Plains All American Pipeline (NYSE:PAA) Issues Earnings Results, Beats Estimates By $0.02 EPS

Plains All American Pipeline (NYSE:PAA) posted its quarterly earnings data on Friday. The pipeline company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02, Briefing.com reports. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS.

Plains All American Pipeline Stock Performance

Shares of PAA stock traded up $0.26 on Friday, hitting $17.49. The company’s stock had a trading volume of 5,599,907 shares, compared to its average volume of 4,457,181. Plains All American Pipeline has a fifty-two week low of $12.07 and a fifty-two week high of $19.03. The company has a market capitalization of $12.26 billion, a PE ratio of 12.58 and a beta of 1.58. The stock’s 50 day moving average is $17.35 and its 200-day moving average is $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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.3175 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.26%. Plains All American Pipeline’s payout ratio is presently 91.37%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PAA. The Goldman Sachs Group upped their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Scotiabank assumed 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 target for the company. UBS Group boosted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Truist Financial raised their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Citigroup boosted their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.