Plains All American Pipeline, L.P. (NYSE:PAA – Get Rating) – Investment analysts at Seaport Res Ptn upped their Q2 2022 EPS estimates for Plains All American Pipeline in a research report issued on Monday, August 1st. Seaport Res Ptn analyst S. Sibal now forecasts that the pipeline company will post earnings of $0.23 per share for the quarter, up from their prior estimate of $0.20. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Plains All American Pipeline’s current full-year earnings is $1.10 per share. Seaport Res Ptn also issued estimates for Plains All American Pipeline’s Q3 2022 earnings at $0.29 EPS, Q4 2022 earnings at $0.34 EPS and FY2024 earnings at $1.36 EPS.
Plains All American Pipeline (NYSE:PAA – Get Rating) last issued its earnings results on Wednesday, May 4th. The pipeline company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.06). The firm had revenue of $13.69 billion during the quarter, compared to analysts’ expectations of $12.15 billion. Plains All American Pipeline had a net margin of 0.65% and a return on equity of 9.80%. The firm’s revenue was up 63.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS.
Plains All American Pipeline Stock Up 0.1 %
PAA stock opened at $10.88 on Wednesday. The company has a market cap of $7.67 billion, a P/E ratio of 47.30 and a beta of 1.79. Plains All American Pipeline has a 52 week low of $8.64 and a 52 week high of $12.10. The company’s 50-day moving average price is $10.61 and its 200 day moving average price is $10.75. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 0.76.
Hedge Funds Weigh In On Plains All American Pipeline
Large investors have recently made changes to their positions in the business. City State Bank bought a new position in Plains All American Pipeline during the fourth quarter valued at approximately $28,000. Farmers & Merchants Investments Inc. bought a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $34,000. Confluence Wealth Services Inc. bought a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $37,000. TCI Wealth Advisors Inc. bought a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $39,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $49,000. Institutional investors own 45.58% of the company’s stock.
Insider Buying and Selling
In other news, Director Kevin S. Mccarthy acquired 200,000 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The shares were acquired at an average price 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.
Plains All American Pipeline Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a $0.2175 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 8.00%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 378.26%.
About Plains All American Pipeline
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.
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