<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2015/06/10/16/35/mark-804936_960_720.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2015/06/10/16/35/mark-804936_960_720.jpg"/></p>
<p><em>圖片來源：Pixabay</em></p>
<p>高收益股票支付的股息顯著高於市場平均水平。例如，標準普爾 500 指數目前的收益率僅約為 1.2%。</p>
<p>高收益股票在退休後補充收入方面尤其有利。投資 12 萬美元於平均股息收益率為 5% 的股票，每月可產生約 <strong>500 美元的股息</strong>。</p>
<p>接下來我們要審查的高股息股票是 Plains GP Holdings, L.P. (PAGP)。</p>
<h3><strong>業務概述</strong></h3>
<p>Plains GP Holdings, L.P.是一家總部位於德克薩斯州休斯頓的領先中游能源公司，專注於原油和天然氣液體（NGLs）的運輸、儲存和營銷。</p>
<p>該公司在北美運營着廣泛的管道和終端網絡，在包括二疊紀盆地在內的關鍵生產區域具有強大的市場存在。Plains 提供關鍵基礎設施，將能源生產者與煉油廠、石化廠和出口設施連接起來，確保能源產品可靠地交付到最終市場。</p>
<p>公司的戰略專注於保持強勁的資產負債表、改善現金流穩定性，並增強對單元持有者的回報。</p>
<p>Plains 通過剝離非核心資產來繼續精簡其運營，例如計劃以 37.5 億美元出售其加拿大 NGL 業務給 Keyera Corp.，同時通過增持 BridgeTex 管道的股份來擴大其原油業務。</p>
<p>憑藉嚴格的資本管理和對運營效率的關注，Plains 旨在在中游能源領域實現穩定的盈利增長和長期價值。</p>
<p>該公司報告 2025 年第二季度淨收入為 2.1 億美元，經營現金流為 6.94 億美元。調整後的 EBITDA 為 6.72 億美元，槓桿率為 3.3 倍，接近公司目標範圍的低端。Plains 將季度分配提高了 20%，儘管市場波動，財務表現依然穩定。</p>
<p>該公司同意以 51.5 億加元（37.5 億美元）出售幾乎所有的加拿大 NGL 業務給 Keyera Corp.，預計交易將在 2026 年初完成。Plains 計劃將約 30 億美元的收益用於收購、優先單位贖回和單位回購。</p>
<p>它還在 BridgeTex 管道中增持了 20% 的股份，將其在二疊紀盆地的市場份額提升至 40%。首席執行官 Willie Chiang 表示，這些舉措增強了財務靈活性，精簡了運營，並支持長期現金回報。</p>
<p>原油業務保持穩定，調整後的 EBITDA 同比增長 1%，得益於更高的交易量和關税。由於定價差距減弱，NGL 的業績下降了 7%。季度收入從去年的 128 億美元降至 106 億美元，主要是由於商品價格下跌。</p>
<p>Plains 在季度末的資產總額為 272 億美元，債務資本比率為 47%，突顯了其穩健的資產負債表和對嚴格增長的持續關注。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-at-5.54.04-PM-768x425.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-at-5.54.04-PM-768x425.png"/></p>
<p>來源：投資者關係</p>
<h3><strong>增長前景</strong></h3>
<p>Plains GP Holdings, L.P.在嚴格的資本配置和加強原油及 NGL 部門的支持下，具備穩定的長期增長潛力。公司通過部門調整後的 EBITDA 評估其業績，強調運營效率和現金流生成。</p>
<p>在 2024 年，Plains 通過與戰略收購和增長計劃相關的股權發行增加了流通股數量，旨在改善財務靈活性並擴大資產基礎。這些投資旨在增強在關鍵區域（如二疊紀盆地）的運輸能力，同時保持對槓桿和股東回報的平衡。</p>
<p>展望未來，儘管在週期性能源環境中運營，Plains 預計將實現持續的盈利增長。分析師預測 2025 年的每股收益（EPS）為 1.27 美元，預計到 2030 年每年 EPS 增長率為 5%，達到約 1.62 美元。</p>
<p>該公司在過去四年中建立了穩健的股息支付記錄，反映了其對回饋股東的承諾。</p>
<p>儘管短期內股息增長可能會放緩，但長期趨勢依然向好，預計到 2030 年每股股息（DPS）約為 1.68 美元，年增長率為 2%。</p>
<p>這些穩定的增長前景，得益於強勁的現金流和戰略資產優化，使 Plains GP Holdings 在不斷變化的能源市場中具備可持續的表現。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-at-5.58.13-PM-768x435.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-at-5.58.13-PM-768x435.png"/></p>
<p>來源：投資者關係</p>
<h3><strong>競爭優勢與經濟衰退表現</strong></h3>
<p>Plains GP Holdings 的競爭優勢源於其龐大的綜合中游網絡以及在關鍵生產區域（如二疊紀盆地）的戰略佈局。</p>
<p>其規模、長期合同和運營效率提供了穩定的現金流、成本優勢和強大的客户關係，支持增長和股東回報。</p>
<p>由於其基於費用的商業模式和必要的基礎設施資產，該公司在經濟衰退期間表現出韌性。</p>
<p>長期合同和強大的流動性幫助維持盈利和分配，即使在波動的市場中，使 Plains 能夠在經濟衰退中保持競爭地位。</p>
<h3><strong>股息分析</strong></h3>
<p>該公司的年股息為每股 1.52 美元。在其最近的股價下，該股票的高收益率為 8.9%。</p>
<p>考慮到公司 2025 年的盈利前景，預計每股收益為 1.27 美元。因此，預計公司將向股東支付約 120% 的每股收益作為股息。</p>
<h3><strong>最終思考</strong></h3>
<p>Plains GP Holdings 運營着重要的原油和天然氣液體基礎設施，隨着能源需求的上升以及上游投資不足，預計將支持每股收益的增長。</p>
