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

Plains All American Pipeline (NYSE:PAA) released its earnings results on Friday. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02, Briefing.com reports. The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $17.49 on Monday. The firm’s 50 day moving average price is $17.37 and its two-hundred day moving average price is $16.15. The stock has a market cap of $12.26 billion, a PE ratio of 12.23 and a beta of 1.58. Plains All American Pipeline has a 52-week low of $12.07 and a 52-week high of $19.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98.

Plains All American Pipeline Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PAA shares. Truist Financial upped their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. UBS Group upped their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target for the company. Citigroup lifted their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus increased their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Plains All American Pipeline has an average rating of “Moderate Buy” and an average 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.