Plains All American Pipeline, L.P. Declares Quarterly Dividend of $0.38 (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) declared a quarterly dividend on Thursday, July 3rd, Wall Street Journal reports. Shareholders of record on Thursday, July 31st will be paid a dividend of 0.38 per share by the pipeline company on Thursday, August 14th. This represents a $1.52 dividend on an annualized basis and a yield of 8.25%. The ex-dividend date of this dividend is Thursday, July 31st.

Plains All American Pipeline has a dividend payout ratio of 100.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Plains All American Pipeline to earn $1.52 per share next year, which means the company may not be able to cover its $1.52 annual dividend with an expected future payout ratio of 100.0%.

Plains All American Pipeline Stock Performance

PAA traded up $0.04 during trading hours on Thursday, reaching $18.43. The company's stock had a trading volume of 1,511,746 shares, compared to its average volume of 3,232,197. The company's 50-day moving average is $17.42 and its 200-day moving average is $18.42. Plains All American Pipeline has a 52 week low of $15.58 and a 52 week high of $21.00. The firm has a market cap of $12.96 billion, a PE ratio of 25.25 and a beta of 0.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same quarter last year, the firm posted $0.41 EPS. The company's revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts forecast that Plains All American Pipeline will post 1.52 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Plains All American Pipeline stock. NewEdge Advisors LLC bought a new position in shares of Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,982 shares of the pipeline company's stock, valued at approximately $260,000. 41.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

PAA has been the subject of several research reports. UBS Group reissued a "buy" rating on shares of Plains All American Pipeline in a report on Friday, May 9th. JPMorgan Chase & Co. lifted their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Royal Bank Of Canada restated a "sector perform" rating and issued a $20.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 16th. Raymond James Financial reiterated a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Wall Street Zen raised shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $20.36.

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.

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