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ET vs PAA
Which Stock Would AI Choose? Energy Transfer (ET) vs. Plains All American Pipeline (PAA) Stock Comparison
Key Takeaways
- Both ET and PAA operate as midstream energy partnerships focused on crude oil, natural gas liquids (NGL), and related infrastructure.
- In recent weeks, ET reported strong Q1 2026 Adjusted EBITDA growth and raised full-year guidance while announcing its 19th consecutive distribution increase.
- PAA also lifted 2026 guidance after solid Q1 results and maintained its distribution, with the unit price reaching new 52-week highs amid robust year-to-date returns.
- Market sentiment for both remains constructive, supported by volume growth and energy market conditions, though ET offers greater scale with a larger market capitalization.
- Relative performance shows PAA delivering stronger year-to-date gains, while ET benefits from broader operational diversity and export exposure.
- Key risk factors for the pair include commodity price volatility, regulatory developments, and leverage metrics within the midstream sector.
Introduction
Energy Transfer LP (ET) and Plains All American Pipeline, L.P. (PAA) are two prominent master limited partnerships (MLPs) in the U.S. midstream energy sector. This comparison examines their business models, recent operational results, and stock performance in the current market environment. Institutional investors, income-focused traders, and those seeking exposure to energy infrastructure may find the analysis relevant when evaluating relative positioning, distribution sustainability, and momentum within the pipeline and logistics space.
ET Overview and Recent Performance
Energy Transfer LP (ET) owns and operates one of the largest midstream networks in the United States, transporting natural gas, crude oil, NGL, and refined products. In recent weeks, the partnership reported robust first-quarter 2026 results, including a 20% year-over-year increase in Adjusted EBITDA to $4.94 billion and record NGL terminal and export volumes. Management raised full-year 2026 Adjusted EBITDA guidance and announced the 19th consecutive quarterly distribution increase to $0.34 per unit. The unit price has reflected this operational strength, contributing to solid year-to-date gains amid broader energy sector tailwinds.
PAA Overview and Recent Performance
Plains All American Pipeline, L.P. (PAA) focuses on the transportation, terminalling, storage, and gathering of crude oil and NGL across the United States and Canada. Recent market activity shows the partnership delivering first-quarter 2026 Adjusted EBITDA of $730 million and subsequently raising full-year guidance. Distribution stability was reaffirmed at $0.4175 per unit, while the unit reached new 52-week highs. Year-to-date performance has been notably strong, supported by volume throughput and favorable midstream fundamentals in recent weeks.
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Head-to-Head Comparison
Both ET and PAA generate revenue primarily through fee-based midstream services, reducing direct commodity price exposure compared with upstream producers. ET operates at significantly larger scale, with a broader asset footprint that includes substantial natural gas and export capabilities, while PAA maintains a more concentrated focus on crude oil and NGL logistics. Recent momentum favors PAA in percentage terms on a year-to-date basis, whereas ET has demonstrated consistent distribution growth and guidance upgrades. Risk considerations include leverage ratios, with both partnerships targeting investment-grade or near-investment-grade metrics; ET carries higher absolute debt levels due to its size. Sector sentiment remains supportive for both amid energy demand trends, though PAA’s smaller size may translate to greater relative volatility in certain market regimes.
Tickeron AI Verdict
Based on observable factors such as trend consistency, operational stability, and recent catalysts, Tickeron’s AI models currently assign a modestly higher probability of favorable relative performance to ET. Its larger scale, diversified asset base, and repeated distribution increases provide a broader margin for resilience in varying energy market conditions compared with PAA’s more concentrated profile, although both remain well-positioned within the midstream sector.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is ET is a Buy and PAA is a Buy.
Long-Term Analysis
It is best to consider a long-term outlook for a ticker by using Fundamental Analysis (FA) ratings. The rating of 1 to 100, where 1 is best and 100 is worst, is divided into thirds. The first third (a green rating of 1-33) indicates that the ticker is undervalued; the second third (a grey number between 34 and 66) means that the ticker is valued fairly; and the last third (red number of 67 to 100) reflects that the ticker is undervalued. We use an FA Score to show how many ratings show the ticker to be undervalued (green) or overvalued (red).
ET’s FA Score shows that 2 FA rating(s) are green whilePAA’s FA Score has 2 green FA rating(s).
- ET’s FA Score: 2 green, 3 red.
- PAA’s FA Score: 2 green, 3 red.
Short-Term Analysis
It is best to consider a short-term outlook for a ticker by using Technical Analysis (TA) indicators. We use Odds of Success as the percentage of outcomes which confirm successful trade signals in the past.
If the Odds of Success (the likelihood of the continuation of a trend) for each indicator are greater than 50%, then the generated signal is confirmed. A green percentage from 90% to 51% indicates that the ticker is in a bullish trend. A red percentage from 90% - 51% indicates that the ticker is in a bearish trend. All grey percentages are below 50% and are considered not to confirm the trend signal.
