20%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

How Is The Market Feeling About Plains All American?

Ratings for Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) were provided by 4 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Plains All American, presenting an average target of $20.0, a high estimate of $22.00, and a low estimate of $19.00. Marking an increase of 2.56%, the current average surpasses the previous average price target of $19.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1725462051_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
A comprehensive examination of how financial experts perceive Plains All American is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$19.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Elvira Scotto</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$19.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Shneur Gershuni</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$22.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Robert Kad</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$20.00</td>
<td>$19.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Plains All American. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Plains All American compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Plains All American's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into Plains All American's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/PAA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Plains All American analyst ratings.</a>
<h2>About Plains All American</h2>
Plains All American provides transportation, storage, processing, fractionation, and marketing services for crude oil, refined products, natural gas liquids, liquefied petroleum gas, and related products. Plains' assets span the United States and Alberta, Canada, but are heavily concentrated in the Permian Basin.
<h3>Plains All American's Financial Performance</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Plains All American displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 11.47%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Plains All American's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 1.39%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Plains All American's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 1.75%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Plains All American's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.66%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Plains All American's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.8.
<h2>Analyst Ratings: Simplified</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 4 Takes On Plains All American

BANL

BWLP

GPRE

HAFN

PFIE

TRMD

Shares of oil and gas companies are trading lower following reports suggesting an impending deal will restart Libyan oil production and exports.

Units of Energy Transfer LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/et#NYSE">ET</a>) have rallied 21.8% year to date compared with its industry&#39;s growth of 20.8%. The oil and gas midstream firm owns a wide network of pipelines across the United States and is pursuing opportunities to serve growing power loads from new demand centers across its network.
The firm is also a top exporter of liquefied petroleum gas and is working to expand natural gas liquids export facilities to cater to the rising demand for NGL globally.
The ET stock has also outperformed its sector and the S&amp;P 500 in the year-to-date period.
<h2>Price Performance YTD</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/7d/75798.jpg?v=1372600074" style="height:301px; width:600px" />
Image Source: Zacks Investment Research
<h2>Factors Acting as Tailwinds for ET Stock</h2>
Energy Transfer owns more than 130,000 miles of pipelines across the United States and is expanding its operation through organic initiatives and strategic acquisitions. ET&#39;s operations are spread across 44 states. The firm has been making one large accretive acquisition each year since 2021. The WTG acquisition closed earlier this year expanded ET&#39;s natural gas pipeline and processing network in the Permian Basin.
Energy Transfer has a well-balanced asset mix that provides strong earnings support. ET&#39;s oil and gas pipelines, gathering and processing, and storage assets are spread in major U.S. basins and growing demand markets. The firm will invest $3-3.2 billion in 2024 to further expand and strengthen its asset base.
Energy Transfer has a NGL and Crude oil export capacity of more than 1.1 million barrels per day and 1.9 million barrels, respectively. The firm is working to increase its NGL export capabilities through the expansion of Marcus Hook and Nederland export terminals. The company&#39;s market share of worldwide NGL exports remains around 20%.
<h2>Management Ownership in ET Rises</h2>
ET&#39;s management and insiders own a sizeable chunk of its units. Management members and independent board members continue to purchase units of the firm. Energy Transfer insiders bought more than 44 million units worth $468 million since January 2021. The increasing ownership of insiders indicates bright prospects and sustainable growth amid the rising demand in the midstream space.
<h2>ET&#39;s Earnings Estimates Suggest Y/Y Rise</h2>
The Zacks Consensus Estimate for Energy Transfer&#39;s 2024 and 2025 earnings per unit indicates year-over-year growth of 28.4% and 12.6%, respectively.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/60/75799.jpg?v=623562437" style="height:301px; width:600px" />
Image Source: Zacks Investment Research
<h2>ET&#39;s Units are Undervalued</h2>
Energy Transfer units are somewhat inexpensive on a relative basis, with its current trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA) being 10.32 compared with the industry average of 11.62.
Another firm operating in this space, Plains All American Pipeline (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/paa#NASDAQ">PAA</a>), is also trading at a discount on an EV/EBITDA basis compared with its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d2/75800.jpg?v=1521552114" style="height:301px; width:600px" />
Image Source: Zacks Investment Research
<h2>Summing Up</h2>
Entergy Transfer, with more than 130,000 miles of pipeline and related infrastructure in 44 states, is poised well to benefit from the improving oil, natural gas and NGL production volumes in the United States.
This can be a favorable entry point for investors, given the positive movement in earnings estimates and the firm trading at a discount. The increasing insider ownership in the firm also signals sustainable growth.
Those who already own this Zacks Rank #3 (Hold) stock would do well to retain it in their portfolios.
<a href="https://www.zacks.com/stock/news/2328506/energy-transfer-stock-price-increases-21-8-ytd-how-to-play-it-now?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2328506">To read this article on Zacks.com click here.</a>

