Plains All American Pipeline, L.P. (NYSE:PAA) – Equities researchers at Jefferies Financial Group lowered their Q4 2018 earnings per share estimates for shares of Plains All American Pipeline in a research report issued on Monday, January 28th. Jefferies Financial Group analyst C. Sighinolfi now anticipates that the pipeline company will post earnings per share of $0.53 for the quarter, down from their prior estimate of $0.54. Jefferies Financial Group currently has a “Buy” rating on the stock. Jefferies Financial Group also issued estimates for Plains All American Pipeline’s Q2 2019 earnings at $0.35 EPS.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Citigroup lowered their price objective on shares of Plains All American Pipeline from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. ValuEngine cut shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. TheStreet upgraded shares of Plains All American Pipeline from a “c+” rating to a “b-” rating in a research note on Wednesday, November 7th. Finally, Mizuho began coverage on shares of Plains All American Pipeline in a research report on Wednesday, November 28th. They set a “buy” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. Plains All American Pipeline currently has an average rating of “Buy” and an average target price of $28.13.
Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. Plains All American Pipeline had a return on equity of 14.72% and a net margin of 3.92%. The business had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the prior year, the business posted $0.21 earnings per share. Plains All American Pipeline’s quarterly revenue was up 49.7% on a year-over-year basis.
Several large investors have recently modified their holdings of the company. FMR LLC lifted its position in Plains All American Pipeline by 145.2% during the 2nd quarter. FMR LLC now owns 517,079 shares of the pipeline company’s stock worth $12,224,000 after acquiring an additional 306,179 shares in the last quarter. Clinton Group Inc. acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at $445,000. Lau Associates LLC purchased a new stake in shares of Plains All American Pipeline during the third quarter valued at $915,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Plains All American Pipeline by 2.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 1,072,200 shares of the pipeline company’s stock valued at $26,816,000 after purchasing an additional 27,100 shares during the last quarter. Finally, Chickasaw Capital Management LLC lifted its stake in Plains All American Pipeline by 1.9% in the 3rd quarter. Chickasaw Capital Management LLC now owns 6,151,434 shares of the pipeline company’s stock worth $153,847,000 after acquiring an additional 113,603 shares in the last quarter. Institutional investors and hedge funds own 47.24% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend is Wednesday, January 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.66%.
About Plains All American Pipeline
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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