<p>然而，由於當前的派息比率，股息增長可能保持温和。我們維持持有評級，反映出基於預計的 5% 每股收益增長、8.9% 的股息收益率和估值壓力，預計中期年總回報為 10%。</p>
<hr/>
<p><em>更多來自此作者：</em></p>
<p>高股息 50：Apple Hospitality REIT Inc.</p>
<p>高股息 50：Atrium Mortgage Investment Corporation</p>
<p>降低風險的 10 只最佳股息股票</p>

PAGP

<p>Plains GP Holdings, L.P. 是一家專注於原油和天然氣液體的中游能源公司。該公司報告了 2025 年第二季度淨收入為 2.1 億美元，並將季度分配同比增加了 20%。它計劃以 37.5 億美元出售其加拿大天然氣液體業務，並將收益用於收購和回購。分析師預測到 2030 年每股收益年增長率為 5%，預計每股股息為 1.68 美元。該股票提供 8.9% 的高收益率，反映了其對回饋股東價值的承諾</p>

<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2015/06/10/16/35/mark-804936_960_720.jpg" alt="" original-src="https://cdn.pixabay.com/photo/2015/06/10/16/35/mark-804936_960_720.jpg"/></p>
<p><em>Image Source: Pixabay</em></p>
<div class="lb-trans"><p><em>圖片來源：Pixabay</em></p>
</div><p>High-yield stocks pay out dividends that are significantly higher than the market average. For example, the S&amp;P 500’s current yield is only ~1.2%.</p>
<div class="lb-trans"><p>高收益股票支付的股息顯著高於市場平均水平。例如，標準普爾 500 指數目前的收益率僅約為 1.2%。</p>
</div><p>High-yield stocks can be particularly beneficial in supplementing income after retirement. A $120,000 investment in stocks with an average dividend yield of 5% creates an average of <strong>$500 a month in dividends</strong>.</p>
<div class="lb-trans"><p>高收益股票在退休後補充收入方面尤其有利。投資 12 萬美元於平均股息收益率為 5% 的股票，每月可產生約 <strong>500 美元的股息</strong>。</p>
</div><p>Next on our list of high-dividend stocks to review is Plains GP Holdings, L.P. (PAGP).</p>
<div class="lb-trans"><p>接下來我們要審查的高股息股票是 Plains GP Holdings, L.P. (PAGP)。</p>
</div><h3><strong>Business Overview</strong></h3>
<div class="lb-trans"><h3><strong>業務概述</strong></h3>
</div><p>Plains GP Holdings, L.P. is a leading midstream energy company based in Houston, Texas, specializing in the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs).</p>
<div class="lb-trans"><p>Plains GP Holdings, L.P.是一家總部位於德克薩斯州休斯頓的領先中游能源公司，專注於原油和天然氣液體（NGLs）的運輸、儲存和營銷。</p>
</div><p>The company operates an extensive network of pipelines and terminals across North America, with a strong presence in key production areas, including the Permian Basin. Plains provides critical infrastructure that connects energy producers to refineries, petrochemical plants, and export facilities, ensuring reliable delivery of energy products to end markets.</p>
<div class="lb-trans"><p>該公司在北美運營着廣泛的管道和終端網絡，在包括二疊紀盆地在內的關鍵生產區域具有強大的市場存在。Plains 提供關鍵基礎設施，將能源生產者與煉油廠、石化廠和出口設施連接起來，確保能源產品可靠地交付到最終市場。</p>
</div><p>The company’s strategy focuses on maintaining a strong balance sheet, improving cash flow stability, and enhancing returns to unitholders.</p>
<div class="lb-trans"><p>公司的戰略專注於保持強勁的資產負債表、改善現金流穩定性，並增強對單元持有者的回報。</p>
</div><p>Plains continues to streamline its operations by divesting non-core assets, such as its planned $3.75 billion USD sale of its Canadian NGL business to Keyera Corp., while expanding its crude oil footprint through bolt-on acquisitions, such as its increased stake in the BridgeTex Pipeline.</p>
