Plains All American Raises FY'26 EBITDA Guidance as Fee-Based Income Stabilizes

Key Facts

1Plains All American raised the midpoint of its FY'26 EBITDA guidance to $2.88 billion.

2Permian pipeline volumes were flat or down in most segments, reflecting upstream producer discipline.

Reflecting the midstream sector's shift toward fee-based revenue, Plains All American (PAGP) raised the midpoint of its FY'26 EBITDA guidance to $2.88 billion, according to analyst reports. The upward revision came despite flat-to-lower Permian Basin pipeline volumes in most segments, a sign of upstream producer discipline.

PAGP shares closed at $24.10 on June 29, 2026, per market data, as U.S. GDP grew 2.1% in Q1 2026. U.S. crude oil inventories fell by 6.088 million barrels in the latest EIA weekly report, exceeding forecasts and supporting crude demand fundamentals.

Investors are watching oil demand data and Fed monetary policy as key catalysts for the stock. PAGP traded between a high of $24.22 and a low of $23.76 in the last session, with the company focusing on expanding fee-based operations to reduce earnings volatility.