|Bid||19.32 x 18000|
|Ask||19.76 x 18000|
|Day's Range||19.53 - 19.62|
|52 Week Range||17.21 - 22.26|
|Beta (3Y Monthly)||0.60|
|PE Ratio (TTM)||5.01|
|Forward Dividend & Yield||1.29 (6.51%)|
|1y Target Est||N/A|
With a yield nearing 7% thanks to a recent sell-off and improving growth prospects, Plains All American Pipeline is looking like a long-term winner.
* Plains' 670,000 barrel-per-day (bpd) Cactus II pipeline began commercial deliveries earlier this month, sending WTI Midland prices at Plains' terminal as much as 50 cents per barrel above those at Enterprise's terminal, market sources said this week. * The disconnect in prices prompted Argus Media to propose a change to its WTI Midland pricing methodology to exclusively reflect prices at Enterprise's terminal.
WTI Midland crude prices at Plains All American Pipeline LP's Midland terminal spiked this month compared with barrels traded at Enterprise Products Partners LP's Midland terminal as Plains' Cactus II pipeline began service, oil traders familiar with the matter said. The 670,000 barrel-per-day (bpd) Cactus II pipeline began commercial deliveries earlier this month, sending WTI Midland prices at Plains terminal as much as 50 cents per barrel above those at Enterprise's terminal, they said. Price reporting agency Argus Media said on Monday it would change the way it assesses WTI Midland to exclusively reflect prices at Enterprise's terminal "to more closely align its assessment" with customer expectations and most spot trades.
Two U.S. shale producers have challenged an energy pipeline operator's proposed surcharge for the Trump administration's 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs. The United States imposed tariffs on imported steel and aluminium last year to shield U.S. producers from overseas competition. U.S. energy industry trade groups have warned the tariffs could raise costs for companies and consumers.
The operators of two new pipelines in West Texas shale fields are offering discounted prices to attract shippers accustomed to high fees to move oil to export hubs, according to the pipeline companies and federal filings. "We see the Permian as over-piped," said Matthew Blair, an analyst at Tudor Pickering.
U.S. pipeline operator Plains All American Pipeline LP expects to begin partial service on its 670,000-barrel-per-day (bpd) Cactus II pipeline next week, Chief Executive Willie Chiang said on Tuesday. Houston-based Plains has filled about half the crude line, which runs from the Permian Basin in West Texas to the U.S. Gulf Coast. It plans to start full operation by the first quarter of 2020, Chiang told investors on a conference call.
U.S. West Texas Intermediate (WTI) crude in Midland traded in positive territory for the first time in more than a month on Monday on expectations a new pipeline from the nearby Permian basin will begin operation soon, traders said. WTI Midland for September traded as strong as 15 cents per barrel above benchmark futures, the strongest level since late June. Plains All American Pipeline LP set rates for its 670,000-barrel-per-day (bpd) Cactus II pipeline from the Permian basin to the Corpus Christi area on Friday, effective the same day, triggering expectations among market participants the line will begin service soon.
Plains All American Pipeline is the latest midstream company working on a solution to improve the flow of oil from northern production basins.