Piper Sandler Analysts Lower Earnings Estimates for Plains All American Pipeline, L.P. (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) – Analysts at Piper Sandler cut their Q4 2020 earnings per share (EPS) estimates for Plains All American Pipeline in a research note issued on Wednesday, January 15th. Piper Sandler analyst P. Hammond now forecasts that the pipeline company will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.42. Piper Sandler also issued estimates for Plains All American Pipeline’s FY2021 earnings at $1.70 EPS.

PAA has been the topic of a number of other reports. ValuEngine raised shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Goldman Sachs Group assumed coverage on shares of Plains All American Pipeline in a research report on Monday, December 9th. They set a “neutral” rating and a $18.00 target price for the company. Royal Bank of Canada decreased their target price on shares of Plains All American Pipeline from $26.00 to $20.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 11th. Robert W. Baird upgraded shares of Plains All American Pipeline from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $22.00 to $21.00 in a research report on Monday, December 2nd. Finally, Raymond James decreased their target price on shares of Plains All American Pipeline from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Plains All American Pipeline currently has a consensus rating of “Buy” and an average price target of $24.17.

Shares of PAA traded up $0.12 during trading hours on Friday, reaching $19.02. 1,015,032 shares of the company traded hands, compared to its average volume of 3,872,627. The stock has a market capitalization of $13.71 billion, a P/E ratio of 10.11 and a beta of 1.02. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. Plains All American Pipeline has a 12-month low of $16.77 and a 12-month high of $25.27. The business has a fifty day moving average price of $18.20 and a 200-day moving average price of $20.41.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Tuesday, November 5th. The pipeline company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.13. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $8.05 billion. Plains All American Pipeline had a net margin of 8.95% and a return on equity of 21.05%. Plains All American Pipeline’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, January 30th. This represents a $1.44 dividend on an annualized basis and a yield of 7.57%. Plains All American Pipeline’s dividend payout ratio is presently 76.60%.

A number of hedge funds and other institutional investors have recently bought and sold shares of PAA. Atwater Malick LLC purchased a new stake in Plains All American Pipeline during the 3rd quarter valued at about $25,000. Garrett Wealth Advisory Group LLC purchased a new stake in Plains All American Pipeline during the 3rd quarter valued at about $26,000. Arlington Partners LLC purchased a new stake in Plains All American Pipeline during the 4th quarter valued at about $30,000. Lenox Wealth Advisors LLC purchased a new stake in Plains All American Pipeline during the 3rd quarter valued at about $32,000. Finally, North Star Investment Management Corp. purchased a new stake in Plains All American Pipeline during the 3rd quarter valued at about $37,000. Institutional investors own 52.14% 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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Earnings History and Estimates for Plains All American Pipeline (NYSE:PAA)

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