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    Tristan Richardson

    Vice President and Equity Research Analyst at Scotiabank

    Tristan Richardson is a Vice President and Equity Research Analyst at Scotiabank, specializing in the energy and renewable sectors with a focus on companies such as Crestwood Equity Partners, Plug Power, Sunrun, SolarEdge Technologies, Shoals Technologies, and SunPower. He covers more than 40 publicly traded companies and has issued ratings on notable names like Kinetik Holdings, often publishing impactful stock calls including major price target changes. According to TipRanks, he has a track record that includes a 53% success rate and an average return of -4.15%, with industry recognition as a 3.72-star analyst. Richardson began his equity research analyst career prior to joining Scotiabank, where he has quickly established a reputation for sector knowledge, and he also maintains professional securities licenses in accordance with regulatory requirements.

    Tristan Richardson's questions to PLAINS ALL AMERICAN PIPELINE (PAA) leadership

    Tristan Richardson's questions to PLAINS ALL AMERICAN PIPELINE (PAA) leadership • Q2 2024

    Question

    Tristan Richardson inquired about the drivers behind the increased guidance for the crude segment, specifically the role of producer efficiencies, and asked about the expected reduction in earnings variability for the NGL segment as it transitions to a more fee-based model.

    Answer

    Executive Jeremy Goebel explained that the crude guidance increase was due to both opportunistic captures and producer efficiencies, which he views as a sustainable positive trend. For the NGL segment, Goebel noted that new long-term contracts will shift the business to less than 50% frac spread exposed, increasing predictability. CEO Willie Chiang added that while seasonality will remain, the fee-based shift aims to flatten its impact.

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