Oil pipeline transportation company, Plains All American Pipeline, L.P.(PAA) reported increased Q4 profits on Thursday, beating analysts estimates.
The Houston, TX based company reported fourth quarter earnings of $320 million, or 69 cents per share, up from $278 million, or 68 cents per share last year. Excluding special items, earnings were $1.01 per share, up from 82 cents per share last year. Analysts expected to see earnings of 77 cents per share.
Revenues for the quarter increased 6% to $9.44 billion from $8.88 billion last year. Analysts expected revenue of $9.89 billion.
Plains All American Pipeline shares were mostly flat during premarket trading Thursday. The stock has increased 34% in the past year.
The Bottom Line
Shares of Plains All American Pipeline, L.P.(PAA) have a yield of 4.29%, based on Wednesday’s closing price of $52.40.
Plains All American Pipelines (PAA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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