Plains All American Pipeline (NYSE:PAA) Issues Earnings Results

Plains All American Pipeline (NYSE:PAA - Get Free Report) posted its quarterly earnings data on Friday. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.06, Briefing.com reports. The company had revenue of $12.74 billion during the quarter, compared to analysts' expectations of $13.09 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS.

Plains All American Pipeline Trading Down 2.8 %

PAA stock traded down $0.50 during midday trading on Friday, reaching $17.28. 5,878,533 shares of the company's stock traded hands, compared to its average volume of 2,621,299. Plains All American Pipeline has a fifty-two week low of $14.46 and a fifty-two week high of $19.17. The business has a 50-day moving average price of $17.39 and a two-hundred day moving average price of $17.56. The company has a market capitalization of $12.11 billion, a P/E ratio of 15.71 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.3175 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.35%. Plains All American Pipeline's payout ratio is 115.45%.

Analyst Ratings Changes

PAA has been the topic of several recent research reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Morgan Stanley lowered 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 $19.00 in a research note on Friday, October 25th. Finally, Bank of America assumed coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a "neutral" rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Plains All American Pipeline has a consensus rating of "Hold" and an average price target of $19.82.

About Plains All American Pipeline

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.