Plains All American Pipeline, L.P. (NYSE:PAA) Announces Quarterly Dividend of $0.38

Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Tuesday, January 7th,Wall Street Journal reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.38 per share by the pipeline company on Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32.

Plains All American Pipeline has increased its dividend payment by an average of 20.8% per year over the last three years. Plains All American Pipeline has a payout ratio of 86.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Plains All American Pipeline to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 91.4%.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock traded up $1.10 on Thursday, reaching $18.73. The company’s stock had a trading volume of 9,165,552 shares, compared to its average volume of 5,155,436. Plains All American Pipeline has a twelve month low of $15.02 and a twelve month high of $19.17. The business’s fifty day moving average price is $17.48 and its 200 day moving average price is $17.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 16.72 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Equities analysts expect that Plains All American Pipeline will post 1.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on PAA. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Bank of America began 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 target for the company. Finally, Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.