Plains All American Pipeline (NYSE:PAA) Releases Earnings Results, Beats Estimates By $0.06 EPS

Plains All American Pipeline (NYSE:PAA) announced its earnings results on Friday. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06, Briefing.com reports. The business had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS.

Plains All American Pipeline Price Performance

Shares of NYSE PAA traded down $0.50 during trading on Friday, hitting $17.28. 5,878,533 shares of the company were exchanged, compared to its average volume of 2,621,299. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 15.71 and a beta of 1.61. Plains All American Pipeline has a 1 year low of $14.46 and a 1 year high of $19.17. The firm’s fifty day moving average price is $17.39 and its 200 day moving average price is $17.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.35%. Plains All American Pipeline’s payout ratio is currently 115.45%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAA. Bank of America began coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective on the stock. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Company Profile

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.