Plains All American Pipeline, L.P. Announces Quarterly Dividend of $0.38 (NYSE:PAA)

Plains All American Pipeline, L.P. (NYSE:PAA) declared a quarterly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Thursday, May 1st will be paid a dividend of 0.38 per share by the pipeline company on Thursday, May 15th. This represents a $1.52 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend is Thursday, May 1st.

Plains All American Pipeline has increased its dividend by an average of 20.8% annually over the last three years. Plains All American Pipeline has a payout ratio of 97.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Plains All American Pipeline to earn $1.52 per share next year, which means the company may not be able to cover its $1.52 annual dividend with an expected future payout ratio of 100.0%.

Plains All American Pipeline Stock Down 5.1 %

PAA traded down $1.04 during midday trading on Thursday, hitting $19.24. The company had a trading volume of 5,303,703 shares, compared to its average volume of 3,068,327. The stock’s 50 day moving average price is $19.98 and its 200 day moving average price is $18.50. Plains All American Pipeline has a 52 week low of $16.21 and a 52 week high of $21.00. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 26.35 and a beta of 1.62. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PAA. Barclays boosted their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Morgan Stanley upped their target price on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 25th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Raymond James raised their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.23.

Plains All American Pipeline Company Profile

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.