Plains All American Pipeline Lp (NASDAQ:PAA) Stock to Pay Quarterly Dividend of $0.42

Plains All American Pipeline Lp (NASDAQ:PAA) declared a quarterly dividend on Thursday, October 1st. Investors of record on Friday, October 30th will be paid a dividend of $0.4175 per share on Friday, November 13th. This represents a $1.67 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 30th.

Plains All American Pipeline has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 5 years. Plains All American Pipeline has a dividend payout ratio of 110.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Plains All American Pipeline to earn $1.78 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 93.8%.

Plains All American Pipeline Stock Down 0.1%

Plains All American Pipeline stock traded down $0.02 during mid-day trading on Friday, reaching $23.68. The stock had a trading volume of 1,163,138 shares, compared to its average volume of 3,025,437. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 8.18 and a beta of 0.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. Plains All American Pipeline has a one year low of $15.69 and a one year high of $26.39. The company has a 50-day moving average price of $24.68 and a two-hundred day moving average price of $23.20.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.09). The business had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The business’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, analysts expect that Plains All American Pipeline will post 1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

PAA has been the topic of several analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $27.00 price target on shares of Plains All American Pipeline in a report on Monday, September 21st. Barclays boosted their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, September 21st. Mizuho boosted their price objective on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. JPMorgan Chase & Co. increased their price target on Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Finally, Morgan Stanley increased their price target on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.43.

About Plains All American Pipeline

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that provides midstream energy infrastructure and logistics services. The company primarily transports, stores and handles crude oil and natural gas liquids (NGLs) for producers, refiners, exporters and other energy customers.

Its operations include pipeline transportation, gathering systems, storage terminals, rail and truck facilities, and other supply-chain assets. Plains also provides terminalling, inventory management and related logistics services that connect production areas with refineries, processing facilities and export markets.

Plains All American serves key producing regions in the United States and Canada, with a significant presence in the Permian Basin and other North American oil and NGL markets.