Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Recommendation of “Hold” by Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has been assigned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $20.21.

Several equities analysts have recently issued reports on the company. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America initiated coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price on the stock. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, January 10th. Raymond James boosted their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Finally, Scotiabank restated a “sector outperform” rating and set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, January 10th.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline during the third quarter worth approximately $27,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Plains All American Pipeline during the 4th quarter valued at $27,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at $28,000. Sunbelt Securities Inc. grew its holdings in shares of Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after acquiring an additional 1,318 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after acquiring an additional 856 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $20.64 on Thursday. The stock has a market cap of $14.52 billion, a P/E ratio of 18.43 and a beta of 1.64. The firm’s 50-day simple moving average is $18.26 and its 200 day simple moving average is $17.82. Plains All American Pipeline has a fifty-two week low of $15.02 and a fifty-two week high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. Plains All American Pipeline’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. Equities analysts expect that Plains All American Pipeline will post 1.17 EPS for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.38 dividend. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 7.36%. The ex-dividend date of this dividend is Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is currently 113.39%.

Plains All American Pipeline Company Profile

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.