Plains All American Pipeline (NYSE:PAA) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Plains All American Pipeline (NYSE:PAA) reported earnings of $0.36 EPS for the quarter, exceeding analysts' estimates by $0.03.
• The company's quarterly revenue decreased by 16.6% compared to the same quarter last year.
• Plains All American Pipeline announced a quarterly dividend of $0.38, equating to an annualized dividend of $1.52 with a yield of 8.5%.

Plains All American Pipeline (NYSE:PAA - Get Free Report) posted its earnings results on Friday. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03, Briefing.com reports. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the previous year, the company posted $0.31 EPS. The business's revenue was down 16.6% compared to the same quarter last year.

Plains All American Pipeline Trading Down 0.2%

NYSE PAA traded down $0.03 during trading on Wednesday, hitting $17.63. 1,095,000 shares of the company's stock traded hands, compared to its average volume of 3,577,712. The stock has a fifty day moving average of $18.22 and a two-hundred day moving average of $18.45. Plains All American Pipeline has a 12-month low of $15.57 and a 12-month high of $21.00. The firm has a market cap of $12.40 billion, a P/E ratio of 24.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 8.6%. Plains All American Pipeline's payout ratio is currently 172.73%.

Analysts Set New Price Targets

PAA has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $20.00 price target on shares of Plains All American Pipeline in a report on Friday, May 16th. Wells Fargo & Company cut shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. set a $20.00 price target on shares of Plains All American Pipeline in a report on Friday, August 8th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Plains All American Pipeline in a report on Friday, August 8th. Finally, Citigroup set a $18.00 price target on shares of Plains All American Pipeline and gave the stock a "neutral" rating in a report on Friday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.75.

Institutional Investors Weigh In On Plains All American Pipeline

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