Plains GP Holdings LP Class A
PAGP: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$21.00 | Wgkbs | Kxcjwtkr |
Plains Earnings: Stronger Permian Performance Leads to Modest Uptick in 2023 Outlook
Plains’ second-quarter results were good, as healthy Permian volumes and tariffs led the firm to boost its guidance toward the top end of its outlook, or around $2.55 billion in 2023 EBITDA. The change is modest, and about $50 million above our original expectations. After updating our model, our $14 fair value estimates and no-moat ratings for the Plains entities are unchanged.