Plains All American Pipeline, L.P. (NYSE:PAA) to Post Q3 2019 Earnings of $0.41 Per Share, Seaport Global Securities Forecasts

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Plains All American Pipeline, L.P. (NYSE:PAA) – Equities researchers at Seaport Global Securities raised their Q3 2019 earnings estimates for shares of Plains All American Pipeline in a research note issued to investors on Wednesday, October 16th. Seaport Global Securities analyst S. Sibal now anticipates that the pipeline company will post earnings per share of $0.41 for the quarter, up from their prior estimate of $0.39.

A number of other equities research analysts have also recently issued reports on PAA. Stifel Nicolaus set a $25.00 target price on shares of Plains All American Pipeline and gave the company a “buy” rating in a report on Wednesday, August 7th. Scotia Howard Weill started coverage on shares of Plains All American Pipeline in a report on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 target price on the stock. ValuEngine raised shares of Plains All American Pipeline from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Barclays reissued a “hold” rating and set a $24.00 target price on shares of Plains All American Pipeline in a report on Wednesday, October 16th. Finally, Scotiabank started coverage on shares of Plains All American Pipeline in a report on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $27.20.

Shares of PAA stock opened at $19.32 on Monday. The company’s fifty day simple moving average is $20.57 and its two-hundred day simple moving average is $22.83. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 0.87. Plains All American Pipeline has a 1 year low of $18.60 and a 1 year high of $25.27. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 10.28 and a beta of 1.02.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Tuesday, August 6th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.23. Plains All American Pipeline had a net margin of 9.48% and a return on equity of 21.81%. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter in the previous year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heritage Wealth Advisors grew its position in shares of Plains All American Pipeline by 1.4% during the 2nd quarter. Heritage Wealth Advisors now owns 47,700 shares of the pipeline company’s stock valued at $1,161,000 after purchasing an additional 658 shares in the last quarter. Moors & Cabot Inc. grew its position in shares of Plains All American Pipeline by 1.0% during the 2nd quarter. Moors & Cabot Inc. now owns 65,912 shares of the pipeline company’s stock valued at $1,607,000 after purchasing an additional 674 shares in the last quarter. Paragon Capital Management LLC grew its position in shares of Plains All American Pipeline by 136.0% during the 2nd quarter. Paragon Capital Management LLC now owns 1,416 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 816 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Plains All American Pipeline by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 31,731 shares of the pipeline company’s stock valued at $773,000 after purchasing an additional 999 shares in the last quarter. Finally, Advisor Group Inc. grew its position in shares of Plains All American Pipeline by 10.1% during the 2nd quarter. Advisor Group Inc. now owns 11,868 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 1,092 shares in the last quarter. Hedge funds and other institutional investors own 50.37% of the company’s stock.

In other news, VP Chris Herbold sold 23,337 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $21.38, for a total transaction of $498,945.06. Following the completion of the transaction, the vice president now directly owns 79,564 shares in the company, valued at approximately $1,701,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.45%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 76.60%.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

Read More: Equity Income

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

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