Plains All American Pipeline (NYSE:PAA) Announces Earnings Results

Plains All American Pipeline (NYSE:PAA) posted its quarterly earnings results on Friday. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02, Briefing.com reports. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year.

Plains All American Pipeline Trading Up 1.5 %

Shares of NYSE:PAA opened at $17.49 on Monday. The company’s 50-day moving average price is $17.37 and its two-hundred day moving average price is $16.15. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The stock has a market capitalization of $12.26 billion, a PE ratio of 12.23 and a beta of 1.58.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 109.48%.

Analysts Set New Price Targets

Several brokerages have commented on PAA. StockNews.com cut shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Truist Financial raised their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group boosted their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Citigroup boosted their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Scotiabank assumed coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Plains All American Pipeline has an average rating of “Moderate Buy” and a consensus price target of $18.96.

About Plains All American Pipeline

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