Equities analysts expect Plains All American Pipeline, L.P. (NYSE:PAA) to announce sales of $8.18 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Plains All American Pipeline’s earnings, with the lowest sales estimate coming in at $7.39 billion and the highest estimate coming in at $8.87 billion. Plains All American Pipeline reported sales of $8.79 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 6.9%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, February 4th.
On average, analysts expect that Plains All American Pipeline will report full year sales of $32.04 billion for the current financial year, with estimates ranging from $29.37 billion to $33.39 billion. For the next year, analysts anticipate that the company will post sales of $27.65 billion, with estimates ranging from $14.18 billion to $35.73 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Plains All American Pipeline.
Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.13. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $8.05 billion. Plains All American Pipeline had a net margin of 8.95% and a return on equity of 21.05%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share.
Several research analysts recently weighed in on the stock. Morgan Stanley started coverage on shares of Plains All American Pipeline in a report on Monday, January 6th. They issued an “equal weight” rating and a $19.00 target price for the company. Raymond James decreased their price target on Plains All American Pipeline from $29.00 to $27.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 23rd. ValuEngine raised Plains All American Pipeline from a “sell” rating to a “hold” rating in a report on Friday, November 1st. TheStreet cut Plains All American Pipeline from a “b-” rating to a “c+” rating in a research report on Tuesday, October 8th. Finally, Robert W. Baird upgraded Plains All American Pipeline from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $22.00 to $21.00 in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Plains All American Pipeline presently has an average rating of “Buy” and an average price target of $24.17.
Several large investors have recently added to or reduced their stakes in PAA. Atwater Malick LLC purchased a new stake in shares of Plains All American Pipeline during the third quarter worth about $25,000. Garrett Wealth Advisory Group LLC bought a new position in Plains All American Pipeline during the third quarter valued at approximately $26,000. Lenox Wealth Advisors LLC bought a new position in Plains All American Pipeline during the third quarter valued at approximately $32,000. North Star Investment Management Corp. bought a new position in Plains All American Pipeline during the third quarter valued at approximately $37,000. Finally, CWM LLC bought a new position in Plains All American Pipeline during the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 52.14% of the company’s stock.
Shares of PAA stock opened at $18.61 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.96 and a quick ratio of 0.79. Plains All American Pipeline has a one year low of $16.77 and a one year high of $25.27. The company’s fifty day moving average price is $18.15 and its 200-day moving average price is $20.46. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of 9.90 and a beta of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 7.74%. The ex-dividend date of this dividend is Thursday, January 30th. Plains All American Pipeline’s dividend payout ratio is currently 76.60%.
About Plains All American Pipeline
Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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