Plains All American Pipeline, L.P. $PAA reported a strong second quarter for 2026, with revenue rising to $17.7 billion, up 66.3% from a year earlier and well above expectations. Net income attributable to common shareholders climbed to $1.8 billion, while diluted earnings per share reached $2.51.
The company also posted improved profitability across the income statement. Gross profit increased to $1.1 billion, and operating profit came in at $398 million, both reflecting solid year-over-year growth. Cost of sales rose to $16.6 billion as the business handled a much larger revenue base.
On the cash flow side, Plains All American Pipeline generated $955 million in cash from operating activities during the quarter. Capital spending remained modest at $130 million for property, plant and equipment purchases.
Key balance sheet figures included $171 million in cash and cash equivalents and $14.9 billion in total liabilities.
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
Plains All American Pipeline, L.P. Insider Trading Activity
Plains All American Pipeline, L.P. insiders have traded $PAA stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $PAA stock by insiders over the last 6 months:
- LAWRENCE MICHAEL ZIEMBA sold 2,346 shares for an estimated $51,494
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
Plains All American Pipeline, L.P. Hedge Fund Activity
We have seen 165 institutional investors add shares of Plains All American Pipeline, L.P. stock to their portfolio, and 121 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ALPS ADVISORS INC removed 5,540,736 shares (-7.3%) from their portfolio in Q2 2026, for an estimated $123,336,783
- GOLDMAN SACHS GROUP INC removed 3,509,165 shares (-17.5%) from their portfolio in Q1 2026, for an estimated $78,359,654
- BROOKFIELD CORP /ON/ added 2,992,549 shares (+428.2%) to their portfolio in Q1 2026, for an estimated $66,823,619
- PATHSTONE HOLDINGS, LLC removed 1,882,515 shares (-86.2%) from their portfolio in Q1 2026, for an estimated $42,036,559
- BNP PARIBAS FINANCIAL MARKETS added 1,650,265 shares (+97.9%) to their portfolio in Q1 2026, for an estimated $36,850,417
- MORGAN STANLEY added 1,519,790 shares (+15.4%) to their portfolio in Q1 2026, for an estimated $33,936,910
- WESTWOOD HOLDINGS GROUP INC added 1,470,707 shares (+2178.2%) to their portfolio in Q1 2026, for an estimated $32,840,887
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Plains All American Pipeline, L.P. Price Targets
Multiple analysts have issued price targets for $PAA recently. We have seen 10 analysts offer price targets for $PAA in the last 6 months, with a median target of $23.5.
Here are some recent targets:
- Gabriel Moreen from Mizuho set a target price of $27.0 on 06/08/2026
- John Mackay from Goldman Sachs set a target price of $24.0 on 06/04/2026
- Robert Kad from Morgan Stanley set a target price of $25.0 on 05/20/2026
- Spiro Dounis from Citigroup set a target price of $22.0 on 05/14/2026
- Michael Blum from Wells Fargo set a target price of $23.0 on 05/12/2026
- Brandon Bingham from Scotiabank set a target price of $24.0 on 05/12/2026
- Theresa Chen from Barclays set a target price of $21.0 on 04/10/2026
