Plains All American Pipeline (NYSE:PAA) Announces Earnings Results

Plains All American Pipeline (NYSE:PAA) released its quarterly earnings data on Friday. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year.

Plains All American Pipeline Price Performance

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

Plains All American Pipeline Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Truist Financial raised their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. The Goldman Sachs Group lifted their target price on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. StockNews.com lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Citigroup raised their price objective on shares of 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. Finally, Scotiabank initiated coverage on Plains All American Pipeline in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline presently 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.