Plains All American Pipeline, L.P. (NYSE:PAA) Announces Quarterly Dividend of $0.18

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Wednesday, April 7th, Wall Street Journal reports. Investors of record on Friday, April 30th will be given a dividend of 0.18 per share by the pipeline company on Friday, May 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date is Thursday, April 29th.

Plains All American Pipeline has decreased its dividend payment by 53.9% over the last three years.

Shares of PAA traded up $0.22 during trading hours on Wednesday, reaching $9.36. The stock had a trading volume of 3,298,729 shares, compared to its average volume of 5,172,542. The firm has a 50-day moving average of $9.13 and a 200 day moving average of $8.24. The company has a market cap of $6.76 billion, a P/E ratio of -2.71 and a beta of 2.22. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.24. Plains All American Pipeline has a 52 week low of $5.19 and a 52 week high of $12.35.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Monday, February 8th. The pipeline company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.42). The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $7.23 billion. Plains All American Pipeline had a positive return on equity of 19.02% and a negative net margin of 8.71%. As a group, equities analysts expect that Plains All American Pipeline will post 1.53 earnings per share for the current year.

A number of research firms have issued reports on PAA. Mizuho lowered their target price on Plains All American Pipeline from $14.00 to $12.00 in a report on Thursday, February 11th. Morgan Stanley restated an “equal weight” rating on shares of Plains All American Pipeline in a research note on Monday, March 29th. Wolfe Research restated a “peer perform” rating and set a $10.00 price objective on shares of Plains All American Pipeline in a research note on Wednesday, March 17th. Raymond James reduced their price objective on shares of Plains All American Pipeline from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 10th. Finally, Barclays reduced their price objective on shares of Plains All American Pipeline from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Friday, March 19th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $19.17.

About Plains All American Pipeline

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

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Dividend History for Plains All American Pipeline (NYSE:PAA)

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