Plains All American Pipeline, L.P. to Issue Quarterly Dividend of $0.32 (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Shareholders of record on Wednesday, May 1st will be paid a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 annualized dividend and a yield of 6.73%. The ex-dividend date is Tuesday, April 30th.

Plains All American Pipeline has raised its dividend payment by an average of 5.9% per year over the last three years and has increased its dividend every year for the last 3 years. Plains All American Pipeline has a payout ratio of 94.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect Plains All American Pipeline to earn $1.24 per share next year, which means the company may not be able to cover its $1.27 annual dividend with an expected future payout ratio of 102.4%.

Plains All American Pipeline Price Performance

PAA stock traded up $0.32 during mid-day trading on Monday, hitting $18.88. 4,578,373 shares of the stock were exchanged, compared to its average volume of 3,147,199. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The business has a fifty day moving average price of $16.61 and a 200 day moving average price of $15.80. Plains All American Pipeline has a 12 month low of $12.07 and a 12 month high of $19.03. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of 13.58 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the company posted $0.33 EPS. Plains All American Pipeline's revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Plains All American Pipeline will post 1.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank assumed coverage on Plains All American Pipeline in a research note on Monday. They issued a "sector outperform" rating and a $23.00 target price for the company. Truist Financial boosted their target price on 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. StockNews.com raised Plains All American Pipeline from a "buy" rating to a "strong-buy" rating in a research note on Friday, March 22nd. Finally, Citigroup boosted their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the company a "neutral" rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Plains All American Pipeline has a consensus rating of "Moderate Buy" and a consensus price target of $18.10.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors and hedge funds have recently bought and sold shares of PAA. Sunbelt Securities Inc. bought a new stake in shares of Plains All American Pipeline in the first quarter worth about $28,000. Clear Street Markets LLC bought a new stake in shares of Plains All American Pipeline in the fourth quarter worth about $45,000. First Capital Advisors Group LLC. bought a new stake in shares of Plains All American Pipeline in the second quarter worth about $58,000. IFP Advisors Inc grew its position in Plains All American Pipeline by 64.0% in the second quarter. IFP Advisors Inc now owns 4,552 shares of the pipeline company's stock worth $64,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Plains All American Pipeline in the first quarter worth about $84,000. 41.78% of the stock is owned by institutional investors.

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.