Plains All American Pipeline (NYSE:PAA) Releases Earnings Results, Beats Estimates By $0.14 EPS

Plains All American Pipeline (NYSE:PAAGet Rating) announced its quarterly earnings data on Wednesday. The pipeline company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.14, Fidelity Earnings reports. Plains All American Pipeline had a net margin of 1.36% and a return on equity of 9.77%. During the same period in the prior year, the firm posted $0.23 earnings per share.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock traded up $0.19 during midday trading on Friday, hitting $11.20. The company’s stock had a trading volume of 5,997,202 shares, compared to its average volume of 5,525,000. Plains All American Pipeline has a 1-year low of $8.64 and a 1-year high of $12.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.88. The company has a 50-day moving average price of $10.60 and a two-hundred day moving average price of $10.75. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 13.66 and a beta of 1.79.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a $0.2175 dividend. This represents a $0.87 annualized dividend and a yield of 7.77%. The ex-dividend date of this dividend is Thursday, July 28th. Plains All American Pipeline’s dividend payout ratio (DPR) is 106.10%.

Insiders Place Their Bets

In other news, Director Kevin S. Mccarthy bought 200,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The shares were purchased at an average cost of $9.81 per share, with a total value of $1,962,000.00. Following the acquisition, the director now directly owns 200,000 shares in the company, valued at $1,962,000. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Plains All American Pipeline

Several hedge funds have recently bought and sold shares of the company. Invesco Ltd. increased its holdings in Plains All American Pipeline by 38.9% in the 1st quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock valued at $187,388,000 after buying an additional 4,880,244 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Plains All American Pipeline by 2.7% during the 1st quarter. Clearbridge Investments LLC now owns 7,317,092 shares of the pipeline company’s stock valued at $78,732,000 after purchasing an additional 194,589 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Plains All American Pipeline by 4,193.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,506,010 shares of the pipeline company’s stock valued at $26,965,000 after purchasing an additional 2,447,646 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Plains All American Pipeline by 2.3% during the 1st quarter. Royal Bank of Canada now owns 322,423 shares of the pipeline company’s stock valued at $3,470,000 after purchasing an additional 7,230 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Plains All American Pipeline by 20.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180,026 shares of the pipeline company’s stock valued at $1,937,000 after purchasing an additional 30,384 shares during the last quarter. 45.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PAA has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Plains All American Pipeline from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Barclays cut their target price on shares of Plains All American Pipeline from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. Seaport Res Ptn upgraded shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday. Raymond James raised their target price on shares of Plains All American Pipeline from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 20th. Finally, StockNews.com cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.18.

About Plains All American Pipeline

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Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

Further Reading

Earnings History for Plains All American Pipeline (NYSE:PAA)

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