Plains All American Pipeline, L.P. Forecasted to Post FY2023 Earnings of $1.26 Per Share (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAAGet Rating) – Research analysts at Seaport Res Ptn lifted their FY2023 EPS estimates for shares of Plains All American Pipeline in a report released on Monday, August 1st. Seaport Res Ptn analyst S. Sibal now expects that the pipeline company will post earnings of $1.26 per share for the year, up from their prior forecast of $1.25. 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.

PAA has been the topic of a number of other reports. Bank of America raised shares of Plains All American Pipeline from an “underperform” rating to a “neutral” rating and set a $12.00 price objective on the stock in a report on Tuesday, July 19th. Barclays cut their price target on shares of Plains All American Pipeline from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 20th. Mizuho boosted their price target on shares of Plains All American Pipeline from $13.00 to $14.00 in a report on Wednesday, May 11th. Wolfe Research downgraded shares of Plains All American Pipeline from an “outperform” rating to a “peer perform” rating in a report on Monday, August 1st. Finally, Credit Suisse Group raised shares of Plains All American Pipeline from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $13.00 to $14.00 in a report on Thursday, May 12th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.18.

Plains All American Pipeline Price Performance

PAA opened at $11.20 on Thursday. 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 market capitalization of $7.90 billion, a price-to-earnings ratio of 13.66 and a beta of 1.79. The firm’s fifty day moving average price is $10.60 and its two-hundred day moving average price is $10.75. Plains All American Pipeline has a 1 year low of $8.64 and a 1 year high of $12.10.

Plains All American Pipeline (NYSE:PAAGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.14. Plains All American Pipeline had a net margin of 1.36% and a return on equity of 9.77%. During the same quarter in the prior year, the business posted $0.23 EPS.

Plains All American Pipeline Dividend Announcement

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 paid a $0.2175 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date is Thursday, July 28th. Plains All American Pipeline’s dividend payout ratio is currently 106.10%.

Insider Activity at Plains All American Pipeline

In related news, Director Kevin S. Mccarthy purchased 200,000 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The shares were purchased at an average cost of $9.81 per share, for a total transaction of $1,962,000.00. Following the completion of the transaction, the director now directly owns 200,000 shares in the company, valued at approximately $1,962,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. increased its position in shares of Plains All American Pipeline by 1.7% during the fourth quarter. Alps Advisors Inc. now owns 52,505,872 shares of the pipeline company’s stock valued at $490,405,000 after buying an additional 880,660 shares during the period. Invesco Ltd. increased its position in shares of Plains All American Pipeline by 38.9% in the first quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after purchasing an additional 4,880,244 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Plains All American Pipeline by 5.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 9,803,725 shares of the pipeline company’s stock worth $91,566,000 after purchasing an additional 467,834 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Plains All American Pipeline by 5.7% in the second quarter. Kayne Anderson Capital Advisors LP now owns 9,079,150 shares of the pipeline company’s stock worth $89,157,000 after purchasing an additional 492,500 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Plains All American Pipeline by 21.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,563,414 shares of the pipeline company’s stock worth $84,093,000 after purchasing an additional 1,520,490 shares during the last quarter. 45.58% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

(Get Rating)

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.

See Also

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

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