Plains All American Pipeline, L.P. (NYSE:PAA) – Analysts at SunTrust Banks dropped their Q2 2019 earnings per share (EPS) estimates for Plains All American Pipeline in a report issued on Tuesday, November 6th. SunTrust Banks analyst T. Richardson now anticipates that the pipeline company will post earnings of $0.34 per share for the quarter, down from their previous forecast of $0.37. SunTrust Banks has a “Buy” rating and a $29.00 price target on the stock. SunTrust Banks also issued estimates for Plains All American Pipeline’s Q3 2019 earnings at $0.36 EPS, FY2019 earnings at $1.89 EPS and FY2020 earnings at $1.98 EPS.

PAA has been the subject of a number of other research reports. Credit Suisse Group started coverage on shares of Plains All American Pipeline in a research report on Thursday, October 11th. They set an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Monday, October 22nd. Morgan Stanley set a $28.00 target price on shares of Plains All American Pipeline and gave the stock a “buy” rating in a research report on Friday, September 14th. Johnson Rice started coverage on shares of Plains All American Pipeline in a research report on Thursday, September 13th. They set a “buy” rating and a $31.00 target price for the company. Finally, Seaport Global Securities started coverage on shares of Plains All American Pipeline in a research report on Friday, July 27th. They set a “buy” rating and a $28.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Plains All American Pipeline has a consensus rating of “Buy” and an average target price of $27.88.

Shares of NYSE:PAA opened at $23.01 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.63. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.81 and a beta of 0.91. Plains All American Pipeline has a twelve month low of $18.38 and a twelve month high of $27.70.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $8.79 billion during the quarter, compared to analyst estimates of $7.82 billion. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.90%. The company’s quarterly revenue was up 49.7% on a year-over-year basis. During the same quarter last year, the business earned $0.21 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.22%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 127.66%.

In other news, VP Chris Herbold sold 10,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total value of $279,072.85. Following the completion of the transaction, the vice president now directly owns 34,227 shares in the company, valued at $901,881.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its position in shares of Plains All American Pipeline by 7.0% in the third quarter. Alps Advisors Inc. now owns 37,545,329 shares of the pipeline company’s stock valued at $939,009,000 after acquiring an additional 2,450,636 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in shares of Plains All American Pipeline by 21.2% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 36,218,579 shares of the pipeline company’s stock valued at $905,827,000 after acquiring an additional 6,343,995 shares during the period. Bank of Montreal Can boosted its position in shares of Plains All American Pipeline by 19.9% in the second quarter. Bank of Montreal Can now owns 8,772,504 shares of the pipeline company’s stock valued at $207,382,000 after acquiring an additional 1,453,763 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Plains All American Pipeline by 11.4% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,466,283 shares of the pipeline company’s stock valued at $211,742,000 after acquiring an additional 867,304 shares during the period. Finally, Chickasaw Capital Management LLC boosted its position in shares of Plains All American Pipeline by 1.9% in the third quarter. Chickasaw Capital Management LLC now owns 6,151,434 shares of the pipeline company’s stock valued at $153,847,000 after acquiring an additional 113,603 shares during the period. Institutional investors own 45.90% 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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