$0.40 Earnings Per Share Expected for Plains All American Pipeline, L.P. (NYSE:PAA) This Quarter

Wall Street brokerages forecast that Plains All American Pipeline, L.P. (NYSE:PAA) will report earnings of $0.40 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Plains All American Pipeline’s earnings, with estimates ranging from $0.33 to $0.46. Plains All American Pipeline reported earnings of $0.43 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 7%. The firm is scheduled to issue its next earnings report after the market closes on Tuesday, November 5th.

On average, analysts expect that Plains All American Pipeline will report full year earnings of $2.56 per share for the current financial year, with EPS estimates ranging from $2.46 to $2.67. For the next year, analysts forecast that the business will report earnings of $1.89 per share, with EPS estimates ranging from $1.35 to $2.28. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Plains All American Pipeline.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.23. The firm had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.07 billion. Plains All American Pipeline had a return on equity of 21.81% and a net margin of 9.48%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS.

Several brokerages have weighed in on PAA. TheStreet downgraded Plains All American Pipeline from a “b-” rating to a “c+” rating in a research note on Tuesday, October 8th. Barclays reaffirmed a “hold” rating and set a $24.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, October 16th. Scotia Howard Weill began coverage on Plains All American Pipeline in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 target price on the stock. ValuEngine raised Plains All American Pipeline from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus set a $25.00 target price on Plains All American Pipeline and gave the company a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $27.18.

Plains All American Pipeline stock traded up $0.04 during mid-day trading on Monday, hitting $19.47. 1,908,794 shares of the company’s stock traded hands, compared to its average volume of 2,290,856. The firm has a 50 day moving average price of $20.61 and a 200 day moving average price of $22.85. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.89. The company has a market cap of $14.20 billion, a PE ratio of 10.36 and a beta of 1.02. Plains All American Pipeline has a one year low of $18.60 and a one year high of $25.27.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 7.40%. The ex-dividend date of this dividend is Wednesday, October 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 76.60%.

In other news, VP Chris Herbold sold 23,337 shares of Plains All American Pipeline stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.38, for a total transaction of $498,945.06. Following the transaction, the vice president now directly owns 79,564 shares in the company, valued at approximately $1,701,078.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stephens Inc. AR grew its holdings in shares of Plains All American Pipeline by 7.1% in the 3rd quarter. Stephens Inc. AR now owns 135,366 shares of the pipeline company’s stock worth $2,809,000 after acquiring an additional 9,005 shares during the last quarter. Garrett Wealth Advisory Group LLC acquired a new position in shares of Plains All American Pipeline in the 3rd quarter worth $26,000. Lake Street Financial LLC grew its holdings in shares of Plains All American Pipeline by 15.1% in the 3rd quarter. Lake Street Financial LLC now owns 67,650 shares of the pipeline company’s stock worth $1,404,000 after acquiring an additional 8,850 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Plains All American Pipeline by 29.7% in the third quarter. Envestnet Asset Management Inc. now owns 89,276 shares of the pipeline company’s stock worth $1,852,000 after buying an additional 20,447 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Plains All American Pipeline by 10.6% in the third quarter. CIBC Private Wealth Group LLC now owns 7,522,899 shares of the pipeline company’s stock worth $156,100,000 after buying an additional 723,778 shares during the period. Institutional investors and hedge funds own 50.37% of the company’s stock.

Plains All American Pipeline Company Profile

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

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