Plains All American Pipeline, L.P. (NYSE:PAA) to Post FY2024 Earnings of $1.26 Per Share, Seaport Res Ptn Forecasts

Plains All American Pipeline, L.P. (NYSE:PAA) – Seaport Res Ptn upped their FY2024 EPS estimates for Plains All American Pipeline in a research note issued on Saturday, August 17th. Seaport Res Ptn analyst S. Sibal now forecasts that the pipeline company will post earnings per share of $1.26 for the year, up from their previous estimate of $1.19. The consensus estimate for Plains All American Pipeline’s current full-year earnings is $1.32 per share. Seaport Res Ptn also issued estimates for Plains All American Pipeline’s Q4 2024 earnings at $0.30 EPS, FY2025 earnings at $1.05 EPS and FY2027 earnings at $1.09 EPS.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS.

Other equities analysts also recently issued reports about the stock. TD Securities raised their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Citigroup lifted their price objective on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Wells Fargo & Company increased their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. StockNews.com lowered Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, UBS Group upped their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.64.

Plains All American Pipeline Stock Up 0.7 %

PAA opened at $17.58 on Tuesday. The company has a market capitalization of $12.32 billion, a P/E ratio of 15.16 and a beta of 1.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.88. The firm’s fifty day moving average price is $17.90 and its two-hundred day moving average price is $17.35. Plains All American Pipeline has a fifty-two week low of $14.25 and a fifty-two week high of $19.17.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds have recently added to or reduced their stakes in PAA. Clarus Group Inc. lifted its stake in shares of Plains All American Pipeline by 1.0% during the first quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock valued at $1,221,000 after acquiring an additional 682 shares during the period. ORG Partners LLC grew its position in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after buying an additional 730 shares during the period. Covenant Asset Management LLC lifted its holdings in Plains All American Pipeline by 3.7% in the first quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock valued at $387,000 after buying an additional 795 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after buying an additional 856 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in Plains All American Pipeline by 0.9% in the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after buying an additional 927 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.3175 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 7.22%. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.