Seaport Res Ptn Comments on Plains All American Pipeline, L.P.’s Q1 2024 Earnings (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) – Equities researchers at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for shares of Plains All American Pipeline in a report released on Sunday, April 28th. Seaport Res Ptn analyst S. Sibal anticipates that the pipeline company will post earnings of $0.31 per share for the quarter. The consensus estimate for Plains All American Pipeline’s current full-year earnings is $1.34 per share. Seaport Res Ptn also issued estimates for Plains All American Pipeline’s Q2 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.28 EPS, FY2024 earnings at $1.10 EPS, FY2025 earnings at $1.02 EPS, FY2026 earnings at $1.00 EPS and FY2027 earnings at $1.06 EPS.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the firm posted $0.33 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year.

PAA has been the subject of several other reports. Citigroup boosted their price target 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. Stifel Nicolaus boosted their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com upgraded Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 24th. Scotiabank assumed coverage on Plains All American Pipeline in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target for the company. Finally, The Goldman Sachs Group boosted their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.96.

Plains All American Pipeline Trading Down 1.7 %

Shares of Plains All American Pipeline stock opened at $16.93 on Wednesday. The business has a 50 day moving average price of $17.33 and a 200 day moving average price of $16.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The company has a market capitalization of $11.87 billion, a P/E ratio of 12.18 and a beta of 1.59. Plains All American Pipeline has a 1 year low of $12.07 and a 1 year high of $19.03.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.3175 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.50%. Plains All American Pipeline’s dividend payout ratio is currently 91.37%.

Institutional Trading of Plains All American Pipeline

Large investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new stake in Plains All American Pipeline in the 1st quarter valued at $28,000. CENTRAL TRUST Co grew its stake in shares of Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after acquiring an additional 1,700 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $39,000. Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter valued at about $46,000. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Plains All American Pipeline during the third quarter valued at about $58,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

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.