Plains All American Pipeline, L.P. (PAA) Expected to Announce Quarterly Sales of $9.05 Billion

Wall Street brokerages expect Plains All American Pipeline, L.P. (NYSE:PAA) to report $9.05 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Plains All American Pipeline’s earnings. The lowest sales estimate is $8.84 billion and the highest is $9.26 billion. Plains All American Pipeline posted sales of $8.40 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The business is expected to report its next earnings results on Tuesday, May 14th.

On average, analysts expect that Plains All American Pipeline will report full year sales of $35.64 billion for the current fiscal year, with estimates ranging from $34.54 billion to $37.15 billion. For the next year, analysts anticipate that the firm will post sales of $37.57 billion, with estimates ranging from $34.51 billion to $42.91 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Plains All American Pipeline.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, February 5th. The pipeline company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.11. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $9.92 billion. Plains All American Pipeline had a return on equity of 18.87% and a net margin of 6.50%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS.

A number of analysts have weighed in on the stock. Tudor Pickering upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Wednesday, February 6th. Evercore ISI assumed coverage on shares of Plains All American Pipeline in a report on Tuesday, February 5th. They set a $24.00 price target on the stock. ValuEngine raised shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Jefferies Financial Group raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Finally, Goldman Sachs Group raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Plains All American Pipeline presently has a consensus rating of “Buy” and an average target price of $28.33.

NYSE:PAA traded up $0.04 on Monday, reaching $24.51. 1,841,915 shares of the stock traded hands, compared to its average volume of 1,822,381. The firm has a market cap of $17.78 billion, a P/E ratio of 13.04 and a beta of 1.09. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.84 and a current ratio of 1.02. Plains All American Pipeline has a 12 month low of $19.33 and a 12 month high of $27.70.

Hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in Plains All American Pipeline by 4.0% during the fourth quarter. Alps Advisors Inc. now owns 39,061,715 shares of the pipeline company’s stock valued at $782,797,000 after acquiring an additional 1,516,386 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Plains All American Pipeline by 7.4% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 38,882,509 shares of the pipeline company’s stock worth $779,205,000 after purchasing an additional 2,663,930 shares during the last quarter. Brookfield Asset Management Inc. grew its holdings in shares of Plains All American Pipeline by 3.0% in the third quarter. Brookfield Asset Management Inc. now owns 10,057,467 shares of the pipeline company’s stock worth $251,538,000 after purchasing an additional 292,992 shares during the last quarter. Energy Income Partners LLC grew its holdings in shares of Plains All American Pipeline by 17.9% in the fourth quarter. Energy Income Partners LLC now owns 6,104,086 shares of the pipeline company’s stock worth $122,326,000 after purchasing an additional 928,299 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Plains All American Pipeline by 13.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,319,373 shares of the pipeline company’s stock worth $66,520,000 after purchasing an additional 389,535 shares during the last quarter. 47.36% of the stock is currently owned by hedge funds and other institutional investors.

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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