<div class="lb-trans"><p>Plains 通過剝離非核心資產來繼續精簡其運營，例如計劃以 37.5 億美元出售其加拿大 NGL 業務給 Keyera Corp.，同時通過增持 BridgeTex 管道的股份來擴大其原油業務。</p>
</div><p>With disciplined capital management and a focus on operational efficiency, Plains aims to generate steady earnings growth and long-term value in the midstream energy sector.</p>
<div class="lb-trans"><p>憑藉嚴格的資本管理和對運營效率的關注，Plains 旨在在中游能源領域實現穩定的盈利增長和長期價值。</p>
</div><p>The company reported second-quarter 2025 net income of $210 million and operating cash flow of $694 million. Adjusted EBITDA was $672 million, and leverage stood at 3.3x, near the low end of the company’s target range. Plains increased its quarterly distribution by 20% year over year and maintained steady financial performance despite a volatile market.</p>
<div class="lb-trans"><p>該公司報告 2025 年第二季度淨收入為 2.1 億美元，經營現金流為 6.94 億美元。調整後的 EBITDA 為 6.72 億美元，槓桿率為 3.3 倍，接近公司目標範圍的低端。Plains 將季度分配提高了 20%，儘管市場波動，財務表現依然穩定。</p>
</div><p>The company agreed to sell nearly all of its Canadian NGL business to Keyera Corp. for $5.15 billion CAD ($3.75 billion USD), with the deal expected to close in early 2026. Plains plans to use the roughly $3 billion in proceeds for acquisitions, preferred unit redemptions, and unit buybacks.</p>
<div class="lb-trans"><p>該公司同意以 51.5 億加元（37.5 億美元）出售幾乎所有的加拿大 NGL 業務給 Keyera Corp.，預計交易將在 2026 年初完成。Plains 計劃將約 30 億美元的收益用於收購、優先單位贖回和單位回購。</p>
</div><p>It also acquired an additional 20% interest in the BridgeTex Pipeline, boosting its Permian Basin presence to 40%. CEO Willie Chiang said these moves strengthen financial flexibility, streamline operations, and support long-term cash returns.</p>
<div class="lb-trans"><p>它還在 BridgeTex 管道中增持了 20% 的股份，將其在二疊紀盆地的市場份額提升至 40%。首席執行官 Willie Chiang 表示，這些舉措增強了財務靈活性，精簡了運營，並支持長期現金回報。</p>
</div><p>Crude oil operations remained stable, with Adjusted EBITDA up 1% year-over-year due to higher volumes and tariffs. NGL results declined 7% on weaker pricing spreads. Quarterly revenue fell to $10.6 billion from $12.8 billion last year, mainly from lower commodity prices.</p>
<div class="lb-trans"><p>原油業務保持穩定，調整後的 EBITDA 同比增長 1%，得益於更高的交易量和關税。由於定價差距減弱，NGL 的業績下降了 7%。季度收入從去年的 128 億美元降至 106 億美元，主要是由於商品價格下跌。</p>
</div><p>Plains ended the quarter with $27.2 billion in assets and a debt-to-capitalization ratio of 47%, underscoring its solid balance sheet and continued focus on disciplined growth.</p>
<div class="lb-trans"><p>Plains 在季度末的資產總額為 272 億美元，債務資本比率為 47%，突顯了其穩健的資產負債表和對嚴格增長的持續關注。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-at-5.54.04-PM-768x425.png" alt="" original-src="https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-at-5.54.04-PM-768x425.png"/></p>
<p>Source: Investor Relations</p>
