PAA Maintained by Citigroup -- Price Target Raised to $25.00

Plains All American Pipeline (PAA) and Plains GP Holdings (PAGP) will acquire Powder River Basin assets from Silver Creek Midstream for $585 million. Latham & Watkins LLP advised on the deal, covering various legal aspects.

Raymond James reiterated a Strong Buy rating on Plains All American Pipeline (PAA) with a $27.00 price target. The stock trades at $25.37, near its 52-week high. The firm cited the company's oil focus and solid growth outlook. PAA reported Q2 2026 earnings beating estimates, with adjusted earnings of $0.41 per unit and revenue of $17.69 billion. The stock declined due to increased capital spending and cautious guidance. Mizuho raised its price target to $30.00, maintaining an Outperform rating.

Mizuho raised its price target for Plains All American Pipeline (PAA) to $30.00, citing recent acquisitions and cost savings. The company reported strong Q2 2026 earnings, exceeding estimates, and raised its 2026 growth capital budget. PAA's stock has gained 49.5% year-to-date, with a 6.6% dividend yield.

Plains All American Pipeline and Plains GP Holdings agreed to buy Silver Creek Midstream's Powder River Basin crude oil assets for $585m. The deal includes 600 miles of pipelines, 1.2m barrels of storage, and a 49% interest in a joint venture. Plains expects to expand its footprint and improve connectivity, with the sale expected to close in Q4 2026.

Plains All American Pipeline (PAA) announced a $585M acquisition in the Powder River Basin, following a similar move by Enbridge (ENB). PAA also completed its takeover of Gateway Pipeline. Liberty Energy (LBRT) CEO criticized California's energy policies, citing increased reliance on foreign fuel.

Tailwater Capital and EMG sold Powder River Basin midstream assets to Plains All American Pipeline for $585 million. The assets include 600 miles of pipelines with 350,000 barrels per day capacity. The deal expands Plains' infrastructure in Wyoming's Powder River Basin.