Plains All American Pipeline (NYSE:PAA) Announces Quarterly Earnings Results

Plains All American Pipeline (NYSE:PAA) released its quarterly earnings results on Friday. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06, Briefing.com reports. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The business had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the previous year, the firm earned $0.35 EPS. The business’s revenue was up 5.6% on a year-over-year basis.

Plains All American Pipeline Trading Down 2.8 %

PAA stock traded down $0.50 on Friday, hitting $17.28. 5,878,533 shares of the company were exchanged, compared to its average volume of 2,621,299. Plains All American Pipeline has a twelve month low of $14.46 and a twelve month high of $19.17. The business’s fifty day moving average is $17.39 and its two-hundred day moving average is $17.56. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 15.71 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.35%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 115.45%.

Wall Street Analyst Weigh In

PAA has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Bank of America initiated coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.