ET’s TA Score shows that 5 TA indicator(s) are bullish while PAA’s TA Score has 5 bullish TA indicator(s).
- ET’s TA Score: 5 bullish, 4 bearish.
- PAA’s TA Score: 5 bullish, 4 bearish.
Price Growth
ET (@Oil & Gas Pipelines) experienced а +2.12% price change this week, while PAA (@Oil & Gas Pipelines) price change was +0.30% for the same time period.
The average weekly price growth across all stocks in the @Oil & Gas Pipelines industry was +3.39%. For the same industry, the average monthly price growth was +0.18%, and the average quarterly price growth was +16.25%.
Reported Earning Dates
ET is expected to report earnings on Nov 04, 2026.
PAA is expected to report earnings on Oct 29, 2026.
Industries' Descriptions
@Oil & Gas Pipelines (+3.39% weekly)Oil & Gas Pipelines industry includes companies that transport natural gas and crude oil through pipelines. These companies also collect and market the fuels. The pipeline segment could be considered as a midstream operation – functioning as a link between the upstream and downstream operations in the oil and gas industry. Some of the largest U.S. pipeline players include Enterprise Products Partners L.P, TC Energy Corporation and Energy Transfer, L.P.
| ET | PAA | ET / PAA | |
| Capitalization | 71.4B | 16.6B | 430% |
| EBITDA | 17.4B | 2.91B | 599% |
| Gain YTD | 32.649 | 36.947 | 88% |
| P/E Ratio | 14.22 | 20.05 | 71% |
| Revenue | 107B | 45.3B | 236% |
| Total Cash | N/A | N/A | - |
| Total Debt | 71.1B | 11.6B | 613% |
ET | PAA | ||
|---|---|---|---|
OUTLOOK RATING 1..100 | 40 | 76 | |
VALUATION overvalued / fair valued / undervalued 1..100 | 7 Undervalued | 5 Undervalued | |
PROFIT vs RISK RATING 1..100 | 9 | 4 | |
SMR RATING 1..100 | 99 | 74 | |
PRICE GROWTH RATING 1..100 | 45 | 45 | |
P/E GROWTH RATING 1..100 | 43 | 81 | |
SEASONALITY SCORE 1..100 | 50 | 50 |
Tickeron ratings are formulated such that a rating of 1 designates the most successful stocks in a given industry, while a rating of 100 points to the least successful stocks for that industry.
PAA's Valuation (5) in the Oil And Gas Pipelines industry is in the same range as ET (7). This means that PAA’s stock grew similarly to ET’s over the last 12 months.
PAA's Profit vs Risk Rating (4) in the Oil And Gas Pipelines industry is in the same range as ET (9). This means that PAA’s stock grew similarly to ET’s over the last 12 months.
PAA's SMR Rating (74) in the Oil And Gas Pipelines industry is in the same range as ET (99). This means that PAA’s stock grew similarly to ET’s over the last 12 months.
PAA's Price Growth Rating (45) in the Oil And Gas Pipelines industry is in the same range as ET (45). This means that PAA’s stock grew similarly to ET’s over the last 12 months.
ET's P/E Growth Rating (43) in the Oil And Gas Pipelines industry is somewhat better than the same rating for PAA (81). This means that ET’s stock grew somewhat faster than PAA’s over the last 12 months.
| ET | PAA | |
|---|---|---|
| RSI ODDS (%) | 2 days ago 50% | 2 days ago 55% |
| Stochastic ODDS (%) | 2 days ago 34% | 2 days ago 64% |
| Momentum ODDS (%) | 2 days ago 63% | 2 days ago 58% |
| MACD ODDS (%) | 2 days ago 46% | 2 days ago 60% |
| TrendWeek ODDS (%) | 2 days ago 54% | 2 days ago 66% |
| TrendMonth ODDS (%) | 2 days ago 53% | 2 days ago 64% |
| Advances ODDS (%) | 2 days ago 53% | 16 days ago 67% |
| Declines ODDS (%) | 18 days ago 40% | 9 days ago 49% |
| BollingerBands ODDS (%) | 2 days ago 31% | 2 days ago 81% |
| Aroon ODDS (%) | 2 days ago 54% | 2 days ago 66% |
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PAA and
Correlation & Price change
A.I.dvisor indicates that over the last year, PAA has been closely correlated with PAGP. These tickers have moved in lockstep 97% of the time. This A.I.-generated data suggests there is a high statistical probability that if PAA jumps, then PAGP could also see price increases.
| Ticker / NAME | Correlation To PAA | 1D Price Change % | ||
|---|---|---|---|---|
| PAA | 100% | +0.39% | ||
| PAGP - PAA | 97% Closely correlated | +0.16% | ||
| AM - PAA | 77% Closely correlated | +0.63% | ||
| WES - PAA | 54% Loosely correlated | +0.10% | ||
| TRGP - PAA | 54% Loosely correlated | +1.21% | ||
| ET - PAA | 51% Loosely correlated | +0.82% | ||
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