Plains All American Pipeline, L.P. to Issue Quarterly Dividend of $0.32 (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 annualized dividend and a dividend yield of 7.11%. The ex-dividend date is Tuesday, April 30th.

Plains All American Pipeline has raised its dividend by an average of 5.9% per year over the last three years and has raised its dividend every year for the last 3 years. Plains All American Pipeline has a payout ratio of 92.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Plains All American Pipeline to earn $1.40 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 90.7%.

Plains All American Pipeline Trading Down 1.1 %

Shares of PAA stock opened at $17.87 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 12.50 and a beta of 1.59. The stock has a 50 day simple moving average of $17.27 and a 200-day simple moving average of $16.08. Plains All American Pipeline has a 1-year low of $12.07 and a 1-year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. On average, equities research analysts expect that Plains All American Pipeline will post 1.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com raised Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Stifel Nicolaus increased their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial increased their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. UBS Group increased their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Scotiabank assumed coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.96.

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.