Zacks: Analysts Anticipate Plains All American Pipeline, L.P. (NYSE:PAA) to Post $0.49 Earnings Per Share

Equities analysts predict that Plains All American Pipeline, L.P. (NYSE:PAA) will report $0.49 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Plains All American Pipeline’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.59. Plains All American Pipeline posted earnings of $0.80 per share during the same quarter last year, which suggests a negative year over year growth rate of 38.8%. The firm is scheduled to report its next earnings report after the market closes on Tuesday, February 4th.

On average, analysts expect that Plains All American Pipeline will report full year earnings of $2.74 per share for the current financial year, with EPS estimates ranging from $2.67 to $2.79. For the next financial year, analysts forecast that the company will post earnings of $1.75 per share, with EPS estimates ranging from $1.19 to $2.09. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Plains All American Pipeline.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. Plains All American Pipeline had a net margin of 8.95% and a return on equity of 21.05%. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis.

PAA has been the subject of a number of recent research reports. Robert W. Baird upgraded shares of Plains All American Pipeline from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $22.00 to $21.00 in a research note on Monday, December 2nd. Barclays upgraded shares of Plains All American Pipeline from an “equal weight” rating to an “overweight” rating and set a $24.00 price objective for the company in a research report on Tuesday, January 14th. TheStreet downgraded shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reduced their price objective on shares of Plains All American Pipeline from $26.00 to $20.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 11th. Finally, Bank of America reduced their price objective on shares of Plains All American Pipeline from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.17.

Plains All American Pipeline stock traded up $0.10 during trading on Monday, reaching $18.99. The stock had a trading volume of 3,020,411 shares, compared to its average volume of 3,459,559. Plains All American Pipeline has a 52-week low of $16.77 and a 52-week high of $25.27. The business has a 50 day moving average price of $18.32 and a 200 day moving average price of $20.30. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 0.88. The stock has a market cap of $13.83 billion, a PE ratio of 5.17 and a beta of 1.02.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.36 dividend. The ex-dividend date is Thursday, January 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.58%. Plains All American Pipeline’s payout ratio is 76.60%.

Several institutional investors have recently made changes to their positions in the company. Arlington Partners LLC acquired a new position in shares of Plains All American Pipeline in the 4th quarter valued at $30,000. Chickasaw Capital Management LLC boosted its position in Plains All American Pipeline by 8.9% during the fourth quarter. Chickasaw Capital Management LLC now owns 10,299,440 shares of the pipeline company’s stock worth $189,407,000 after purchasing an additional 844,656 shares during the period. Lake Street Financial LLC boosted its position in Plains All American Pipeline by 25.1% during the fourth quarter. Lake Street Financial LLC now owns 84,600 shares of the pipeline company’s stock worth $1,556,000 after purchasing an additional 16,950 shares during the period. Sanders Morris Harris LLC boosted its position in Plains All American Pipeline by 8.2% during the fourth quarter. Sanders Morris Harris LLC now owns 13,245 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 1,000 shares during the period. Finally, Evoke Wealth LLC bought a new stake in Plains All American Pipeline during the third quarter worth approximately $170,000. 52.25% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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Earnings History and Estimates for Plains All American Pipeline (NYSE:PAA)

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