Large Cap

Penny Stocks

Small Cap

Management

Energy Transfer Stock Price Increases 21.8% YTD: How to Play It Now?

Plains All American's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NYSE">PAA</a>) short percent of float has fallen 20.22% since its last report. The company recently reported that it has 10.03 million shares sold short, which is 2.17% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.91 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Plains All American Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723492816_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Plains All American has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Plains All American's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Plains All American's peer group average for short interest as a percentage of float is 3.83%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(PAA) - Analyzing Plains All American's Short Interest

Ormat Technologies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ora#NYSE">ORA</a>) reported second-quarter 2024 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line was on par with the year-ago quarter&#39;s reported actuals.
The adjusted earnings benefited from higher revenues and improved margins, offset by higher interest expenses.
The company reported GAAP earnings of 37 cents per share compared with 40 cents in the year-ago quarter.
The year-over-year deterioration can be attributed to after-tax write-offs related to the decommissioning of OREG 4, the Recovered Energy Generation facility and an unsuccessful exploration activity.
<div class="chart_embed">
<h3>Ormat Technologies, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Ormat Technologies, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/e4/1723026768.png" style="height:305px; width:625px" title="" />
Ormat Technologies, Inc. price-consensus-eps-surprise-chart | Ormat Technologies, Inc. Quote
</div>
<h3>Revenues</h3>
ORA generated revenues of $213 million, which beat the Zacks Consensus Estimate by 0.9%. The top line also rose 9.3% year over year, driven by higher revenues from all three of its segments.
<h3>Segmental Revenues</h3>
Electricity: Revenues in this segment amounted to $166.2 million, up 7% year over year. This upside was primarily driven by revenue contributions from its newly acquired Enel assets, a step up in operating performance and power generation at Puna, and the resumption of Heber 1 operations.
Product: This segment&#39;s revenues improved a solid 13.1% to reach $37.8 million from the year-ago quarter&#39;s level. The improvement can be attributed to a higher backlog, enhanced revenue recognition and increased profitability from ORA&#39;s contracts.
Energy: Revenues in this division amounted to $8.9 million, up 48.1% from the prior-year quarter&#39;s figure. This was driven by improved prices from the company&#39;s Pomona 2 tolling agreement, combined with higher merchant prices.
<h3>Operational Update</h3>
Ormat&#39;s total operating expenses were $26.3 million, which increased 3.9% from the year-ago quarter&#39;s level.
The operating income rose 45% year over year to $35.1 million.
The total cost of revenues was $151.6 million, up 4.3% year over year.
Net interest expenses were $33.7 million, up 38.2% year over year.
<h3>Financial Condition</h3>
ORA had cash and cash equivalents of $66.3 million as of Jun 30, 2024, compared with $195.8 million as of Dec 31, 2023.
<h3>2024 Guidance</h3>
The company updated its guidance for 2024. It now expects to generate revenues in the range of $875-$910 million, narrower than the prior guidance of $860-$910 million. The Zacks Consensus Estimate for revenues is pegged at $881.9 million, lower than the mid-point of the newly guided range.
Revenues for the Electricity segment are now anticipated to be in the band of $710-$720 million compared with the prior expectation of $710-$730 million. Product segment revenues are now expected to be in the range of $130-$145 million compared with the earlier projection of $115-$135 million. ORA continues to expect revenues from the Energy Storage segment between $35 million and $45 million.
The annual adjusted EBITDA is projected to be in the band of $520-$550 million, up from the prior guidance of $515-$545 million.
<h3>Zacks Rank</h3>
Ormat currently carries a Zacks Rank #3 (Hold).
<h3>Recent Sector Releases</h3>
Enphase Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enph#NASDAQ">ENPH</a>) reported second-quarter 2024 adjusted earnings of 43 cents per share, highlighting a 70.7% decline from $1.47 reported in the prior-year quarter. The bottom line also lagged the Zacks Consensus Estimate of 49 cents by 12.2%.
Enphase Energy&#39;s second-quarter revenues of $303.5 million missed the Zacks Consensus Estimate of $314 million by 1.8%. The top line also declined 57.3% from the prior-year quarter&#39;s reported figure of $711.1 million.
Plains All American Pipeline, L.P. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/paa#NASDAQ">PAA</a>) reported second-quarter 2024 adjusted earnings of 31 cents per unit, which missed the Zacks Consensus Estimate of 33 cents by 6.1%. However, the bottom line improved 24% from 25 cents in the year-ago quarter.
Net sales of $12.93 billion beat the Zacks Consensus Estimate of $12.91 billion by 0.2%. The top line also increased 11.5% from the year-ago quarter&#39;s figure of $11.6 billion.
NextEra Energy Partners, LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nep#NYSE">NEP</a>) recorded second-quarter 2024 operating earnings of 66 cents per unit, which missed the Zacks Consensus Estimate of 70 cents by 5.7%.
The Zacks Consensus Estimate for 2024 earnings is pegged at $1.81 per share, which implies a year-over-year increase of 432.4%. The Zacks Consensus Estimate for sales is pegged at $1.25 billion.
<a href="https://www.zacks.com/stock/news/2318211/ormat-ora-q2-earnings-beat-estimates-revenues-rise-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2318211">To read this article on Zacks.com click here.</a>