<div class="lb-trans"><p>來源：投資者關係</p>
</div><h3><strong>Growth Prospects</strong></h3>
<div class="lb-trans"><h3><strong>增長前景</strong></h3>
</div><p>Plains GP Holdings, L.P. is positioned for steady long-term growth supported by disciplined capital allocation and a focus on strengthening its crude oil and NGL segments. The company evaluates its performance through segment-adjusted EBITDA, emphasizing operational efficiency and cash flow generation.</p>
<div class="lb-trans"><p>Plains GP Holdings, L.P.在嚴格的資本配置和加強原油及 NGL 部門的支持下，具備穩定的長期增長潛力。公司通過部門調整後的 EBITDA 評估其業績，強調運營效率和現金流生成。</p>
</div><p>In 2024, Plains increased its shares outstanding through equity issuances tied to strategic acquisitions and growth initiatives aimed at improving financial flexibility and expanding its asset base. These investments aim to enhance transportation capacity in key regions, such as the Permian Basin, while maintaining a balanced approach to leverage and shareholder returns.</p>
<div class="lb-trans"><p>在 2024 年，Plains 通過與戰略收購和增長計劃相關的股權發行增加了流通股數量，旨在改善財務靈活性並擴大資產基礎。這些投資旨在增強在關鍵區域（如二疊紀盆地）的運輸能力，同時保持對槓桿和股東回報的平衡。</p>
</div><p>Looking ahead, Plains is expected to deliver consistent earnings growth despite operating in a cyclical energy environment. Analysts forecast earnings per share (EPS) of $1.27 in 2025, with an estimated 5% annual EPS growth rate through 2030, reaching approximately $1.62.</p>
<div class="lb-trans"><p>展望未來，儘管在週期性能源環境中運營，Plains 預計將實現持續的盈利增長。分析師預測 2025 年的每股收益（EPS）為 1.27 美元，預計到 2030 年每年 EPS 增長率為 5%，達到約 1.62 美元。</p>
</div><p>The company has also built a solid track record of dividend payments over the past four years, reflecting its commitment to returning value to shareholders.</p>
<div class="lb-trans"><p>該公司在過去四年中建立了穩健的股息支付記錄，反映了其對回饋股東的承諾。</p>
</div><p>While dividend growth may moderate in the near term, the long-term trend remains positive, with projections suggesting a 2% annual increase and a dividend per share (DPS) of about $1.68 by 2030.</p>
<div class="lb-trans"><p>儘管短期內股息增長可能會放緩，但長期趨勢依然向好，預計到 2030 年每股股息（DPS）約為 1.68 美元，年增長率為 2%。</p>
</div><p>These steady growth prospects, supported by strong cash flows and strategic asset optimization, position Plains GP Holdings for sustainable performance in the evolving energy market.</p>
<div class="lb-trans"><p>這些穩定的增長前景，得益於強勁的現金流和戰略資產優化，使 Plains GP Holdings 在不斷變化的能源市場中具備可持續的表現。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-at-5.58.13-PM-768x435.png" alt="" original-src="https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-04-at-5.58.13-PM-768x435.png"/></p>
<p>Source: Investor Relations</p>
<div class="lb-trans"><p>來源：投資者關係</p>
</div><h3><strong>Competitive Advantages &amp; Recession Performance</strong></h3>
<div class="lb-trans"><h3><strong>競爭優勢與經濟衰退表現</strong></h3>
