Plains All American Pipeline, L.P. Declares Quarterly Dividend of $0.32 (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Shareholders of record on Wednesday, May 1st will be paid a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date is Tuesday, April 30th.

Plains All American Pipeline has increased its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Plains All American Pipeline has a dividend payout ratio of 92.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Plains All American Pipeline to earn $1.40 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 90.7%.

Plains All American Pipeline Trading Down 1.1 %

Shares of PAA stock opened at $17.87 on Friday. 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. The firm has a market capitalization of $12.53 billion, a PE ratio of 12.50 and a beta of 1.59. The stock has a fifty day simple moving average of $17.27 and a two-hundred day simple moving average of $16.08.

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 for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. On average, analysts predict that Plains All American Pipeline will post 1.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. UBS Group raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. StockNews.com upgraded Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Citigroup raised their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Scotiabank assumed coverage on Plains All American Pipeline in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Plains All American Pipeline currently has an average rating of “Moderate Buy” and an average target price of $18.96.

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.