Earnings Preview for Plains All American Pipeline (PAA)
Highlights on Plains All American Pipeline's Upcoming Earnings
Plains All American Pipeline, L.P (PAA) is poised to announce its earnings results for the second quarter soon. Analysts are engaged in making predictions about the company's performance as the earnings call draws near.
Analyst Expectations for Revenue and Earnings
Experts anticipate that the Houston-based company will report earnings of approximately 33 cents per share. This marks an increase from the 31 cents per share reported during the same quarter last year. The expected quarterly revenue stands at about $12.86 billion, slightly down from $12.93 billion noted a year earlier, reflecting cautious optimism in the market.
Recent Business Developments
Recently, Plains All American completed a significant transaction by entering into definitive agreements with Plains GP Holdings to divest their NGL business to Keyera, valued at $3.75 billion. Such strategic moves signal the company’s commitment to optimizing its business portfolio.
Stock Performance Ahead of Earnings
On the trading front, shares of Plains All American Pipeline saw a modest uptick, closing at $17.87, reflecting a slight increase of 0.1%. Investors are closely monitoring movements in the stock as the earnings announcement approaches.
Insights from Analysts
As for analysts' views on PAA stock, several significant ratings and adjustments have been noted:
- Mizuho analyst Gabriel Moreen has upgraded his rating to Outperform, increasing the price target from $20 to $22, with an accuracy rate of 71%.
- JP Morgan's Jeremy Tonet maintained a Neutral rating but raised the target from $19 to $20, demonstrating a 66% accuracy.
- Citigroup's Spiro Dounis also retained a Neutral rating, but adjusted the price target downward from $21 to $18, achieving a 76% accuracy in past forecasts.
- Barclays' Theresa Chen has underlined an Underweight rating, reducing the price target from $19 to $18, noted for a 74% accuracy rate.
- Morgan Stanley's Robert Kad has maintained an Equal-Weight rating, boosting the price target from $19 to $23, achieving a solid 73% accuracy.
Should You Consider PAA Stock?
Investors contemplating the purchase of PAA stock might find it beneficial to heed analysts' insights and recent activities in the market. Understanding the evolving landscape can better inform decisions about acquiring shares or holding onto existing investments.
Frequently Asked Questions
1. When will Plains All American Pipeline announce its earnings?
The earnings announcement is expected shortly, and more specifics will be disclosed as the date approaches.
2. What are analysts predicting for PAA's earnings?
Analysts anticipate earnings of around 33 cents per share, reflecting growth from the previous year.
3. How did stock performance change recently?
PAA shares increased 0.1%, closing at $17.87 as traders prepared for the upcoming earnings report.
4. What significant transactions has PAA recently completed?
PAA has agreed to sell its NGL business to Keyera for $3.75 billion, a notable strategic move.
5. How are analysts currently rating PAA stock?
Analysts' ratings range from Outperform to Underweight, reflecting varied degrees of optimism regarding PAA's market performance.
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