Plains All American Pipeline, L.P. (NYSE:PAA) Announces Quarterly Dividend of $0.32

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Investors of record on Wednesday, May 1st will be given a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 annualized dividend and a dividend yield of 7.11%. The ex-dividend date of this dividend is Tuesday, April 30th.

Plains All American Pipeline has increased its dividend payment by an average of 5.9% annually over the last three years and has increased its dividend every year for the last 3 years. Plains All American Pipeline has a dividend payout ratio of 92.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Plains All American Pipeline to earn $1.40 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 90.7%.

Plains All American Pipeline Price Performance

NYSE PAA opened at $17.87 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $17.27 and a 200 day simple moving average of $16.08. The company has a market cap of $12.53 billion, a P/E ratio of 12.50 and a beta of 1.59. Plains All American Pipeline has a 1 year low of $12.07 and a 1 year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. Plains All American Pipeline’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. On average, sell-side analysts predict that Plains All American Pipeline will post 1.34 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. StockNews.com raised shares of Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a report on Wednesday. The Goldman Sachs Group increased their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Scotiabank initiated coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target for the company. Finally, Citigroup increased their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.96.

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.