Decent Dividend with some Upside Potential. <PAA>
Fundamentally sound Co.
Good Net Income growth.
Plains should be able to free cash flow their way to a $1Bil cash position this Year. (Debt Reduction/Lessen Leverage/Share Buyback???)
2.5 mil acres in the Permian.
Long Haul Pipes are contracted out 5 years at 70% utilization.
Dividend is North of 7% ... (One could buy the shares on Juice and prolly have a Positive cost of carry ...)
Technically
I like the cup and handle on the 4 hr. (that's what I Trade...)
Regress to the mean of the Channel. Break through $10 and we might be on to something....
I think you can feel comfortable buying it below 10.
15$ a share is a fair price to Exchange hands. (That's 50% from $10 for those of you keeping score...)
Above that some resistance at 16 and again at 18 handles.
Downside of $4 to recent 5ish Lows and I think you have a 3:1 profit profile at $22 from these levels.
I see the Stock at Pre-Covid Prices in the 20s maybe 25ish over the next 3 Q's.
If it takes 18 mos ... to get to $20 that's a double and the 7% dividend pays me to be Patient...
Good Net Income growth.
Plains should be able to free cash flow their way to a $1Bil cash position this Year. (Debt Reduction/Lessen Leverage/Share Buyback???)
2.5 mil acres in the Permian.
Long Haul Pipes are contracted out 5 years at 70% utilization.
Dividend is North of 7% ... (One could buy the shares on Juice and prolly have a Positive cost of carry ...)
Technically
I like the cup and handle on the 4 hr. (that's what I Trade...)
Regress to the mean of the Channel. Break through $10 and we might be on to something....
I think you can feel comfortable buying it below 10.
15$ a share is a fair price to Exchange hands. (That's 50% from $10 for those of you keeping score...)
Above that some resistance at 16 and again at 18 handles.
Downside of $4 to recent 5ish Lows and I think you have a 3:1 profit profile at $22 from these levels.
I see the Stock at Pre-Covid Prices in the 20s maybe 25ish over the next 3 Q's.
If it takes 18 mos ... to get to $20 that's a double and the 7% dividend pays me to be Patient...