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

Plains All American Pipeline (NYSE:PAA) announced its earnings results on Friday. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06, Briefing.com reports. The firm 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 2.07% and a return on equity of 11.52%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS.

Plains All American Pipeline Trading Down 2.8 %

Plains All American Pipeline stock traded down $0.50 during midday trading on Friday, hitting $17.28. 5,878,533 shares of the stock were exchanged, compared to its average volume of 2,621,299. The stock’s 50-day simple moving average is $17.39 and its 200 day simple 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 current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a fifty-two week low of $14.46 and a fifty-two week high of $19.17.

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 given a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.35%. Plains All American Pipeline’s payout ratio is 115.45%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America assumed coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective for the company. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. One equities research 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’s stock. Based on data from MarketBeat, the company presently has an average 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.