Analysts Expect Plains All American Pipeline, L.P. (PAA) Will Post Quarterly Sales of $7.34 Billion

Equities analysts expect Plains All American Pipeline, L.P. (NYSE:PAA) to post $7.34 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Plains All American Pipeline’s earnings, with the highest sales estimate coming in at $7.75 billion and the lowest estimate coming in at $6.69 billion. Plains All American Pipeline reported sales of $6.67 billion during the same quarter last year, which indicates a positive year over year growth rate of 10%. The company is expected to issue its next earnings results on Monday, May 14th.

According to Zacks, analysts expect that Plains All American Pipeline will report full year sales of $7.34 billion for the current financial year, with estimates ranging from $25.23 billion to $31.15 billion. For the next financial year, analysts anticipate that the firm will post sales of $28.97 billion per share, with estimates ranging from $24.25 billion to $31.49 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Plains All American Pipeline.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Tuesday, February 6th. The pipeline company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). Plains All American Pipeline had a return on equity of 9.93% and a net margin of 3.26%. The firm had revenue of $7.61 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period last year, the business posted $0.37 EPS. The company’s revenue was up 27.8% compared to the same quarter last year.

Several brokerages recently weighed in on PAA. Stifel Nicolaus reissued a “hold” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Plains All American Pipeline in a report on Thursday, February 8th. Seaport Global Securities raised Plains All American Pipeline from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $23.00 to $25.00 in a report on Thursday, February 8th. Robert W. Baird set a $22.00 price objective on Plains All American Pipeline and gave the stock a “hold” rating in a report on Wednesday, February 7th. Credit Suisse Group began coverage on Plains All American Pipeline in a report on Thursday, January 4th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, SunTrust Banks reissued a “hold” rating and issued a $24.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $26.79.

Shares of Plains All American Pipeline (PAA) opened at $22.76 on Thursday. Plains All American Pipeline has a twelve month low of $18.38 and a twelve month high of $33.01. The firm has a market capitalization of $16,510.00, a PE ratio of 24.74 and a beta of 0.87. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 1.20.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st were paid a $0.30 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $1.20 annualized dividend and a yield of 5.27%. Plains All American Pipeline’s dividend payout ratio is currently 130.43%.

A number of hedge funds and other institutional investors have recently modified their holdings of PAA. Commonwealth Bank of Australia boosted its stake in Plains All American Pipeline by 455.9% in the 3rd quarter. Commonwealth Bank of Australia now owns 7,039,650 shares of the pipeline company’s stock worth $148,562,000 after purchasing an additional 5,773,314 shares during the period. Alps Advisors Inc. boosted its position in shares of Plains All American Pipeline by 10.9% during the 3rd quarter. Alps Advisors Inc. now owns 33,958,970 shares of the pipeline company’s stock valued at $719,591,000 after acquiring an additional 3,346,596 shares during the last quarter. ING Groep NV bought a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at about $66,284,000. Atlantic Trust Group LLC boosted its position in shares of Plains All American Pipeline by 33.4% during the 3rd quarter. Atlantic Trust Group LLC now owns 6,669,879 shares of the pipeline company’s stock valued at $141,334,000 after acquiring an additional 1,668,416 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Plains All American Pipeline by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,489,794 shares of the pipeline company’s stock valued at $201,184,000 after acquiring an additional 1,562,189 shares during the last quarter. Institutional investors and hedge funds own 42.65% of the company’s stock.

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About Plains All American Pipeline

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.

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Earnings History and Estimates for Plains All American Pipeline (NYSE:PAA)

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