Plains All American Pipeline, L.P. (NYSE:PAA) Plans Quarterly Dividend of $0.38

Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Investors of record on Friday, January 31st will be given a dividend of 0.38 per share by the pipeline company on Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 8.12%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32.

Plains All American Pipeline has increased its dividend by an average of 20.8% annually over the last three years. Plains All American Pipeline has a dividend payout ratio of 86.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Plains All American Pipeline to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 91.4%.

Plains All American Pipeline Trading Up 6.2 %

Shares of NYSE PAA opened at $18.73 on Thursday. The firm has a market capitalization of $13.18 billion, a PE ratio of 16.72 and a beta of 1.64. Plains All American Pipeline has a one year low of $15.02 and a one year high of $19.17. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $17.48 and a two-hundred day moving average price of $17.66.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. As a group, analysts predict that Plains All American Pipeline will post 1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PAA. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target for the company. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and an average target price of $19.82.

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.