Plains All American Pipeline, L.P. (NYSE:PAA) – Equities researchers at Seaport Global Securities lifted their FY2018 earnings estimates for Plains All American Pipeline in a report released on Thursday. Seaport Global Securities analyst B. Colson now expects that the pipeline company will post earnings per share of $1.64 for the year, up from their previous forecast of $1.62. Seaport Global Securities has a “Buy” rating and a $25.00 price objective on the stock. Seaport Global Securities also issued estimates for Plains All American Pipeline’s FY2019 earnings at $1.77 EPS.
A number of other analysts also recently commented on PAA. Jefferies Group reaffirmed a “buy” rating and set a $23.00 price target on shares of Plains All American Pipeline in a research report on Monday, October 16th. BMO Capital Markets set a $25.00 price target on Plains All American Pipeline and gave the company a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research downgraded Plains All American Pipeline from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Stifel Nicolaus increased their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $21.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.74.
Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Tuesday, February 6th. The pipeline company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.16). The business had revenue of $7.61 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Plains All American Pipeline had a net margin of 3.26% and a return on equity of 9.93%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date is Tuesday, January 30th. Plains All American Pipeline’s dividend payout ratio is currently 130.43%.
In other Plains All American Pipeline news, VP Chris Herbold sold 10,171 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $20.25, for a total value of $205,962.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PAA. American Assets Investment Management LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at $103,000. BB&T Investment Services Inc. purchased a new position in shares of Plains All American Pipeline in the second quarter valued at $108,000. IHT Wealth Management LLC purchased a new position in shares of Plains All American Pipeline in the second quarter valued at $118,000. Advisory Services Network LLC grew its position in shares of Plains All American Pipeline by 5.1% in the second quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock valued at $121,000 after purchasing an additional 223 shares in the last quarter. Finally, Welch Group LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at $134,000. 43.20% of the stock is owned by institutional investors and hedge funds.
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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