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The expected earnings increase and the strategic sale suggest positive momentum for PAA’s stock. Historically, strong earnings projections can lead to price surges, similar to previous earnings reports.
What happened, with direct paths to the underlying reporting
PAA expects Q2 earnings of 33 cents per share, up from 31 cents. Projected Q2 revenue at $12.86 billion, slightly down from $12.93 billion. PAA sold NGL business to Keyera for $3.75 billion on June 17. Analysts have mixed ratings with varied price target adjustments for PAA. Shares of PAA increased by 0.1% to close at $17.87.
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