Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Wednesday, October 11th, Wall Street Journal reports. Investors of record on Tuesday, October 31st will be paid a dividend of 0.30 per share by the pipeline company on Tuesday, November 14th. This represents a $1.20 annualized dividend and a yield of 5.56%. The ex-dividend date is Monday, October 30th.

Plains All American Pipeline, L.P. has raised its dividend by an average of 4.5% annually over the last three years. Plains All American Pipeline, L.P. has a dividend payout ratio of 151.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Plains All American Pipeline, L.P. to earn $1.61 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 136.6%.

Shares of Plains All American Pipeline, L.P. (PAA) traded up 0.84% during mid-day trading on Wednesday, reaching $21.60. The company had a trading volume of 1,865,509 shares. Plains All American Pipeline, L.P. has a 52-week low of $18.82 and a 52-week high of $33.95. The company’s 50-day moving average price is $21.42 and its 200-day moving average price is $25.43. The company has a market capitalization of $15.65 billion, a PE ratio of 16.67 and a beta of 0.98.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.05). The company had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) EPS. On average, analysts forecast that Plains All American Pipeline, L.P. will post $1.53 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/10/11/plains-all-american-pipeline-l-p-paa-announces-0-30-quarterly-dividend.html.

A number of research analysts have recently commented on PAA shares. UBS AG raised shares of Plains All American Pipeline, L.P. from an “outperform” rating to a “strong-buy” rating in a research report on Monday, August 28th. Mizuho raised shares of Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, July 10th. Raymond James Financial, Inc. raised shares of Plains All American Pipeline, L.P. from an “outperform” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, August 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $28.00 price objective (up previously from $27.00) on shares of Plains All American Pipeline, L.P. in a research report on Friday, July 21st. Finally, Bank of America Corporation cut their price objective on shares of Plains All American Pipeline, L.P. from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Monday, August 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Plains All American Pipeline, L.P. has a consensus rating of “Hold” and an average target price of $28.24.

About Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Dividend History for Plains All American Pipeline, L.P. (NYSE:PAA)

Receive News & Stock Ratings for Plains All American Pipeline L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline L.P. and related stocks with our FREE daily email newsletter.