Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Wednesday, January 10th, Wall Street Journal reports. Investors of record on Wednesday, January 31st will be paid a dividend of 0.30 per share by the pipeline company on Wednesday, February 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date is Tuesday, January 30th.
Plains All American Pipeline has decreased its dividend payment by an average of 8.6% per year over the last three years. Plains All American Pipeline has a payout ratio of 105.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Plains All American Pipeline to earn $1.53 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 78.4%.
Shares of Plains All American Pipeline (NYSE PAA) traded down $0.61 during trading hours on Friday, hitting $20.42. 2,430,000 shares of the company were exchanged, compared to its average volume of 3,300,000. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 1.20. Plains All American Pipeline has a twelve month low of $18.38 and a twelve month high of $33.01. The company has a market cap of $14,810.00, a P/E ratio of 23.74 and a beta of 0.87.
Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $6.24 billion. Plains All American Pipeline had a net margin of 3.22% and a return on equity of 9.06%. Plains All American Pipeline’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.39 EPS. analysts expect that Plains All American Pipeline will post 1.16 earnings per share for the current fiscal year.
A number of research analysts have issued reports on PAA shares. BMO Capital Markets set a $25.00 target price on shares of Plains All American Pipeline and gave the company a “buy” rating in a research note on Tuesday, October 17th. Credit Suisse Group started coverage on shares of Plains All American Pipeline in a research note on Thursday, January 4th. They issued an “outperform” rating and a $25.00 price target for the company. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Robert W. Baird set a $20.00 price target on shares of Plains All American Pipeline and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Stifel Nicolaus upped their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.42.
In related news, VP Chris Herbold sold 10,171 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $20.25, for a total value of $205,962.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.
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About Plains All American Pipeline
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.
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