Wall Street brokerages expect Plains All American Pipeline, L.P. (NYSE:PAA) to report $0.45 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Plains All American Pipeline’s earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.33. Plains All American Pipeline posted earnings of $0.43 per share in the same quarter last year, which suggests a positive year over year growth rate of 4.7%. The business is scheduled to issue its next earnings results on Tuesday, November 5th.
On average, analysts expect that Plains All American Pipeline will report full year earnings of $2.77 per share for the current year, with EPS estimates ranging from $2.54 to $3.12. For the next financial year, analysts forecast that the business will post earnings of $1.97 per share, with EPS estimates ranging from $1.35 to $2.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Plains All American Pipeline.
Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.23. Plains All American Pipeline had a return on equity of 22.39% and a net margin of 9.48%. The firm had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. Plains All American Pipeline’s quarterly revenue was up 2.1% on a year-over-year basis.
PAA has been the topic of a number of analyst reports. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating in a research report on Thursday, June 13th. Piper Jaffray Companies initiated coverage on shares of Plains All American Pipeline in a research report on Wednesday, July 17th. They set an “overweight” rating and a $31.00 target price on the stock. Stifel Nicolaus set a $25.00 target price on shares of Plains All American Pipeline and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their price objective on Plains All American Pipeline to $27.00 and set a “sector perform” rating on the stock in a report on Friday, June 14th. Finally, ValuEngine cut Plains All American Pipeline from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $28.54.
Shares of Plains All American Pipeline stock traded down $0.25 during mid-day trading on Wednesday, hitting $21.57. 1,307,404 shares of the stock were exchanged, compared to its average volume of 2,414,468. Plains All American Pipeline has a twelve month low of $19.33 and a twelve month high of $27.70. The company has a market cap of $15.75 billion, a PE ratio of 11.47 and a beta of 1.00. The stock has a 50-day moving average of $24.11. The company has a quick ratio of 0.90, a current ratio of 1.02 and a debt-to-equity ratio of 0.91.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.68%. The ex-dividend date is Tuesday, July 30th. Plains All American Pipeline’s dividend payout ratio is presently 76.60%.
In other Plains All American Pipeline news, insider Emg Investment, Llc sold 8,179,284 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total value of $188,941,460.40. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the business. American Century Companies Inc. acquired a new stake in Plains All American Pipeline during the 4th quarter worth approximately $305,000. Lake Street Financial LLC acquired a new stake in shares of Plains All American Pipeline in the first quarter valued at $1,442,000. Mercer Global Advisors Inc. ADV acquired a new stake in Plains All American Pipeline in the 1st quarter valued at about $3,219,000. Pennsylvania Trust Co acquired a new stake in Plains All American Pipeline in the 1st quarter valued at about $1,891,000. Finally, Leavell Investment Management Inc. acquired a new stake in Plains All American Pipeline in the 1st quarter valued at about $219,000. Institutional investors own 48.63% of the company’s stock.
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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