Plains All American Pipeline (NYSE:PAA) Issues Earnings Results, Beats Expectations By $0.06 EPS

Plains All American Pipeline (NYSE:PAAGet Free Report) issued its earnings results on Friday. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06, MarketWatch Earnings reports. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a return on equity of 9.96% and a net margin of 2.28%. Plains All American Pipeline’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $15.40 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The company has a market cap of $10.80 billion, a PE ratio of 10.77 and a beta of 1.59. The business has a 50 day moving average of $15.36 and a 200 day moving average of $15.29. Plains All American Pipeline has a 52 week low of $11.28 and a 52 week high of $16.36.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.25%. The ex-dividend date is Tuesday, January 30th. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.27. Plains All American Pipeline’s dividend payout ratio is currently 91.37%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PAA shares. Royal Bank of Canada upped their target price on Plains All American Pipeline from $15.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 16th. TD Securities boosted their price objective on Plains All American Pipeline from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, November 6th. StockNews.com upgraded Plains All American Pipeline from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. Finally, Truist Financial boosted their price objective on Plains All American Pipeline from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.90.

Check Out Our Latest Research Report on PAA

Insider Activity at Plains All American Pipeline

In related news, EVP Jeremy L. Goebel sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $15.58, for a total transaction of $545,300.00. Following the completion of the transaction, the executive vice president now owns 279,223 shares in the company, valued at $4,350,294.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plains All American Pipeline

A number of institutional investors have recently added to or reduced their stakes in PAA. Cambridge Investment Research Advisors Inc. bought a new position in Plains All American Pipeline in the first quarter worth $130,000. Cetera Advisor Networks LLC raised its holdings in Plains All American Pipeline by 45.5% in the first quarter. Cetera Advisor Networks LLC now owns 16,943 shares of the pipeline company’s stock worth $182,000 after purchasing an additional 5,296 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Plains All American Pipeline in the first quarter worth $181,000. Clearbridge Investments LLC grew its stake in shares of Plains All American Pipeline by 2.7% in the first quarter. Clearbridge Investments LLC now owns 7,317,092 shares of the pipeline company’s stock worth $78,732,000 after acquiring an additional 194,589 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Plains All American Pipeline by 38.9% in the first quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after acquiring an additional 4,880,244 shares during the last quarter. Institutional investors own 41.13% of the company’s stock.

Plains All American Pipeline Company Profile

(Get Free Report)

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 in two segments, Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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

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