Plains All American Pipeline, L.P. (PAA) To Go Ex-Dividend on January 31st

Plains All American Pipeline, L.P. (NYSE:PAA) announced a quarterly dividend on Tuesday, January 7th,Wall Street Journal reports. Stockholders of record on Friday, January 31st will be given a dividend of 0.38 per share by the pipeline company on Friday, February 14th. This represents a $1.52 annualized dividend and a dividend yield of 7.41%. The ex-dividend date is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32.

Plains All American Pipeline has increased its dividend payment by an average of 20.8% per year over the last three years. Plains All American Pipeline has a dividend payout ratio of 100.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Plains All American Pipeline to earn $1.39 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 109.4%.

Plains All American Pipeline Price Performance

NYSE:PAA opened at $20.52 on Wednesday. The firm’s fifty day moving average is $18.20 and its two-hundred day moving average is $17.80. The firm has a market cap of $14.44 billion, a price-to-earnings ratio of 13.64 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline has a one year low of $15.02 and a one year high of $21.00.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the company earned $0.35 earnings per share. Plains All American Pipeline’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts expect that Plains All American Pipeline will post 1.17 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PAA. Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Raymond James increased their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Finally, Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.21.

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.