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

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) declared a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Investors of record on Friday, January 31st will be given a dividend of 0.38 per share by the pipeline company on Friday, February 14th. This represents a $1.52 annualized dividend and a yield of 8.12%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.32.

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 dividend payout ratio of 86.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect Plains All American Pipeline to earn $1.39 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 91.4%.

Plains All American Pipeline Stock Up 6.2 %

NYSE:PAA traded up $1.10 on Wednesday, hitting $18.73. The stock had a trading volume of 9,165,552 shares, compared to its average volume of 5,155,436. Plains All American Pipeline has a 1 year low of $15.02 and a 1 year high of $19.17. The firm's fifty day simple moving average is $17.48 and its two-hundred day simple moving average is $17.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market cap of $13.18 billion, a P/E ratio of 16.72 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same period last year, the business posted $0.35 earnings per share. Plains All American Pipeline's revenue was up 5.6% on a year-over-year basis. Analysts predict that Plains All American Pipeline will post 1.24 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PAA. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Royal Bank of Canada reissued a "sector perform" rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Friday, November 15th. Bank of America assumed coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They set a "neutral" rating and a $18.00 price target on the stock. Finally, Morgan Stanley lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $19.82.

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.