Plains All American Pipeline, L.P. (PAA) To Go Ex-Dividend on April 30th

Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend is Tuesday, April 30th.

Plains All American Pipeline has increased its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend every year for the last 3 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. 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

Plains All American Pipeline stock opened at $17.87 on Friday. Plains All American Pipeline has a 52 week low of $12.07 and a 52 week high of $19.03. The business has a 50-day simple moving average of $17.27 and a 200 day simple moving average of $16.08. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 12.50 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. 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. On average, research analysts forecast that Plains All American Pipeline will post 1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PAA. Truist Financial lifted their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group boosted their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Scotiabank began coverage on 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. UBS Group boosted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, StockNews.com raised Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus 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.