Plains All American Pipeline, L.P. (NYSE:PAA) Declares $0.38 Quarterly Dividend

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) announced a quarterly dividend on Wednesday, April 2nd, Wall Street Journal reports. Shareholders of record on Thursday, May 1st will be given a dividend of 0.38 per share by the pipeline company on Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 9.48%. The ex-dividend date is Thursday, May 1st.

Plains All American Pipeline has raised its dividend by an average of 20.8% per year over the last three years. Plains All American Pipeline has a payout ratio of 97.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research analysts expect Plains All American Pipeline to earn $1.52 per share next year, which means the company may not be able to cover its $1.52 annual dividend with an expected future payout ratio of 100.0%.

Plains All American Pipeline Stock Performance

Shares of PAA traded down $0.44 during trading hours on Tuesday, reaching $16.03. 7,021,301 shares of the company traded hands, compared to its average volume of 3,115,815. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average price of $19.82 and a 200-day moving average price of $18.50. Plains All American Pipeline has a 12-month low of $15.85 and a 12-month high of $21.00. The stock has a market capitalization of $11.28 billion, a P/E ratio of 21.96 and a beta of 1.17.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PAA. Raymond James increased their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 28th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Wolfe Research upgraded shares of Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Morgan Stanley raised their target price on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 25th. Finally, Barclays raised their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.23.

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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.