FY2024 Earnings Estimate for PAA Issued By Seaport Res Ptn

Plains All American Pipeline, L.P. (NYSE:PAA - Free Report) - Stock analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for Plains All American Pipeline in a research report issued on Tuesday, October 29th. Seaport Res Ptn analyst S. Sibal now anticipates that the pipeline company will post earnings per share of $1.27 for the year, up from their previous estimate of $1.26. The consensus estimate for Plains All American Pipeline's current full-year earnings is $1.31 per share. Seaport Res Ptn also issued estimates for Plains All American Pipeline's Q4 2024 earnings at $0.31 EPS.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The firm had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company's revenue was up 11.5% on a year-over-year basis.

Several other analysts also recently weighed in on PAA. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $19.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. UBS Group lifted their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, July 2nd. Bank of America initiated coverage on shares of 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 downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.82.

Plains All American Pipeline Trading Up 0.1 %

Shares of Plains All American Pipeline stock traded up $0.02 on Wednesday, hitting $16.77. 2,839,633 shares of the company traded hands, compared to its average volume of 2,680,046. The stock's 50 day moving average price is $17.51 and its 200-day moving average price is $17.60. 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 has a 52 week low of $14.46 and a 52 week high of $19.17. The company has a market cap of $11.76 billion, a PE ratio of 15.23 and a beta of 1.60.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PAA. Acadian Asset Management LLC raised its position in shares of Plains All American Pipeline by 114.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company's stock worth $34,081,000 after purchasing an additional 1,020,277 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Plains All American Pipeline by 69.4% during the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company's stock valued at $32,044,000 after acquiring an additional 747,852 shares in the last quarter. Blackstone Inc. grew its stake in Plains All American Pipeline by 1.4% during the 1st quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company's stock valued at $413,345,000 after acquiring an additional 318,944 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Plains All American Pipeline by 241.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company's stock valued at $7,813,000 after acquiring an additional 317,927 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Plains All American Pipeline during the 1st quarter valued at about $4,420,000. Institutional investors and hedge funds own 41.78% of the company's stock.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.3175 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.57%. Plains All American Pipeline's dividend payout ratio (DPR) is currently 115.45%.

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.