Plains All American Pipeline, L.P. (PAA) To Go Ex-Dividend on January 31st

Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Tuesday, January 7th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 8.12%. The ex-dividend date is Friday, January 31st. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32.

Plains All American Pipeline has increased its dividend payment by an average of 20.8% per year over the last three years. Plains All American Pipeline has a payout ratio of 86.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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 traded up $1.10 during trading on Thursday, reaching $18.73. The company had a trading volume of 9,165,552 shares, compared to its average volume of 5,155,436. The company’s fifty day moving average price is $17.48 and its 200-day moving average price is $17.66. Plains All American Pipeline has a 12 month low of $15.02 and a 12 month high of $19.17. The stock has a market cap of $13.18 billion, a P/E ratio of 16.72 and a beta of 1.64. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same period last year, the business earned $0.35 EPS. The business’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts expect that Plains All American Pipeline will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

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

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.