Plains All American Pipeline (NYSE:PAA) posted its quarterly earnings data on Tuesday. The pipeline company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06, Briefing.com reports. The firm had revenue of $8.79 billion during the quarter, compared to analyst estimates of $7.82 billion. Plains All American Pipeline had a return on equity of 12.80% and a net margin of 2.04%. Plains All American Pipeline’s revenue was up 49.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS.
PAA stock traded down $0.06 during trading on Wednesday, reaching $23.65. The company’s stock had a trading volume of 3,697,674 shares, compared to its average volume of 2,825,197. Plains All American Pipeline has a 1 year low of $18.38 and a 1 year high of $27.70. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.63 and a current ratio of 0.75. The firm has a market capitalization of $16.22 billion, a PE ratio of 25.16, a PEG ratio of 1.71 and a beta of 0.91.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.07%. Plains All American Pipeline’s payout ratio is presently 127.66%.
In other Plains All American Pipeline news, VP Chris Herbold sold 10,591 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $26.35, for a total value of $279,072.85. Following the completion of the sale, the vice president now owns 34,227 shares in the company, valued at approximately $901,881.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of PAA. Centaurus Financial Inc. purchased a new stake in Plains All American Pipeline in the 2nd quarter worth $109,000. Exane Derivatives increased its stake in Plains All American Pipeline by 14,250.0% in the 3rd quarter. Exane Derivatives now owns 5,740 shares of the pipeline company’s stock worth $142,000 after buying an additional 5,700 shares in the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in Plains All American Pipeline in the 2nd quarter worth $162,000. United Asset Strategies Inc. purchased a new position in shares of Plains All American Pipeline during the third quarter valued at about $200,000. Finally, Penn Davis Mcfarland Inc. purchased a new position in shares of Plains All American Pipeline during the second quarter valued at about $201,000. Institutional investors and hedge funds own 45.90% of the company’s stock.
Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price objective on Plains All American Pipeline from $24.00 to $26.00 and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Morgan Stanley set a $30.00 price objective on Plains All American Pipeline and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. TheStreet lowered Plains All American Pipeline from a “b-” rating to a “c+” rating in a research note on Wednesday, August 8th. Finally, ValuEngine upgraded Plains All American Pipeline from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. Plains All American Pipeline currently has an average rating of “Buy” and a consensus price target of $27.88.
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About Plains All American Pipeline
Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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