2024-04-30 03:54:55 ET
Summary
- Returning capital to unitholders is Plains GP Holdings' priority.
- Recent distribution increases and buybacks validate this prerogative.
- Hovering around 6%, PAGP's distribution is backed by ample cash flow.
- PAGP's 1099 distribution has consistently been in the form of ROC, enabling tax deferral if held in a taxable account.
- The Permian Basin's resources should reward PAGP's past investment to solidify and expand its pipeline and terminal system.
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Plains GP Holdings' Reinvigorated 1099 Distribution Is Backed By Ample Cash Flow