Brokerages Anticipate Plains All American Pipeline, L.P. (NYSE:PAA) to Post $0.31 EPS

Wall Street analysts expect Plains All American Pipeline, L.P. (NYSE:PAA) to post earnings of $0.31 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Plains All American Pipeline’s earnings, with estimates ranging from $0.10 to $0.40. Plains All American Pipeline posted earnings per share of $0.52 during the same quarter last year, which indicates a negative year over year growth rate of 40.4%. The firm is scheduled to issue its next earnings results after the market closes on Monday, November 2nd.

On average, analysts expect that Plains All American Pipeline will report full-year earnings of ($3.21) per share for the current year, with EPS estimates ranging from ($3.48) to ($3.06). For the next fiscal year, analysts anticipate that the firm will report earnings of $1.30 per share, with EPS estimates ranging from $0.57 to $1.60. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Plains All American Pipeline.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Tuesday, August 4th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.03). The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $8.63 billion. Plains All American Pipeline had a negative net margin of 7.01% and a positive return on equity of 17.85%. The business’s revenue was down 60.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share.

PAA has been the subject of a number of recent analyst reports. TD Securities initiated coverage on Plains All American Pipeline in a research report on Tuesday, June 30th. They set a “buy” rating and a $17.00 target price for the company. Bank of America raised Plains All American Pipeline from an “underperform” rating to a “buy” rating in a report on Tuesday, July 21st. Raymond James upped their target price on Plains All American Pipeline from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Morgan Stanley raised Plains All American Pipeline from an “underweight” rating to an “overweight” rating and set a $8.00 target price for the company in a report on Friday, September 25th. They noted that the move was a valuation call. Finally, BofA Securities raised Plains All American Pipeline from an “underperform” rating to a “buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.93.

Hedge funds have recently modified their holdings of the company. Blackstone Group Inc bought a new stake in shares of Plains All American Pipeline during the 2nd quarter valued at about $300,979,000. Brookfield Asset Management Inc. increased its position in shares of Plains All American Pipeline by 2,091.2% during the second quarter. Brookfield Asset Management Inc. now owns 12,599,122 shares of the pipeline company’s stock valued at $111,376,000 after acquiring an additional 12,024,122 shares during the last quarter. Morgan Stanley increased its position in shares of Plains All American Pipeline by 80.4% during the first quarter. Morgan Stanley now owns 14,956,977 shares of the pipeline company’s stock valued at $78,973,000 after acquiring an additional 6,666,173 shares during the last quarter. Invesco Ltd. increased its position in shares of Plains All American Pipeline by 47.2% during the first quarter. Invesco Ltd. now owns 4,295,175 shares of the pipeline company’s stock valued at $22,678,000 after acquiring an additional 1,377,086 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Plains All American Pipeline by 57.2% during the first quarter. Parametric Portfolio Associates LLC now owns 2,115,791 shares of the pipeline company’s stock valued at $11,171,000 after acquiring an additional 770,129 shares during the last quarter. 46.81% of the stock is owned by institutional investors.

NYSE:PAA opened at $6.59 on Tuesday. The stock has a fifty day moving average price of $6.51 and a 200-day moving average price of $7.78. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -2.23 and a beta of 2.19. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.69 and a current ratio of 0.87. Plains All American Pipeline has a fifty-two week low of $3.00 and a fifty-two week high of $19.70.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.18 dividend. The ex-dividend date is Thursday, October 29th. This represents a $0.72 annualized dividend and a dividend yield of 10.93%. Plains All American Pipeline’s payout ratio is 28.69%.

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 through 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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