Plains All American Pipeline (NYSE:PAA) Announces Earnings Results

Plains All American Pipeline (NYSE:PAAGet Free Report) issued its quarterly earnings results on Friday. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06, MarketWatch Earnings reports. Plains All American Pipeline had a return on equity of 9.96% and a net margin of 2.28%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year.

Plains All American Pipeline Stock Up 0.3 %

PAA stock opened at $15.40 on Friday. Plains All American Pipeline has a fifty-two week low of $11.28 and a fifty-two week high of $16.36. The business’s 50 day moving average price is $15.36 and its two-hundred day moving average price is $15.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.84 and a current ratio of 0.95. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 11.08 and a beta of 1.59.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.3175 per share. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, January 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.25%. Plains All American Pipeline’s dividend payout ratio is 91.37%.

Insiders Place Their Bets

In other Plains All American Pipeline news, EVP Jeremy L. Goebel sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $15.58, for a total transaction of $545,300.00. Following the transaction, the executive vice president now owns 279,223 shares in the company, valued at approximately $4,350,294.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.75% of the company’s stock.

Institutional Trading of Plains All American Pipeline

A number of hedge funds have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC boosted its position in shares of Plains All American Pipeline by 109,124.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 46,409,609 shares of the pipeline company’s stock worth $545,777,000 after purchasing an additional 46,367,119 shares in the last quarter. Invesco Ltd. boosted its position in shares of Plains All American Pipeline by 38.9% in the 1st quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock worth $187,388,000 after purchasing an additional 4,880,244 shares in the last quarter. Morgan Stanley boosted its position in shares of Plains All American Pipeline by 41.3% in the 4th quarter. Morgan Stanley now owns 13,389,097 shares of the pipeline company’s stock worth $157,456,000 after purchasing an additional 3,915,370 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Plains All American Pipeline by 55.0% in the 1st quarter. JPMorgan Chase & Co. now owns 8,147,138 shares of the pipeline company’s stock worth $101,595,000 after purchasing an additional 2,892,097 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Plains All American Pipeline by 2.7% in the 1st quarter. Clearbridge Investments LLC now owns 7,317,092 shares of the pipeline company’s stock worth $78,732,000 after purchasing an additional 194,589 shares in the last quarter. 41.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PAA shares. StockNews.com raised Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. TD Securities boosted their target price on Plains All American Pipeline from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Royal Bank of Canada boosted their price target on Plains All American Pipeline from $15.00 to $17.00 and gave the company a “sector perform” rating in a report on Thursday, November 16th. Finally, Truist Financial boosted their price target on Plains All American Pipeline from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.90.

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About Plains All American Pipeline

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Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and Natural Gas Liquids (NGL). The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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Earnings History for Plains All American Pipeline (NYSE:PAA)

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