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

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

Plains All American Pipeline has raised 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. Equities 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 Stock Performance

Shares of Plains All American Pipeline stock opened at $17.87 on Monday. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 12.50 and a beta of 1.59. The business has a 50-day simple moving average of $17.27 and a 200 day simple moving average of $16.08. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period in the previous year, the company posted $0.33 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts anticipate that Plains All American Pipeline will post 1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Stifel Nicolaus boosted their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the stock 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 research note on Wednesday, April 24th. The Goldman Sachs Group boosted their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. Citigroup boosted their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, UBS Group boosted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.