Plains All American Continues to Underwhelm With 1Q Miss; Lowers Outlook for 2017
Plains All American reported weak first-quarter results well below consensus and below our Street low estimates. The Partnership generated adjusted EBITDA of $512 million, versus consensus expectations of $553 million and our estimate of $535 million. Once again, management maintained earnings performance in its transportation and facilities segments, with its merchant supply and logistics arm left holding the bag, trying to eke out profitability selling barrels purchased from its other segments...
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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