Plains All American Pipeline, L.P. (NYSE:PAA) – Investment analysts at SunTrust Banks lowered their Q2 2019 earnings per share (EPS) estimates for shares of Plains All American Pipeline in a research report issued to clients and investors on Tuesday, July 16th. SunTrust Banks analyst T. Richardson now anticipates that the pipeline company will post earnings per share of $0.35 for the quarter, down from their previous estimate of $0.41. SunTrust Banks also issued estimates for Plains All American Pipeline’s Q3 2019 earnings at $0.39 EPS and Q4 2019 earnings at $0.48 EPS.
Several other brokerages have also issued reports on PAA. Wolfe Research lowered shares of Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price objective on the stock. in a report on Thursday, June 13th. Royal Bank of Canada restated an “equal weight” rating on shares of Lululemon Athletica in a report on Friday, June 14th. Finally, Piper Jaffray Companies reduced their price objective on shares of Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $28.73.
Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Tuesday, May 7th. The pipeline company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.77 billion. Plains All American Pipeline had a net margin of 8.51% and a return on equity of 20.70%. Plains All American Pipeline’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.44 dividend on an annualized basis and a yield of 5.88%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 76.60%.
In other Plains All American Pipeline news, insider Emg Investment, Llc sold 8,179,284 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total transaction of $188,941,460.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of PAA. Chickasaw Capital Management LLC increased its stake in Plains All American Pipeline by 36.7% during the first quarter. Chickasaw Capital Management LLC now owns 8,212,010 shares of the pipeline company’s stock worth $201,276,000 after purchasing an additional 2,205,531 shares during the period. Bank of Montreal Can grew its position in shares of Plains All American Pipeline by 30.4% during the first quarter. Bank of Montreal Can now owns 7,168,945 shares of the pipeline company’s stock worth $175,711,000 after buying an additional 1,671,285 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Plains All American Pipeline by 9.8% during the first quarter. CIBC Private Wealth Group LLC now owns 7,987,029 shares of the pipeline company’s stock worth $195,762,000 after buying an additional 712,077 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Plains All American Pipeline by 39.8% during the first quarter. Parametric Portfolio Associates LLC now owns 1,454,612 shares of the pipeline company’s stock worth $35,653,000 after buying an additional 414,482 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Plains All American Pipeline during the first quarter worth about $8,245,000. Institutional investors own 48.43% of the company’s stock.
Plains All American Pipeline Company Profile
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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