Plains All American: 7% Yield, Strong Distribution Growth, Cheap

Plains All American is a leading crude oil midstream platform, delivering robust Q2'26 results and 10% year-over-year adjusted EBITDA growth. PAA's acquisition of Silver Creek Midstream's Powder River Basin assets for $585 million in cash strengthens its downstream capabilities and supports its acquisition-driven growth strategy. The company's distribution increased ~10% in January 2026, with strong coverage at 1.68x, outpacing MLP peers.