Plains All American Pipeline, L.P. (PAA) to Issue $0.30 Quarterly Dividend
Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Wednesday, January 10th, Wall Street Journal reports. Shareholders of record on Wednesday, January 31st will be paid a dividend of 0.30 per share by the pipeline company on Wednesday, February 14th. This represents a $1.20 annualized dividend and a yield of 5.16%. The ex-dividend date is Tuesday, January 30th.
Plains All American Pipeline has decreased its dividend by an average of 8.6% annually over the last three years. Plains All American Pipeline has a payout ratio of 105.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Plains All American Pipeline to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 82.8%.
Shares of Plains All American Pipeline (NYSE PAA) traded up $0.30 during trading on Thursday, reaching $23.27. 764,378 shares of the company’s stock traded hands, compared to its average volume of 3,170,300. The company has a current ratio of 1.00, a quick ratio of 0.78 and a debt-to-equity ratio of 1.20. Plains All American Pipeline has a one year low of $18.38 and a one year high of $33.01. The company has a market cap of $16,690.00, a PE ratio of 27.05 and a beta of 1.00.
Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Monday, November 6th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Plains All American Pipeline had a return on equity of 9.06% and a net margin of 3.22%. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $6.24 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. research analysts predict that Plains All American Pipeline will post 1.14 earnings per share for the current year.
In other news, VP Chris Herbold sold 10,171 shares of Plains All American Pipeline stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $20.25, for a total transaction of $205,962.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.
Several research analysts have issued reports on PAA shares. Jefferies Group reiterated a “buy” rating and set a $23.00 target price on shares of Plains All American Pipeline in a report on Monday, October 16th. Zacks Investment Research cut shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Robert W. Baird reiterated a “hold” rating and set a $21.00 target price on shares of Plains All American Pipeline in a report on Friday, November 10th. BMO Capital Markets set a $25.00 target price on shares of Plains All American Pipeline and gave the stock a “buy” rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus increased their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.42.
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Plains All American Pipeline Company Profile
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.
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