Mid Cap

Tech

ENPH

Ormat Q2 Earnings Beat Estimates, Revenues Rise Y/Y

CEIX

CRGY

DWSN

EZFL

LODE

RCON

REPX

TOPS

Shares of oil and gas companies are trading lower. The sector might be moving amid overall market weakness due to economic slowdown concerns following recent US data, which could negatively impact demand.

2024 Guidance Update
<ul>
<li>Raising the mid-point of guidance for full-year 2024 Adjusted EBITDA attributable to PAA by $75 million to a new range of $2.725 - $2.775 billion

	&nbsp;</li>
<li>Reiterating full-year 2024 Adjusted Free Cash Flow guidance of $1.55 billion (excluding changes in Assets &amp; Liabilities; including bolt-on acquisition capital)</li>
</ul>

Plains All American Pipeline Raises FY24 Adjusted EBITDA Outlook By $75M To $2.725B-$2.775B

Plains All American (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NASDAQ">PAA</a>) reported quarterly earnings of $0.31 per share which met the analyst consensus estimate. This is a 24 percent increase over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $12.930 billion which beat the analyst consensus estimate of $12.836 billion by 0.73 percent. This is a 11.45 percent increase over sales of $11.602 billion the same period last year.

Plains All American Q2 2024 Adj. EPS $0.31, Inline, Sales $12.930B Beat $12.836B Estimate

Plains All American's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAA#NYSE">PAA</a>) short percent of float has risen 5.02% since its last report. The company recently reported that it has 12.57 million shares sold short, which is 2.72% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.31 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Plains All American Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721926822_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Plains All American has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Plains All American's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Plains All American's peer group average for short interest as a percentage of float is 3.95%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

