$0.22 Earnings Per Share Expected for Plains All American Pipeline, L.P. (PAA) This Quarter

Equities analysts expect Plains All American Pipeline, L.P. (NYSE:PAA) to post $0.22 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Plains All American Pipeline, L.P.’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.18. Plains All American Pipeline, L.P. reported earnings of $0.39 per share during the same quarter last year, which suggests a negative year over year growth rate of 43.6%. The business is expected to report its next quarterly earnings report after the market closes on Monday, November 6th.

On average, analysts expect that Plains All American Pipeline, L.P. will report full-year earnings of $1.43 per share for the current year, with EPS estimates ranging from $1.36 to $1.49. For the next fiscal year, analysts forecast that the firm will post earnings of $1.52 per share, with EPS estimates ranging from $1.16 to $1.72. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Plains All American Pipeline, L.P..

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.50 billion. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS.

PAA has been the subject of several recent analyst reports. Scotiabank set a $36.00 price target on Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Mizuho upgraded Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, July 10th. Raymond James Financial, Inc. set a $24.00 price target on Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Barclays PLC restated a “buy” rating and issued a $28.00 price target on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, August 9th. Finally, Citigroup Inc. restated a “buy” rating and issued a $28.00 price target (down previously from $33.50) on shares of Plains All American Pipeline, L.P. in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Plains All American Pipeline, L.P. has an average rating of “Hold” and an average target price of $27.60.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.01%. The ex-dividend date is Monday, October 30th. Plains All American Pipeline, L.P.’s payout ratio is currently 165.41%.

A number of large investors have recently added to or reduced their stakes in the business. Trust Asset Management LLC grew its holdings in Plains All American Pipeline, L.P. by 56.9% during the third quarter. Trust Asset Management LLC now owns 570,771 shares of the pipeline company’s stock valued at $12,095,000 after purchasing an additional 206,954 shares during the period. Starr International Co. Inc. grew its holdings in Plains All American Pipeline, L.P. by 9.1% during the third quarter. Starr International Co. Inc. now owns 180,000 shares of the pipeline company’s stock valued at $3,814,000 after purchasing an additional 15,000 shares during the period. Syntal Capital Partners LLC grew its holdings in Plains All American Pipeline, L.P. by 34.7% during the third quarter. Syntal Capital Partners LLC now owns 10,733 shares of the pipeline company’s stock valued at $227,000 after purchasing an additional 2,764 shares during the period. Conning Inc. grew its holdings in Plains All American Pipeline, L.P. by 5.9% during the third quarter. Conning Inc. now owns 450,689 shares of the pipeline company’s stock valued at $9,550,000 after purchasing an additional 25,145 shares during the period. Finally, OLD National Bancorp IN bought a new stake in Plains All American Pipeline, L.P. during the third quarter valued at about $265,000. 41.75% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “$0.22 Earnings Per Share Expected for Plains All American Pipeline, L.P. (PAA) This Quarter” was published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright law. The correct version of this report can be read at https://www.com-unik.info/2017/11/01/0-22-earnings-per-share-expected-for-plains-all-american-pipeline-l-p-paa-this-quarter.html.

About Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Get a free copy of the Zacks research report on Plains All American Pipeline, L.P. (PAA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Plains All American Pipeline, L.P. (NYSE:PAA)

What are top analysts saying about Plains All American Pipeline L.P.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Plains All American Pipeline L.P. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit