Plains All American Pipeline Lp (NASDAQ:PAA) to Issue $0.42 Quarterly Dividend

Plains All American Pipeline Lp (NASDAQ:PAA) announced a quarterly dividend on Monday, July 6th. Stockholders of record on Friday, July 31st will be given a dividend of 0.4175 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Friday, July 31st.

Plains All American Pipeline has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 5 years. Plains All American Pipeline has a dividend payout ratio of 110.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Plains All American Pipeline to earn $1.65 per share next year, which means the company may not be able to cover its $1.67 annual dividend with an expected future payout ratio of 101.2%.

Plains All American Pipeline Price Performance

Shares of NASDAQ PAA traded up $0.56 during mid-day trading on Tuesday, reaching $22.82. The company’s stock had a trading volume of 195,372 shares, compared to its average volume of 3,254,940. The stock has a 50-day moving average of $22.45 and a two-hundred day moving average of $21.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. The stock has a market capitalization of $16.10 billion, a P/E ratio of 17.42, a P/E/G ratio of 10.32 and a beta of 0.50. Plains All American Pipeline has a 1-year low of $15.69 and a 1-year high of $24.26.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business had revenue of $12.47 billion for the quarter. During the same quarter in the previous year, the firm earned $0.39 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Plains All American Pipeline will post 1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new stake in Plains All American Pipeline in the third quarter valued at $87,462,000. Goldman Sachs Group Inc. increased its position in shares of Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares during the last quarter. BROOKFIELD Corp ON raised its holdings in Plains All American Pipeline by 428.2% in the 1st quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock valued at $82,430,000 after buying an additional 2,992,549 shares during the period. Morgan Stanley raised its holdings in Plains All American Pipeline by 40.2% in the 4th quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock valued at $177,467,000 after buying an additional 2,833,161 shares during the period. Finally, Berkley W R Corp acquired a new position in Plains All American Pipeline in the third quarter valued at about $32,871,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.