The outlook for oil demand growth appears promising despite economic uncertainties and worldwide supply deficit. Amid this, investing in quality oil stocks Enterprise Products Partners (EPD), Marathon Oil (MRO), and Plains All American Pipeline (PAA) could be ideal as global demand rebounds. Read more... Amid the concerning market conditions caused by the Middle East tensions, crude oil prices are projected to hike strongly in the coming period. This is due to the current supply deficit and increasing withdrawals from oil inventories, pushing prices to record levels and causing high volatility and uncertainties.
Given the industry tailwinds, it could be wise to buy fundamentally solid oil stocks Enterprise Products Partners L.P. (<a href="https://stocknews.com/stock/EPD/">EPD</a>), Marathon Oil Corporation (<a href="https://stocknews.com/stock/MRO/">MRO</a>), and Plains All American Pipeline, L.P. (<a href="https://stocknews.com/stock/PAA/">PAA</a>) with high upside potential.
The Organization of Petroleum Exporting Countries (OPEC) maintained its bullish view on global oil demand growth in its recent <a href="https://www.cnbc.com/2024/09/24/opec-is-bullish-on-long-term-oil-demand-growth-not-everyone-agrees.html">World Oil Outlook for 2024</a>, forecasting robust growth as far ahead as 2050. The oil producer group predicted strong energy demand growth of 24% globally between 2024 and 2050.
The organization also forecasted robust medium-term growth in oil demand, totaling over 112.3 million barrels per day in 2029, indicating an increase of 10.1 million barrels per day as compared to 2023.
This indication was further supported by predictions from the <a href="https://www.reuters.com/business/energy/us-eia-lifts-oil-demand-forecast-says-prices-will-recover-above-80bbl-2024-09-10/">U.S. Energy Information Administration (EIA)</a> on global oil demand. According to EIA, demand will expand at a higher pace, reaching new record levels this year. The ongoing supply restraints will result in increased withdrawals of oil from global stockpiles, likely to further Brent crude prices back above $80 a barrel.
Besides, concerns over declines in oil inventories and OPEC+ members' decision to delay production increases until December 2024 are majorly affecting the market. The <a href="https://www.eia.gov/outlooks/steo/report/global_oil.php">Brent spot price increased to $79/b on October 4</a>, reflecting a surge of 11% from a week earlier.
Given the industry's bright prospects, investing in fundamentally strong energy stocks EPD, MRO, and PAA could be wise.
Let's discuss the fundamentals of these stocks in detail:
Enterprise Products Partners L.P. (<a href="https://stocknews.com/stock/EPD/">EPD</a>)
EPD provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines &amp; Services; Crude Oil Pipelines &amp; Services; Natural Gas Pipelines &amp; Services; and Petrochemical &amp; Refined Products Services.
On October 29, EPD announced the completion of the second phase of its Texas Western Products system. Located in Grand County, Utah, the facility is a refined products truck terminal serving the Grand Junction, Colorado, and Moab, Utah, areas. It has a storage capacity of 400,000 barrels for gasoline and diesel and can load trucks at a rate of up to 20,000 bpd.
On October 28, EPD completed its previously announced acquisition of Piñon Midstream, LLC. EPD purchased Piñon Midstream for $950 million in cash consideration as part of a debt-free transaction.
The assets acquired under the transaction, including natural gas gathering and treating services, will expand EPD's footprint in the eastern flank of the prolific Delaware Basin of Texas and New Mexico.
During the third quarter of 2024, which ended on September 30, 2024, EPD's total revenues increased 14.8% year-over-year to $13.78 billion. Its operating income rose 5% year-over-year to $1.78 billion. The company's net income attributable to common unitholders amounted to $1.42 billion or $0.65 per unit, up 7.5% and 8.3% from the prior year's quarter, respectively.
Furthermore, the company's adjusted <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> rose 4.9% from the year-ago value to $2.44 billion.
The consensus revenue estimate of $14.85 billion for the first quarter (ending March 2025) represents a 0.6% increase year-over-year. The consensus EPS estimate of $0.70 for the same quarter indicates a 3.8% improvement year-over-year. Moreover, the company surpassed the consensus revenue estimates in three of the trailing four quarters.
EPD's stock has gained 1.9% over the past six months and 10.2% over the past year to close the last trading session at $29.14. Wall Street analysts expect the stock to hit $34 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/epd/forecast">upside of 16.80%</a>.
EPD's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, which equates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
EPD has a B grade for Growth, Value, Momentum, and Stability. It is ranked #6 out of 23 stocks in the A-rated <a href="https://stocknews.com/category/oil-gas-mlps/">MLPs – Oil &amp; Gas</a> industry.
