Bank of America Begins Coverage on Plains All American Pipeline (NYSE:PAA)

Bank of America began coverage on shares of Plains All American Pipeline (NYSE:PAA) in a report published on Thursday, StockNewsAPI reports. The brokerage issued a neutral rating and a $18.00 price objective on the pipeline company’s stock.

PAA has been the subject of a number of other research reports. UBS Group raised their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline has a consensus rating of “Moderate Buy” and a consensus price target of $19.91.

Plains All American Pipeline Trading Down 0.5 %

PAA opened at $17.27 on Thursday. The business has a 50 day simple moving average of $17.57 and a two-hundred day simple moving average of $17.66. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 14.89 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90. Plains All American Pipeline has a one year low of $14.46 and a one year high of $19.17.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. Plains All American Pipeline’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. Analysts predict that Plains All American Pipeline will post 1.3 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date of this dividend is Thursday, October 31st. Plains All American Pipeline’s payout ratio is 109.48%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC purchased a new position in Plains All American Pipeline during the first quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new position in shares of Plains All American Pipeline in the first quarter worth $28,000. ORG Partners LLC raised its stake in shares of Plains All American Pipeline by 78.5% in the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 730 shares during the last quarter. Evermay Wealth Management LLC purchased a new position in shares of Plains All American Pipeline in the first quarter worth $35,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.