Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars. This segment provides terminalling, storage, and other facilities-related services, as well as merchant activities. As of December 31, 2021, this segment owned and leased 18,300 miles of active crude oil transportation pipelines and gathering systems, as well as an additional 110 miles of pipelines that supports crude oil storage and terminalling facilities; 74 million barrels of commercial crude oil storage capacity; 38 million barrels of active, above-ground tank capacity; four marine facilities; a condensate processing facility; seven crude oil rail terminals and 2,100 crude oil railcars; and 640 trucks and 1,275 trailers. The Natural Gas Liquids segment engages in the natural gas processing, NGL fractionation, storage, transportation, and terminalling activities. As of December 31, 2021, this segment owned and operated four natural gas processing plants; nine fractionation plants; 28 million barrels of NGL storage capacity; approximately 1,620 miles of active NGL transportation pipelines, as well as an additional 55 miles of pipeline that supports NGL storage facilities; 16 NGL rail terminals and approximately 3,900 NGL rail cars; and approximately 220 trailers. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.
Plains All American Pipeline Trading Up 3.4 %
NYSE:PAA opened at $11.90 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. Plains All American Pipeline has a twelve month low of $8.64 and a twelve month high of $12.10. The firm has a market capitalization of $8.39 billion, a PE ratio of 10.66 and a beta of 1.79. The stock's 50 day moving average is $10.56 and its 200 day moving average is $10.81.
Plains All American Pipeline (NYSE:PAA - Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.50% and a net margin of 1.36%. During the same quarter last year, the firm earned $0.23 EPS. Research analysts forecast that Plains All American Pipeline will post 1.08 earnings per share for the current fiscal year.
Plains All American Pipeline Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.2175 dividend. This represents a $0.87 annualized dividend and a yield of 7.31%. The ex-dividend date was Thursday, July 28th. Plains All American Pipeline's dividend payout ratio (DPR) is 106.10%.
Analyst Ratings Changes
PAA has been the subject of several recent research reports. Seaport Res Ptn raised Plains All American Pipeline from a "neutral" rating to a "buy" rating in a report on Monday, August 1st. Credit Suisse Group raised Plains All American Pipeline from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $13.00 to $14.00 in a report on Thursday, May 12th. Wolfe Research lowered Plains All American Pipeline from an "outperform" rating to a "peer perform" rating in a report on Monday, August 1st. Morgan Stanley raised their target price on Plains All American Pipeline from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 26th. Finally, StockNews.com upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Thursday, August 11th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $14.38.
Insiders Place Their Bets
In related news, Director Kevin S. Mccarthy bought 200,000 shares of the company's stock in a transaction on Thursday, June 23rd. The shares were acquired at an average cost of $9.81 per share, with a total value of $1,962,000.00. Following the completion of the acquisition, the director now owns 200,000 shares of the company's stock, valued at approximately $1,962,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company's stock.