In addition to the POWR Ratings we've stated above, we also have EPD ratings for Sentiment and Quality. Get all EPD ratings <a href="https://stocknews.com/stock/EPD/">here</a>.
Marathon Oil Corporation (<a href="https://stocknews.com/stock/MRO/">MRO</a>)
MRO is an independent exploration and production company that engages in international exploration, production, and marketing of crude oil and condensate, natural gas liquids, and natural gas. It also produces and markets products manufactured from natural gas, like liquefied natural gas and methanol.
On August 29, MRO received the necessary stockholder approval for its pending merger with ConocoPhillips (<a href="https://stocknews.com/stock/COP/">COP</a>). The companies will continue the transaction to close late in the fourth quarter of 2024.
On July 31, MRO's Board of Directors declared a dividend of $0.11 per share on the company's common stock. The dividend was paid on September 10, 2024, to stockholders of record on August 21, 2024.
MRO's annual dividend of $0.44 translates to a yield of 1.69% at the current share price. Its four-year average dividend yield is 1.25%. And the company's dividend payouts have increased at a CAGR of 43.2% over the past three years.
During the second quarter that ended June 30, 2024, MRO's total revenues and other income increased 12.8% year-over-year to $1.71 billion. Its income from operations grew 15.2% from the year-ago value to $523 million. The company's adjusted net income came in at $357 million and $0.63 per share, up 21% and 31.2% from the prior year's quarter, respectively.
Also, the company's adjusted free cash flow was $364 million for the period.
Analysts expect MRO's revenue and EPS for the first quarter (ending March 2025) to grow 5% and 2.7% year-over-year to $1.63 billion and $0.56, respectively. Also, the company topped the consensus EPS estimates in three of the four trailing quarters.
Shares of MRO have plunged 6.6% over the past six months to close the last trading session at $16.93. Wall Street analysts expect the stock to hit $30.54 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/mro/forecast">upside of 17.69%</a>.
MRO's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has a B grade for Quality. Within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry, MRO is ranked #21 on the list of 81 stocks.
<a href="https://stocknews.com/stock/MRO/">Click here</a> to access additional ratings of MRO for Sentiment, Growth, Value, Momentum, and Stability.
Plains All American Pipeline, L.P. (<a href="https://stocknews.com/stock/PAA/">PAA</a>)
PAA engages in the pipeline transportation, terminaling, storage, and gathering crude oil and natural gas liquids (NGL). The company operates through two segments: Crude Oil and NGL.
On October 2, PAA and Plains GP Holdings (<a href="https://stocknews.com/stock/PAGP/">PAGP</a>) announced their quarterly distributions for the third quarter of 2024 in the following manner: PAA Common Units – $0.32 per unit, PAGP class A shares – $0.32 per share, PAA series A preferred units – $0.61 per unit, and PAA series B preferred units - $24.25 per unit.
PAA pays an annual distribution of $1.27, which translates to a yield of 7.58% at the current share price. Its four-year average dividend yield is 7.26%. Moreover, the company's dividend payouts have increased at a CAGR of 19.2% over the past three years.
PAA's revenues increased 11.5% year-over-year to $12.93 billion for the second quarter that ended June 30, 2024. Adjusted net income attributable to PAA was $288 million, or $0.31 per common unit, indicating increases of 18.5% and 24% from the prior year's quarter, respectively.
In addition, the company's adjusted EBITDA rose 15.3% year-over-year to $807 million.
Analysts expect PAA's revenue for the third quarter (ended September 2024) to increase 8.3% year-over-year to $13.07 billion. The company's revenue for the fiscal year 2024 is expected to increase 6.1% year-over-year to $51.70 billion. Furthermore, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
PAA's stock has surged 12.4% over the past year to close the last trading session at $16.76. Wall Street analysts expect the stock to hit $19.14 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/paa/forecast">upside of 15.14%</a>.
PAA's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A grade for Growth. It also has a B grade for Value, Momentum, and Stability. PAA is ranked #5 among 23 stocks in the A-rated MLPs – Oil &amp; Gas industry.
<a href="https://stocknews.com/stock/PAA/">Click here</a> to access PAA's ratings for Sentiment and Quality.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
EPD shares rose $0.07 (+0.24%) in after-hours trading Tuesday. Year-to-date, EPD has gained 16.65%, versus a 23.55% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/epd-mro-paa-pagp-cop-3-oil-stocks-with-high-upside-as-global-demand-rebounds/>3 Oil Stocks With High Upside as Global Demand Rebounds</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Oil Stocks With High Upside as Global Demand Rebounds

