Plains All American Pipeline (NYSE:PAA) Releases Earnings Results, Misses Estimates By $0.02 EPS

Plains All American Pipeline (NYSE:PAA) posted its quarterly earnings results on Friday. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02), Briefing.com reports. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year.

Plains All American Pipeline Trading Down 3.2 %

Shares of NYSE PAA traded down $0.58 during midday trading on Friday, reaching $17.42. The stock had a trading volume of 4,580,684 shares, compared to its average volume of 2,018,039. Plains All American Pipeline has a twelve month low of $14.25 and a twelve month high of $19.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97. The company’s 50 day moving average price is $17.78 and its 200 day moving average price is $17.20. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 15.02 and a beta of 1.61.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 7.29%. Plains All American Pipeline’s payout ratio is 109.48%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup boosted their price objective on shares of Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. UBS Group increased their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. TD Securities increased their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, May 6th. StockNews.com cut shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley increased their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.55.

Plains All American Pipeline Company Profile

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.