Plains All American Pipeline (NYSE:PAA) Releases FY 2019 Earnings Guidance

Plains All American Pipeline (NYSE:PAA) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.25-2.25 for the period, compared to the Thomson Reuters consensus estimate of $2.51.

A number of brokerages have recently issued reports on PAA. Royal Bank of Canada dropped their price target on Plains All American Pipeline to $27.00 and set a sector perform rating for the company in a research report on Friday, June 14th. Piper Jaffray Companies began coverage on Plains All American Pipeline in a research report on Wednesday, July 17th. They set an overweight rating and a $31.00 price target for the company. Stifel Nicolaus set a $25.00 price target on Plains All American Pipeline and gave the company a buy rating in a research report on Wednesday. ValuEngine cut Plains All American Pipeline from a sell rating to a strong sell rating in a report on Thursday, August 1st. Finally, Wolfe Research raised Plains All American Pipeline from a peer perform rating to an outperform rating in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $28.57.

Plains All American Pipeline stock traded down $0.57 during trading hours on Friday, reaching $21.82. The company had a trading volume of 2,057,799 shares, compared to its average volume of 2,180,365. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 1.02. The stock has a 50-day simple moving average of $24.11. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 11.61 and a beta of 1.00. Plains All American Pipeline has a 12-month low of $19.33 and a 12-month high of $27.70.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Tuesday, August 6th. The pipeline company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.23. The business had revenue of $8.25 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Plains All American Pipeline had a return on equity of 22.39% and a net margin of 9.48%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. Analysts anticipate that Plains All American Pipeline will post 2.3 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.44 dividend on an annualized basis and a yield of 6.60%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 76.60%.

In other news, insider Emg Investment, Llc sold 8,179,284 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total transaction of $188,941,460.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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Earnings History and Estimates for Plains All American Pipeline (NYSE:PAA)

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