Plains All American Pipeline (NYSE:PAA) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Plains All American Pipeline (NYSE:PAA) issued its earnings results on Friday. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02, Briefing.com reports. 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 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. Plains All American Pipeline’s revenue for the quarter was down 2.8% on a year-over-year basis.

Plains All American Pipeline Trading Up 1.5 %

Shares of Plains All American Pipeline stock traded up $0.26 during midday trading on Friday, reaching $17.49. 5,599,907 shares of the company’s stock traded hands, compared to its average volume of 4,457,181. Plains All American Pipeline has a 12 month low of $12.07 and a 12 month high of $19.03. The company has a market cap of $12.26 billion, a PE ratio of 12.58 and a beta of 1.58. The stock has a 50 day moving average of $17.35 and a 200-day moving average of $16.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.3175 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.26%. Plains All American Pipeline’s payout ratio is currently 91.37%.

Analysts Set New Price Targets

A number of research firms have weighed in on PAA. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. UBS Group lifted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Stifel Nicolaus raised their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. The Goldman Sachs Group upped their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Finally, StockNews.com downgraded Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.96.

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.