Plains All American Pipeline ( ($PAA) ) has released its Q3 earnings. Here is a breakdown of the information Plains All American Pipeline presented...

Plains All American Pipeline Reports Strong Q3 2024 Results

Stifel Nicolaus analyst Selman Akyol maintained a Buy rating on Plains All American (PAA – Research Report) today and set a price target of $23.00....

Stifel Nicolaus Sticks to Their Buy Rating for Plains All American (PAA)

In a report released today, Richard Safran from Seaport Global maintained a Buy rating on Plains All American (PAA – Research Report), with a price...

Seaport Global Sticks to Its Buy Rating for Plains All American (PAA)

Plains All American Pipeline: Risky Fixed Income Play

Plains All American Pipeline: Results Were Okay, Company Should Be A Nice Income Source

Plains All American to pay $72.5M to settle California oil spill lawsuit

Plains All American Pipeline Aims For Fee-Based Growth

RBC Capital analyst Elvira Scotto maintained a Hold rating on Plains All American (PAA – Research Report) yesterday and set a price target of $19.0...

Plains All American (PAA) Receives a Rating Update from a Top Analyst

Energy Transfer Vs. Williams Companies: Only One Is A Buy

AMLP

MPLX

MPLXP

PAAPU

PAGP

Press Releases

Plains All American Reports Fourth-Quarter and Full-Year 2023 Results; Announces 2024 Guidance

Dividends

Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of First-Quarter 2024 Earnings

Plains All American Reports First-Quarter 2024 Results

Financing

Plains All American Announces Pricing of Public Offering of $650 Million of Senior Notes

General

Plains All American's 2023 Schedule K-3 Now Available

Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of Second-Quarter 2024 Earnings

Plains All American Reports Second-Quarter 2024 Results & Raises 2024 Guidance

Plains All American Releases 2023 Sustainability Report

Plains All American Pipeline and Plains GP Holdings Announce Quarterly Distributions and Timing of Third Quarter 2024 Earnings

Plains All American Reports Third-Quarter 2024 Results

Antero Midstream Corporation Common Stock

Antero Midstream

Cheniere Energy Partners, LP Common Units

Cheniere Energy Partners

DT Midstream

EnLink Midstream, LLC Common Units representing Limited Partner Interests

EnLink Midstream

Enterprise Products Partners L.P. Common Stock

Enterprise Prods Partners

Energy Transfer

Frontline

Golar LNG

Hafnia

Hess Midstream

International Seaways

Kinder Morgan

Kinetik Holdings Inc. Class A Common Stock

Kinetik Holdings

Cheniere Energy

MPLX LP Common Units Representing Limited Partner Interests

New Fortress Energy Inc. - Class A Common Stock

New Fortress Energy

ONEOK

Plains GP Holdings, L.P. - Class A Shares representing limited partner interests

Plains GP Holdings

Scorpio Tankers

Transportadora de Gas del Sur SA TGS Common Stock

Transportadora de Gas

Targa Resources

TORM

Ultrapar Participacoes S.A. (New) American Depositary Shares (Each representing one Common Share)

Ultrapar Participacoes

Western Midstream Partners, LP Common Units Representing Limited Partner Interests

Comments

Plains All American

Noticias

Últimas noticias sobre Plains All American (NASDAQ:PAA) Bolsa

La gente también mira

Noticias

SOCIO/CONTRIBUIDOR

BENZINGA GLOBAL