Plains All American Pipeline (NYSE:PAA) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Plains All American Pipeline (NYSE:PAA) issued its earnings results on Friday. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06, Briefing.com reports. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the prior year, the firm posted $0.35 EPS. Plains All American Pipeline’s quarterly revenue was up 5.6% compared to the same quarter last year.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $17.28 on Friday. The firm’s fifty day moving average is $17.39 and its 200 day moving average is $17.56. Plains All American Pipeline has a 52-week low of $14.46 and a 52-week high of $19.17. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 15.71 and a beta of 1.61.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.35%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is presently 115.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PAA shares. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $19.00 in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.82.

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.