Plains All American Pipeline (NYSE:PAA) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Plains All American Pipeline (NYSE:PAAGet Rating) announced its quarterly earnings data on Wednesday. The pipeline company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.16 by $0.14, Fidelity Earnings reports. Plains All American Pipeline had a net margin of 1.36% and a return on equity of 9.77%. During the same quarter in the prior year, the business posted $0.23 earnings per share.

Plains All American Pipeline Trading Up 1.7 %

Shares of PAA traded up $0.19 during midday trading on Friday, hitting $11.20. 6,000,343 shares of the stock were exchanged, compared to its average volume of 4,690,960. The firm has a market cap of $7.90 billion, a P/E ratio of 13.66 and a beta of 1.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.88 and a current ratio of 0.94. Plains All American Pipeline has a 52-week low of $8.64 and a 52-week high of $12.10. The stock has a fifty day simple moving average of $10.60 and a 200 day simple moving average of $10.75.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be given a $0.2175 dividend. The ex-dividend date is Thursday, July 28th. This represents a $0.87 annualized dividend and a yield of 7.77%. Plains All American Pipeline’s payout ratio is 106.10%.

Insider Buying and Selling at Plains All American Pipeline

In other news, Director Kevin S. Mccarthy bought 200,000 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were acquired at an average price of $9.81 per share, for a total transaction of $1,962,000.00. Following the completion of the transaction, the director now owns 200,000 shares of the company’s stock, valued at $1,962,000. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in Plains All American Pipeline in the 1st quarter valued at $130,000. XTX Topco Ltd purchased a new position in Plains All American Pipeline in the 1st quarter valued at about $181,000. Cetera Advisor Networks LLC boosted its position in Plains All American Pipeline by 45.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 16,943 shares of the pipeline company’s stock valued at $182,000 after buying an additional 5,296 shares during the last quarter. Beacon Pointe Advisors LLC boosted its position in Plains All American Pipeline by 131.9% in the 1st quarter. Beacon Pointe Advisors LLC now owns 32,166 shares of the pipeline company’s stock valued at $346,000 after buying an additional 18,295 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of Plains All American Pipeline by 8.8% in the 1st quarter. Guggenheim Capital LLC now owns 32,766 shares of the pipeline company’s stock valued at $353,000 after purchasing an additional 2,647 shares in the last quarter. 45.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on PAA. Mizuho lifted their price objective on shares of Plains All American Pipeline from $13.00 to $14.00 in a report on Wednesday, May 11th. Seaport Res Ptn upgraded Plains All American Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, August 1st. StockNews.com lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Morgan Stanley boosted their price objective on Plains All American Pipeline from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, April 26th. Finally, Bank of America upgraded Plains All American Pipeline from an “underperform” rating to a “neutral” rating and set a $12.00 price objective for the company in a research report on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Moderate Buy” and a consensus target price of $14.18.

Plains All American Pipeline Company Profile

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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.

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

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