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

Plains All American Pipeline (NYSE:PAA) issued its quarterly earnings data on Friday. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02, Briefing.com reports. The company had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $17.49 on Monday. Plains All American Pipeline has a 1 year low of $12.07 and a 1 year high of $19.03. 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 stock’s fifty day moving average price is $17.37 and its two-hundred day moving average price is $16.15. The firm has a market cap of $12.26 billion, a PE ratio of 12.23 and a beta of 1.58.

Plains All American Pipeline Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Scotiabank initiated coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 price target for the company. Truist Financial boosted their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. The Goldman Sachs Group increased their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Friday, April 12th. Citigroup boosted their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, StockNews.com downgraded Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and an average price target 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.