Brokerages Anticipate Plains All American Pipeline, L.P. (NYSE:PAA) Will Post Earnings of $0.27 Per Share

Wall Street brokerages expect that Plains All American Pipeline, L.P. (NYSE:PAA) will report earnings of $0.27 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Plains All American Pipeline’s earnings. The highest EPS estimate is $0.56 and the lowest is ($0.03). Plains All American Pipeline posted earnings per share of $0.67 during the same quarter last year, which would suggest a negative year over year growth rate of 59.7%. The company is expected to issue its next quarterly earnings report on Tuesday, August 4th.

According to Zacks, analysts expect that Plains All American Pipeline will report full-year earnings of ($3.28) per share for the current fiscal year, with EPS estimates ranging from ($3.86) to ($2.93). For the next year, analysts expect that the firm will post earnings of $1.27 per share, with EPS estimates ranging from $0.22 to $1.99. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Plains All American Pipeline.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.07. The firm had revenue of $8.27 billion during the quarter, compared to the consensus estimate of $8.83 billion. Plains All American Pipeline had a positive return on equity of 19.57% and a negative net margin of 4.90%.

A number of equities research analysts have recently weighed in on PAA shares. Royal Bank of Canada cut their price target on Plains All American Pipeline from $11.00 to $8.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 14th. SunTrust Banks cut their price target on Plains All American Pipeline from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Piper Sandler downgraded Plains All American Pipeline from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $21.00 to $14.00 in a research note on Monday, March 9th. Stifel Nicolaus downgraded Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, Mizuho cut their price target on Plains All American Pipeline from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Plains All American Pipeline presently has an average rating of “Hold” and an average target price of $16.17.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chevy Chase Trust Holdings Inc. acquired a new stake in Plains All American Pipeline in the 4th quarter valued at approximately $28,000. Islay Capital Management LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth approximately $64,000. Atlas Private Wealth Management acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth approximately $85,000. Archer Investment Corp acquired a new stake in shares of Plains All American Pipeline during the 4th quarter worth approximately $144,000. Finally, Bessemer Group Inc. acquired a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $50,000. 48.16% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline stock traded down $0.38 during mid-day trading on Monday, hitting $8.28. The company’s stock had a trading volume of 4,155,552 shares, compared to its average volume of 6,286,692. The firm’s 50 day moving average is $9.59 and its 200 day moving average is $12.18. The company has a market cap of $6.03 billion, a PE ratio of -3.26 and a beta of 2.38. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.86. Plains All American Pipeline has a 52-week low of $3.00 and a 52-week high of $25.26.

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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