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

Plains All American Pipeline (NYSE:PAA) announced its quarterly earnings results on Friday. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02, Briefing.com reports. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis.

Plains All American Pipeline Price Performance

Shares of PAA traded up $0.26 during trading hours on Friday, hitting $17.49. The stock had a trading volume of 5,599,907 shares, compared to its average volume of 4,457,181. Plains All American Pipeline has a 52 week low of $12.07 and a 52 week high of $19.03. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 12.58 and a beta of 1.58. The company’s fifty day moving average is $17.35 and its two-hundred day moving average is $16.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is 91.37%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PAA. StockNews.com lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Truist Financial raised their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Stifel Nicolaus upped their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. UBS Group lifted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Finally, Scotiabank started coverage on Plains All American Pipeline in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline 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.