What is Seaport Res Ptn’s Forecast for PAA FY2024 Earnings?

Plains All American Pipeline, L.P. (NYSE:PAA) – Stock analysts at Seaport Res Ptn upped their FY2024 EPS estimates for shares of Plains All American Pipeline in a report issued on Tuesday, October 29th. Seaport Res Ptn analyst S. Sibal now forecasts that the pipeline company will post earnings per share of $1.27 for the year, up from their prior estimate of $1.26. The consensus estimate for Plains All American Pipeline’s current full-year earnings is $1.31 per share. Seaport Res Ptn also issued estimates for Plains All American Pipeline’s Q4 2024 earnings at $0.31 EPS.

Other equities analysts have also issued reports about the stock. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America initiated coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.82.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $16.77 on Wednesday. The firm has a 50-day moving average of $17.50 and a 200-day moving average of $17.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00. The stock has a market cap of $11.76 billion, a PE ratio of 15.25 and a beta of 1.60. Plains All American Pipeline has a 52-week low of $14.46 and a 52-week high of $19.17.

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

Hedge Funds Weigh In On Plains All American Pipeline

Several hedge funds have recently bought and sold shares of PAA. Norden Group LLC bought a new position in Plains All American Pipeline in the 1st quarter valued at about $338,000. Financial Sense Advisors Inc. grew its holdings in shares of Plains All American Pipeline by 29.9% during the 1st quarter. Financial Sense Advisors Inc. now owns 13,884 shares of the pipeline company’s stock valued at $244,000 after purchasing an additional 3,195 shares during the last quarter. FORVIS Wealth Advisors LLC bought a new stake in shares of Plains All American Pipeline during the 1st quarter valued at approximately $3,227,000. Maryland State Retirement & Pension System grew its holdings in shares of Plains All American Pipeline by 1.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 389,300 shares of the pipeline company’s stock valued at $6,663,000 after purchasing an additional 6,162 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Plains All American Pipeline by 4.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 125,542 shares of the pipeline company’s stock valued at $2,205,000 after purchasing an additional 5,529 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.57%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is currently 115.45%.

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.