Plains All American Pipeline, L.P. (PAA) To Go Ex-Dividend on April 30th

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Investors of record on Wednesday, May 1st will be paid a dividend of 0.3175 per share by the pipeline company on Wednesday, May 15th. This represents a $1.27 annualized dividend and a dividend yield of 7.11%. The ex-dividend date is Tuesday, April 30th.

Plains All American Pipeline has raised its dividend payment by an average of 5.9% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Plains All American Pipeline has a dividend payout ratio of 92.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Plains All American Pipeline to earn $1.40 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 90.7%.

Plains All American Pipeline Price Performance

NYSE:PAA opened at $17.87 on Friday. The company has a market capitalization of $12.53 billion, a P/E ratio of 12.50 and a beta of 1.59. The business’s 50-day moving average is $17.27 and its 200 day moving average is $16.08. Plains All American Pipeline has a 12 month low of $12.07 and a 12 month high of $19.03. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm 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 10.48% and a net margin of 2.39%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. On average, equities research analysts forecast that Plains All American Pipeline will post 1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PAA has been the topic of a number of analyst reports. Scotiabank initiated coverage on Plains All American Pipeline in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price on the stock. The Goldman Sachs Group raised their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Friday, April 12th. UBS Group raised their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Stifel Nicolaus raised their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Citigroup lifted their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.96.

Plains All American Pipeline Company Profile

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.