Plains All American Pipeline, L.P. (NYSE:PAA) Plans $0.32 Quarterly Dividend

Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Wednesday, July 3rd, Wall Street Journal reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.3175 per share by the pipeline company on Wednesday, August 14th. This represents a $1.27 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date of this dividend is Wednesday, July 31st.

Plains All American Pipeline has increased its dividend payment by an average of 5.9% annually over the last three years. Plains All American Pipeline has a payout ratio of 84.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Plains All American Pipeline to earn $1.51 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 84.1%.

Plains All American Pipeline Trading Down 0.2 %

Plains All American Pipeline stock opened at $18.35 on Tuesday. Plains All American Pipeline has a 52 week low of $14.25 and a 52 week high of $19.17. The stock has a market capitalization of $12.86 billion, a P/E ratio of 12.85 and a beta of 1.61. The stock has a 50-day simple moving average of $17.71 and a 200 day simple moving average of $17.15. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The company had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Analysts expect that Plains All American Pipeline will post 1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada boosted their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Scotiabank started coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. TD Securities boosted their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Monday, May 6th. UBS Group boosted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.55.

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.