Plains' Permian Asset Base Should Continue to Drive Fee-Based Income
Plains reported a good fourth quarter, as it benefited from wide differentials in Canada and the Permian Basin, leading to outperformance once again from its supply and logistics (S&L) segment. Its 2019 guidance generally matches our expectations, and as a result, we plan to maintain our $29.50 fair value estimate and wide moat rating. With leverage now at 3.4 times EBITDA, safely within management's targeted range, and distributable cash flow covering distributions by more than 2 times, we ...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.