</div><p>Plains GP Holdings’ competitive advantage stems from its large, integrated midstream network and its strategic presence in key production regions, such as the Permian Basin.</p>
<div class="lb-trans"><p>Plains GP Holdings 的競爭優勢源於其龐大的綜合中游網絡以及在關鍵生產區域（如二疊紀盆地）的戰略佈局。</p>
</div><p>Its scale, long-term contracts, and operational efficiency provide stable cash flows, cost advantages, and strong customer relationships, supporting growth and shareholder returns.</p>
<div class="lb-trans"><p>其規模、長期合同和運營效率提供了穩定的現金流、成本優勢和強大的客户關係，支持增長和股東回報。</p>
</div><p>The company has proven resilient during economic downturns due to its fee-based business model and essential infrastructure assets.</p>
<div class="lb-trans"><p>由於其基於費用的商業模式和必要的基礎設施資產，該公司在經濟衰退期間表現出韌性。</p>
</div><p>Long-term contracts and strong liquidity help maintain earnings and distributions even in volatile markets, allowing Plains to navigate recessions while sustaining its competitive position.</p>
<div class="lb-trans"><p>長期合同和強大的流動性幫助維持盈利和分配，即使在波動的市場中，使 Plains 能夠在經濟衰退中保持競爭地位。</p>
</div><h3><strong>Dividend Analysis</strong></h3>
<div class="lb-trans"><h3><strong>股息分析</strong></h3>
</div><p>The company has an annual dividend of $1.52 per share. At its recent share price, the stock has a high yield of 8.9%</p>
<div class="lb-trans"><p>該公司的年股息為每股 1.52 美元。在其最近的股價下，該股票的高收益率為 8.9%。</p>
</div><p>Given the company’s 2025 earnings outlook, EPS is expected to be $1.27 per share. As a result, the company is expected to pay out roughly120% of its EPS to shareholders in dividends.</p>
<div class="lb-trans"><p>考慮到公司 2025 年的盈利前景，預計每股收益為 1.27 美元。因此，預計公司將向股東支付約 120% 的每股收益作為股息。</p>
</div><h3><strong>Final Thoughts</strong></h3>
<div class="lb-trans"><h3><strong>最終思考</strong></h3>
</div><p>Plains GP Holdings operates essential crude oil and NGL infrastructure, and rising energy demand combined with upstream underinvestment should support EPS growth.</p>
<div class="lb-trans"><p>Plains GP Holdings 運營着重要的原油和天然氣液體基礎設施，隨着能源需求的上升以及上游投資不足，預計將支持每股收益的增長。</p>
</div><p>However, dividend growth may remain modest due to the current payout ratio. We maintain a hold rating, reflecting expected medium-term total returns of 10% annually, based on projected 5% EPS growth, an 8.9% dividend yield, and valuation pressures.</p>
<div class="lb-trans"><p>然而，由於當前的派息比率，股息增長可能保持温和。我們維持持有評級，反映出基於預計的 5% 每股收益增長、8.9% 的股息收益率和估值壓力，預計中期年總回報為 10%。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多來自此作者：</em></p>
</div><p>High Dividend 50: Apple Hospitality REIT Inc.</p>
<div class="lb-trans"><p>高股息 50：Apple Hospitality REIT Inc.</p>
</div><p>High Dividend 50: Atrium Mortgage Investment Corporation</p>
<div class="lb-trans"><p>高股息 50：Atrium Mortgage Investment Corporation</p>
</div><p>10 Best Dividend Stocks For Reducing Risk</p>
<div class="lb-trans"><p>降低風險的 10 只最佳股息股票</p>
</div>

高股息 50：Plains GP Holdings, L.P