Plains All American Pipeline (NYSE:PAA) announced its quarterly earnings data on Tuesday, February 6th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.16), Bloomberg Earnings reports. The firm had revenue of $7.61 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Plains All American Pipeline had a net margin of 3.26% and a return on equity of 9.93%. The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS.
Plains All American Pipeline (PAA) traded up $0.03 on Wednesday, reaching $22.42. 937,531 shares of the company were exchanged, compared to its average volume of 3,799,302. The firm has a market cap of $15,997.67, a price-to-earnings ratio of 23.08 and a beta of 0.87. Plains All American Pipeline has a 1-year low of $18.38 and a 1-year high of $33.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.78 and a current ratio of 1.00.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Tuesday, January 30th. Plains All American Pipeline’s payout ratio is 123.71%.
Several brokerages recently issued reports on PAA. Morgan Stanley raised shares of Plains All American Pipeline from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Tuesday. Bank of America cut their price target on shares of Plains All American Pipeline from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Robert W. Baird set a $22.00 price target on shares of Plains All American Pipeline and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Seaport Global Securities raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $25.00 in a research note on Thursday, February 8th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $24.00 price target (up previously from $22.00) on shares of Plains All American Pipeline in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.79.
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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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