Plains All American Pipeline, L.P. Declares Quarterly Dividend of $0.32 (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Wednesday, July 3rd, Wall Street Journal reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.3175 per share by the pipeline company on Wednesday, August 14th. This represents a $1.27 annualized dividend and a yield of 6.92%. The ex-dividend date is Wednesday, July 31st.

Plains All American Pipeline has increased its dividend payment by an average of 5.9% annually over the last three years. Plains All American Pipeline has a payout ratio of 84.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Plains All American Pipeline to earn $1.51 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 84.1%.

Plains All American Pipeline Trading Down 0.2 %

NYSE:PAA opened at $18.35 on Tuesday. Plains All American Pipeline has a one year low of $14.25 and a one year high of $19.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.88. The company’s 50-day simple moving average is $17.71 and its 200 day simple moving average is $17.15. The firm has a market capitalization of $12.86 billion, a P/E ratio of 12.85 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Plains All American Pipeline’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts forecast that Plains All American Pipeline will post 1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PAA shares. Wells Fargo & Company lifted their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Morgan Stanley lifted their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. StockNews.com cut shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. The Goldman Sachs Group boosted their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Citigroup boosted their price objective on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.55.

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.