Plains All American Pipeline, L.P. (NYSE:PAA) Forecasted to Post Q1 2024 Earnings of $0.31 Per Share

Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) - Stock analysts at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for shares of Plains All American Pipeline in a research note issued on Sunday, April 28th. Seaport Res Ptn analyst S. Sibal anticipates that the pipeline company will post earnings per share of $0.31 for the quarter. The consensus estimate for Plains All American Pipeline's current full-year earnings is $1.34 per share. Seaport Res Ptn also issued estimates for Plains All American Pipeline's Q2 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.28 EPS, FY2024 earnings at $1.10 EPS, FY2025 earnings at $1.02 EPS, FY2026 earnings at $1.00 EPS and FY2027 earnings at $1.06 EPS.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The company had revenue of $12.70 billion for the quarter, compared to analysts' expectations of $14.30 billion. During the same period last year, the business earned $0.33 EPS. Plains All American Pipeline's quarterly revenue was down 2.0% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on PAA. StockNews.com raised shares of Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 24th. Scotiabank started coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They set a "sector outperform" rating and a $23.00 price objective on the stock. UBS Group lifted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, April 12th. Citigroup lifted their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus lifted their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Plains All American Pipeline presently has a consensus rating of "Moderate Buy" and an average target price of $18.96.

Plains All American Pipeline Stock Down 1.7 %

PAA traded down $0.30 during mid-day trading on Wednesday, reaching $16.93. 4,181,611 shares of the stock were exchanged, compared to its average volume of 3,434,915. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The stock has a market capitalization of $11.87 billion, a PE ratio of 12.18 and a beta of 1.59. The company has a 50 day moving average price of $17.33 and a two-hundred day moving average price of $16.12. Plains All American Pipeline has a 1 year low of $12.07 and a 1 year high of $19.03.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors 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 yield of 7.50%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline's dividend payout ratio is currently 91.37%.

Institutional Investors Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clarus Group Inc. grew its holdings in Plains All American Pipeline by 1.0% during the 1st quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company's stock valued at $1,221,000 after buying an additional 682 shares in the last quarter. Covenant Asset Management LLC grew its holdings in Plains All American Pipeline by 3.7% during the 1st quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company's stock valued at $387,000 after buying an additional 795 shares in the last quarter. First National Trust Co grew its holdings in Plains All American Pipeline by 10.1% during the 4th quarter. First National Trust Co now owns 11,277 shares of the pipeline company's stock valued at $171,000 after buying an additional 1,038 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Plains All American Pipeline by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company's stock valued at $1,411,000 after buying an additional 1,089 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC grew its holdings in Plains All American Pipeline by 1.3% during the 4th quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company's stock valued at $1,268,000 after buying an additional 1,112 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

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.