Plains All American Pipeline (NYSE:PAA) Issues Earnings Results, Beats Estimates By $0.02 EPS

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

Plains All American Pipeline Stock Up 1.5 %

NYSE:PAA traded up $0.26 during mid-day trading on Friday, hitting $17.49. 5,599,907 shares of the company’s stock were exchanged, compared to its average volume of 4,457,181. The company has a market cap of $12.26 billion, a PE ratio of 15.08 and a beta of 1.58. 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 has a one year low of $12.07 and a one year high of $19.03. The business has a fifty day moving average price of $17.37 and a 200 day moving average price of $16.14.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is presently 109.48%.

Analyst Ratings Changes

Several research firms have recently weighed in on PAA. UBS Group boosted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Stifel Nicolaus increased 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 research report on Tuesday, April 16th. Citigroup upped their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Truist Financial boosted their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group upped their target price on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.96.

About Plains All American Pipeline

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.