Plains All American Pipeline Lp Declares Quarterly Dividend of $0.42 (NASDAQ:PAA)

Plains All American Pipeline Lp (NASDAQ:PAA) declared a quarterly dividend on Monday, July 6th. Stockholders of record on Friday, July 31st will be paid a dividend of 0.4175 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Friday, July 31st.

Plains All American Pipeline has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 5 years. Plains All American Pipeline has a payout ratio of 110.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Plains All American Pipeline to earn $1.65 per share next year, which means the company may not be able to cover its $1.67 annual dividend with an expected future payout ratio of 101.2%.

Plains All American Pipeline Stock Performance

NASDAQ PAA traded up $0.54 during trading on Tuesday, reaching $22.80. The company’s stock had a trading volume of 244,991 shares, compared to its average volume of 3,255,436. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 10.32 and a beta of 0.50. Plains All American Pipeline has a twelve month low of $15.69 and a twelve month high of $24.26. The business’s fifty day moving average price is $22.45 and its 200-day moving average price is $21.01.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company had revenue of $12.47 billion during the quarter. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Plains All American Pipeline will post 1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Americana Partners LLC lifted its position in shares of Plains All American Pipeline by 110.9% in the fourth quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock valued at $10,391,000 after acquiring an additional 304,247 shares in the last quarter. Berkley W R Corp acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter worth about $32,871,000. Goldman Sachs Group Inc. boosted its stake in shares of Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Plains All American Pipeline by 21.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 565,617 shares of the company’s stock worth $10,158,000 after buying an additional 98,666 shares in the last quarter. Finally, GraniteShares Advisors LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth about $2,717,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.