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

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

Plains All American Pipeline has raised its dividend by an average of 5.9% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Plains All American Pipeline has a dividend payout ratio of 92.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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 Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The firm’s 50 day moving average price is $17.27 and its 200-day moving average price is $16.08. Plains All American Pipeline has a 52-week low of $12.07 and a 52-week high of $19.03. The company has a market cap of $12.53 billion, a PE ratio of 12.50 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. Sell-side analysts forecast that Plains All American Pipeline will post 1.34 EPS for the current fiscal year.

Analysts Set New Price Targets

PAA has been the subject of several recent analyst reports. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price for the company. StockNews.com upgraded shares of Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 24th. Truist Financial raised their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Citigroup lifted their price objective on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, UBS Group lifted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Moderate Buy” and an average target price of $18.96.

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.