Plains All American Pipeline (NYSE:PAA) Issues Earnings Results

Plains All American Pipeline (NYSE:PAA) issued its quarterly earnings data on Wednesday. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01, Briefing.com reports. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same quarter in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA traded down $0.14 during trading on Wednesday, reaching $16.30. 2,945,532 shares of the company traded hands, compared to its average volume of 3,415,625. The firm’s fifty day simple moving average is $16.96 and its 200 day simple moving average is $17.48. The stock has a market cap of $11.46 billion, a P/E ratio of 22.29 and a beta of 0.74. Plains All American Pipeline has a 12-month low of $15.57 and a 12-month high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.3%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 172.73%.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors have recently modified their holdings of the business. Quantinno Capital Management LP lifted its holdings in shares of Plains All American Pipeline by 3.4% during the 2nd quarter. Quantinno Capital Management LP now owns 31,233 shares of the pipeline company’s stock worth $572,000 after acquiring an additional 1,034 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Plains All American Pipeline by 93.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the pipeline company’s stock worth $78,000 after acquiring an additional 2,041 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of Plains All American Pipeline by 5.9% during the 2nd quarter. Guggenheim Capital LLC now owns 46,288 shares of the pipeline company’s stock worth $848,000 after acquiring an additional 2,592 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Plains All American Pipeline by 10.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 39,778 shares of the pipeline company’s stock worth $716,000 after acquiring an additional 3,648 shares during the period. Finally, HUB Investment Partners LLC increased its position in shares of Plains All American Pipeline by 5.6% during the 2nd quarter. HUB Investment Partners LLC now owns 91,113 shares of the pipeline company’s stock worth $1,669,000 after purchasing an additional 4,839 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on PAA shares. Scotiabank reaffirmed an “outperform” rating on shares of Plains All American Pipeline in a research note on Monday, September 8th. Wolfe Research reissued a “peer perform” rating on shares of Plains All American Pipeline in a research note on Friday, July 25th. Citigroup set a $18.00 price objective on Plains All American Pipeline and gave the stock a “neutral” rating in a research note on Friday, August 8th. Zacks Research raised Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. Finally, Barclays dropped their price objective on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Plains All American Pipeline presently has an average rating of “Hold” and a consensus price target of $20.55.

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.