Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Monday, October 7th, Zacks reports. Stockholders of record on Thursday, October 31st will be given a dividend of 0.36 per share by the pipeline company on Thursday, November 14th. This represents a $1.44 annualized dividend and a dividend yield of 7.41%. The ex-dividend date is Wednesday, October 30th.
Plains All American Pipeline has decreased its dividend by an average of 24.2% per year over the last three years. Plains All American Pipeline has a payout ratio of 88.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Plains All American Pipeline to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 75.4%.
Plains All American Pipeline stock opened at $19.43 on Wednesday. The stock has a market cap of $14.61 billion, a P/E ratio of 10.34 and a beta of 1.02. Plains All American Pipeline has a fifty-two week low of $19.33 and a fifty-two week high of $25.81. The firm’s fifty day moving average price is $21.21 and its 200-day moving average price is $23.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.00.
Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.23. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Plains All American Pipeline had a net margin of 9.48% and a return on equity of 21.81%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Sell-side analysts predict that Plains All American Pipeline will post 2.3 earnings per share for the current year.
In other news, VP Chris Herbold sold 23,337 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $21.38, for a total transaction of $498,945.06. Following the transaction, the vice president now directly owns 79,564 shares of the company’s stock, valued at $1,701,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.
PAA has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on Plains All American Pipeline to $27.00 and set a “sector perform” rating on the stock in a research note on Friday, June 14th. Stifel Nicolaus set a $25.00 target price on Plains All American Pipeline and gave the company a “buy” rating in a research note on Wednesday, August 7th. Piper Jaffray Companies initiated coverage on Plains All American Pipeline in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $31.00 target price on the stock. Scotia Howard Weill initiated coverage on Plains All American Pipeline in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, ValuEngine raised Plains All American Pipeline from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. Plains All American Pipeline has a consensus rating of “Buy” and an average price target of $27.73.
About Plains All American Pipeline
Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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