Plains All American Pipeline (NYSE:PAA) Issues Earnings Results, Beats Estimates By $0.06 EPS

Plains All American Pipeline (NYSE:PAA) released its quarterly earnings data on Friday. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06, Briefing.com reports. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year.

Plains All American Pipeline Stock Down 2.8 %

PAA stock traded down $0.50 during midday trading on Friday, hitting $17.28. The company’s stock had a trading volume of 5,878,533 shares, compared to its average volume of 2,621,299. Plains All American Pipeline has a 52-week low of $14.46 and a 52-week high of $19.17. The firm has a 50-day simple moving average of $17.39 and a 200-day simple moving average of $17.56. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $12.11 billion, a P/E ratio of 15.71 and a beta of 1.61.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.35%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 115.45%.

Wall Street Analysts Forecast Growth

PAA has been the topic of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Finally, Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus target price of $19.82.

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.