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

Plains All American Pipeline Price Performance

Plains All American Pipeline stock traded down $0.01 during mid-day trading on Friday, reaching $17.86. The company had a trading volume of 4,852,367 shares, compared to its average volume of 3,605,680. Plains All American Pipeline has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The company has a market cap of $12.56 billion, a P/E ratio of 24.47 and a beta of 0.73. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $18.16 and a 200 day simple moving average of $18.52.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.5%. Plains All American Pipeline's dividend payout ratio is 163.44%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Plains All American Pipeline stock. NewEdge Advisors LLC acquired a new stake in Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,982 shares of the pipeline company's stock, valued at approximately $260,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PAA shares. Citigroup set a $18.00 price target on shares of Plains All American Pipeline and gave the stock a "neutral" rating in a research report on Friday. JPMorgan Chase & Co. set a $20.00 price target on Plains All American Pipeline in a research report on Friday. Wells Fargo & Company downgraded Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a report on Friday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $20.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 16th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Plains All American Pipeline presently has an average rating of "Hold" and an average target price of $20.75.

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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