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

Plains All American Pipeline (NYSE:PAA) released its earnings results on Friday. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $13.09 billion. During the same period last year, the business earned $0.35 EPS. Plains All American Pipeline’s revenue for the quarter was up 5.6% on a year-over-year basis.

Plains All American Pipeline Price Performance

NYSE:PAA traded down $0.50 during trading hours on Friday, hitting $17.28. 5,878,533 shares of the stock were exchanged, compared to its average volume of 2,621,299. The firm’s fifty day moving average price is $17.39 and its 200 day moving average price 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 market cap of $12.11 billion, a P/E ratio of 15.71 and a beta of 1.61. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.35%. Plains All American Pipeline’s dividend payout ratio is currently 115.45%.

Analyst Upgrades and Downgrades

PAA has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 target price 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 research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Plains All American Pipeline presently has an average rating of “Hold” and an average price target 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.