Keyera to buy Plains' Canadian natural gas liquids business for $3.77 billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 17 2025
0mins
Source: Reuters
Keyera Corp Acquisition: Keyera Corp has agreed to purchase Plains' Canadian natural gas liquids business for C$5.15 billion, enhancing its infrastructure across Canada and reducing reliance on U.S. markets amid tariffs imposed by the Trump administration.
Transaction Details: The deal is expected to close in Q1 2026, with Plains reclassifying the NGL assets as discontinued operations while retaining its U.S. assets and incurring approximately $360 million in taxes related to the sale.
Analyst Views on PAA
Wall Street analysts forecast PAA stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PAA is 20.19 USD with a low forecast of 16.50 USD and a high forecast of 23.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Analyst Rating
3 Buy
4 Hold
1 Sell
Hold
Current: 19.140
Low
16.50
Averages
20.19
High
23.00
Current: 19.140
Low
16.50
Averages
20.19
High
23.00
About PAA
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil and natural gas liquids (NGL). It owns a network of pipeline gathering and transportation systems, in addition to terminalling, storage, processing, fractionation and other infrastructure assets serving key producing basins, transportation corridors and major market hubs and export outlets in the United States and Canada. Its Crude Oil segment operations consist of gathering and transporting crude oil using pipelines, gathering systems, trucks and at times on barges or railcars. Its assets provide services to third parties as well as to its merchant activities. Its NGL segment operations involve natural gas processing and NGL fractionation, storage, transportation and terminalling. NGL segment offers merchant activities include the acquisition of extraction rights from producers and/or shippers of the gas streams that pass through its Empress facility.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
