Plains All American Pipeline, L.P. (NYSE:PAA) issued its quarterly earnings results on Monday. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05, Briefing.com reports. Plains All American Pipeline, L.P. had a net margin of 4.26% and a return on equity of 9.52%. The business had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period last year, the business earned ($0.12) earnings per share. The company’s revenue was up 22.8% on a year-over-year basis.

Shares of Plains All American Pipeline, L.P. (PAA) traded down 1.64% during mid-day trading on Monday, reaching $25.20. 1,852,038 shares of the company traded hands. Plains All American Pipeline, L.P. has a 52 week low of $23.21 and a 52 week high of $33.95. The firm has a 50-day moving average price of $25.75 and a 200 day moving average price of $28.97. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of 23.42 and a beta of 0.95.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, July 27th. This represents a $2.20 annualized dividend and a yield of 8.73%. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is 239.13%.

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Institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. acquired a new position in Plains All American Pipeline, L.P. during the first quarter worth about $229,000. Winslow Evans & Crocker Inc. boosted its stake in shares of Plains All American Pipeline, L.P. by 2.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 9,866 shares of the pipeline company’s stock worth $312,000 after buying an additional 250 shares during the last quarter. Baldwin Brothers Inc. MA boosted its stake in shares of Plains All American Pipeline, L.P. by 19.5% in the first quarter. Baldwin Brothers Inc. MA now owns 25,709 shares of the pipeline company’s stock worth $813,000 after buying an additional 4,200 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of Plains All American Pipeline, L.P. during the first quarter worth approximately $199,000. Finally, Regent Investment Management LLC purchased a new stake in shares of Plains All American Pipeline, L.P. during the first quarter worth approximately $468,000. 44.01% of the stock is owned by institutional investors.

PAA has been the subject of a number of recent research reports. Wolfe Research reissued a “market perform” rating on shares of Plains All American Pipeline, L.P. in a research report on Friday, April 21st. Stifel Nicolaus reissued a “hold” rating and set a $30.00 price target on shares of Plains All American Pipeline, L.P. in a research report on Wednesday, July 19th. Barclays PLC raised shares of Plains All American Pipeline, L.P. from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research report on Tuesday, July 18th. Raymond James Financial, Inc. raised shares of Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research report on Monday, May 22nd. They noted that the move was a valuation call. Finally, Scotiabank reissued a “buy” rating and set a $36.00 price target on shares of Plains All American Pipeline, L.P. in a research report on Thursday, April 27th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.83.

Plains All American Pipeline, L.P. Company Profile

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Earnings History for Plains All American Pipeline, L.P. (NYSE:PAA)

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