Plains All American Pipeline (NYSE:PAA) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Plains All American Pipeline (NYSE:PAA) announced its earnings results on Wednesday. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the company posted $0.37 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis.

Plains All American Pipeline Price Performance

NYSE PAA traded down $0.20 during trading hours on Wednesday, reaching $16.24. The company’s stock had a trading volume of 1,932,028 shares, compared to its average volume of 3,411,177. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 22.24 and a beta of 0.74. Plains All American Pipeline has a 1-year low of $15.57 and a 1-year high of $21.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The company’s 50-day moving average is $16.96 and its two-hundred day moving average is $17.48.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 9.4%. Plains All American Pipeline’s dividend payout ratio is presently 172.73%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PAA shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. Barclays dropped their price target 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. Zacks Research upgraded Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. UBS Group set a $25.00 price target on Plains All American Pipeline and gave the company a “buy” rating in a research note on Tuesday, July 15th. Finally, Citigroup set a $18.00 target price on Plains All American Pipeline and gave the stock a “neutral” rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.55.

Hedge Funds Weigh In On Plains All American Pipeline

Large investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $260,000. Guggenheim Capital LLC lifted its position in shares of Plains All American Pipeline by 5.9% in the second quarter. Guggenheim Capital LLC now owns 46,288 shares of the pipeline company’s stock valued at $848,000 after acquiring an additional 2,592 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Plains All American Pipeline by 4.1% in the second quarter. First Trust Advisors LP now owns 404,921 shares of the pipeline company’s stock valued at $7,418,000 after acquiring an additional 16,096 shares in the last quarter. Glenview Trust co purchased a new position in shares of Plains All American Pipeline in the second quarter valued at approximately $404,000. Finally, HUB Investment Partners LLC lifted its position in shares of Plains All American Pipeline by 5.6% in the second quarter. HUB Investment Partners LLC now owns 91,113 shares of the pipeline company’s stock valued at $1,669,000 after acquiring an additional 4,839 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.