Analysts Anticipate Plains All American Pipeline, L.P. (PAA) Will Announce Quarterly Sales of $8.82 Billion

Wall Street brokerages expect Plains All American Pipeline, L.P. (NYSE:PAA) to report $8.82 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Plains All American Pipeline’s earnings. The lowest sales estimate is $8.37 billion and the highest is $9.66 billion. Plains All American Pipeline posted sales of $7.61 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.9%. The business is expected to report its next earnings results on Tuesday, February 5th.

On average, analysts expect that Plains All American Pipeline will report full year sales of $34.77 billion for the current fiscal year, with estimates ranging from $32.19 billion to $39.72 billion. For the next year, analysts anticipate that the firm will post sales of $37.24 billion, with estimates ranging from $32.24 billion to $45.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Plains All American Pipeline.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.90%. The business had revenue of $8.79 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue was up 49.7% on a year-over-year basis.

PAA has been the topic of several research analyst reports. TheStreet raised shares of Plains All American Pipeline from a “c+” rating to a “b-” rating in a report on Wednesday. Morgan Stanley set a $28.00 target price on shares of Plains All American Pipeline and gave the stock a “buy” rating in a report on Friday, September 14th. Johnson Rice initiated coverage on shares of Plains All American Pipeline in a report on Thursday, September 13th. They issued a “buy” rating and a $31.00 target price on the stock. BMO Capital Markets reissued a “buy” rating and issued a $29.00 target price on shares of Plains All American Pipeline in a report on Monday, August 13th. Finally, SunTrust Banks reissued a “buy” rating and issued a $29.00 target price on shares of Plains All American Pipeline in a report on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Plains All American Pipeline currently has an average rating of “Buy” and an average price target of $27.88.

In related news, VP Chris Herbold sold 10,591 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total transaction of $279,072.85. Following the sale, the vice president now owns 34,227 shares of the company’s stock, valued at $901,881.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. BP Capital Fund Advisors LLC increased its position in Plains All American Pipeline by 7.5% during the third quarter. BP Capital Fund Advisors LLC now owns 346,617 shares of the pipeline company’s stock valued at $8,598,000 after acquiring an additional 24,239 shares during the last quarter. Pathstone Family Office LLC bought a new position in Plains All American Pipeline during the third quarter valued at $131,000. BlackRock Inc. increased its position in Plains All American Pipeline by 7.4% during the third quarter. BlackRock Inc. now owns 2,849,598 shares of the pipeline company’s stock valued at $71,268,000 after acquiring an additional 195,398 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Plains All American Pipeline by 3.1% during the third quarter. PNC Financial Services Group Inc. now owns 536,613 shares of the pipeline company’s stock valued at $13,421,000 after acquiring an additional 15,994 shares during the last quarter. Finally, Hourglass Capital LLC bought a new position in Plains All American Pipeline during the third quarter valued at $271,000. Institutional investors and hedge funds own 45.90% of the company’s stock.

Shares of PAA stock traded down $0.49 during mid-day trading on Wednesday, hitting $23.01. The company had a trading volume of 2,036,275 shares, compared to its average volume of 2,414,837. Plains All American Pipeline has a 52-week low of $18.38 and a 52-week high of $27.70. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.63 and a current ratio of 0.75. The company has a market capitalization of $17.16 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.81 and a beta of 0.91.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend is Tuesday, October 30th. Plains All American Pipeline’s payout ratio is 127.66%.

Plains All American Pipeline Company Profile

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.

Recommended Story: Day Trading

Get a free copy of the Zacks research report on Plains All American Pipeline (PAA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Plains All American Pipeline (NYSE:PAA)

Receive News & Ratings for Plains All American Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply