Plains All American Pipeline, L.P. (NYSE:PAA) Plans $0.38 Quarterly Dividend

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Thursday, May 1st will be given a dividend of 0.38 per share by the pipeline company on Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend is Thursday, May 1st.

Plains All American Pipeline has increased its dividend by an average of 20.8% annually over the last three years. Plains All American Pipeline has a payout ratio of 97.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Plains All American Pipeline to earn $1.52 per share next year, which means the company may not be able to cover its $1.52 annual dividend with an expected future payout ratio of 100.0%.

Plains All American Pipeline Price Performance

NYSE PAA traded down $1.04 during trading on Thursday, hitting $19.24. 5,303,703 shares of the company’s stock were exchanged, compared to its average volume of 3,068,327. The stock’s 50 day moving average price is $19.98 and its two-hundred day moving average price is $18.50. Plains All American Pipeline has a fifty-two week low of $16.21 and a fifty-two week high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market cap of $13.54 billion, a PE ratio of 26.35 and a beta of 1.62.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PAA shares. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th. Morgan Stanley boosted their price objective on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 25th. Raymond James increased their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays boosted their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Hold” and a consensus target price of $20.23.

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.