Plains All American Pipeline, L.P. (PAA) To Go Ex-Dividend on May 1st

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Wednesday, April 2nd, Wall Street Journal reports. Shareholders of record on Thursday, May 1st will be given a dividend of 0.38 per share by the pipeline company on Thursday, May 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date is Thursday, May 1st.

Plains All American Pipeline has raised its dividend by an average of 20.8% per year over the last three years. Plains All American Pipeline has a dividend payout ratio of 98.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Plains All American Pipeline to earn $1.52 per share next year, which means the company may not be able to cover its $1.52 annual dividend with an expected future payout ratio of 100.0%.

Plains All American Pipeline Stock Up 0.2 %

PAA opened at $18.31 on Tuesday. Plains All American Pipeline has a twelve month low of $15.58 and a twelve month high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of $18.91 and a 200-day moving average price of $18.46. The stock has a market capitalization of $12.89 billion, a price-to-earnings ratio of 25.08 and a beta of 1.17.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PAA. Barclays reduced their price objective on shares of Plains All American Pipeline from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, March 25th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Raymond James increased their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Scotiabank decreased their target price on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.36.

Plains All American Pipeline Company Profile

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.