Plains All American Pipeline, L.P. Announces Quarterly Dividend of $0.18 (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Wednesday, April 7th, Wall Street Journal reports. Shareholders of record on Friday, April 30th will be paid a dividend of 0.18 per share by the pipeline company on Friday, May 14th. This represents a $0.72 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend is Thursday, April 29th.

Plains All American Pipeline has decreased its dividend by 53.9% over the last three years.

Shares of NYSE PAA opened at $9.36 on Thursday. The firm has a 50-day simple moving average of $9.15 and a two-hundred day simple moving average of $8.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.90 and a quick ratio of 0.72. Plains All American Pipeline has a 1 year low of $5.19 and a 1 year high of $12.35. The company has a market cap of $6.76 billion, a P/E ratio of -2.78 and a beta of 2.22.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Monday, February 8th. The pipeline company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.42). Plains All American Pipeline had a negative net margin of 8.71% and a positive return on equity of 19.02%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $7.23 billion. As a group, equities research analysts expect that Plains All American Pipeline will post 1.53 EPS for the current year.

Several research firms have recently weighed in on PAA. Mizuho decreased their price target on shares of Plains All American Pipeline from $14.00 to $12.00 in a research note on Thursday, February 11th. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research note on Monday, February 1st. They issued an “outperform” rating for the company. Morgan Stanley reissued an “equal weight” rating on shares of Plains All American Pipeline in a research note on Monday, March 29th. Barclays reduced their price objective on shares of Plains All American Pipeline from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, March 19th. Finally, Raymond James reduced their price objective on shares of Plains All American Pipeline from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 10th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.17.

Plains All American Pipeline Company Profile

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 through three segments: Transportation, Facilities, and Supply and Logistics.

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Dividend History for Plains All American Pipeline (NYSE:PAA)

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