Plains All American Pipeline (NYSE:PAA) Announces Earnings Results, Beats Estimates By $0.02 EPS

Plains All American Pipeline (NYSE:PAA) posted its quarterly earnings data on Friday. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year.

Plains All American Pipeline Stock Performance

NYSE:PAA opened at $17.49 on Monday. The firm has a market capitalization of $12.26 billion, a PE ratio of 12.23 and a beta of 1.58. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 1 year low of $12.07 and a 1 year high of $19.03. The firm’s fifty day simple moving average is $17.37 and its 200 day simple moving average is $16.15.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.26%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

Analysts Set New Price Targets

PAA has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. UBS Group upped their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, April 12th. The Goldman Sachs Group raised their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Citigroup upped their price objective on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Truist Financial lifted their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.