Plains All American Pipeline (NYSE:PAA) Price Target Raised to $22.00 at UBS Group

Plains All American Pipeline (NYSE:PAA) had its target price increased by UBS Group from $21.00 to $22.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

Several other analysts also recently weighed in on the company. Citigroup boosted their target price on Plains All American Pipeline from $17.50 to $18.00 and gave the company a neutral rating in a report on Monday, May 6th. Scotiabank began coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They set a sector outperform rating and a $23.00 price target for the company. Morgan Stanley lifted their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an overweight rating in a research note on Monday, June 10th. Truist Financial raised their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Finally, Stifel Nicolaus upped their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $19.38.

Plains All American Pipeline Stock Up 2.9 %

Shares of NYSE PAA opened at $18.55 on Tuesday. The business has a 50-day moving average of $17.29 and a two-hundred day moving average of $16.67. The company has a market capitalization of $13.00 billion, a price-to-earnings ratio of 15.97 and a beta of 1.61. Plains All American Pipeline has a 1 year low of $13.88 and a 1 year high of $19.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.88.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that Plains All American Pipeline will post 1.29 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend was Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PAA. Eagle Bay Advisors LLC acquired a new stake in shares of Plains All American Pipeline in the 1st quarter worth approximately $26,000. Future Financial Wealth Managment LLC purchased a new stake in Plains All American Pipeline during the first quarter worth $28,000. Evermay Wealth Management LLC purchased a new position in shares of Plains All American Pipeline in the first quarter valued at $35,000. Fortitude Family Office LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter valued at $39,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Plains All American Pipeline in the 4th quarter worth about $46,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.