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

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been given a consensus recommendation of “Hold” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.21.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research report on Friday, January 10th. Bank of America started coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price for the company. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th.

Plains All American Pipeline Trading Up 0.5 %

Shares of PAA stock opened at $19.90 on Thursday. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of 17.77 and a beta of 1.65. Plains All American Pipeline has a 1 year low of $15.02 and a 1 year high of $21.00. The company’s fifty day simple moving average is $18.42 and its two-hundred day simple moving average is $17.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92.

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

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.64%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is presently 135.71%.

Institutional Trading of Plains All American Pipeline

Several institutional investors have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth about $1,708,000. Stifel Financial Corp boosted its holdings in shares of Plains All American Pipeline by 30.6% during the third quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock worth $4,008,000 after purchasing an additional 54,111 shares during the period. FMR LLC boosted its holdings in shares of Plains All American Pipeline by 91.1% during the third quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock worth $10,427,000 after purchasing an additional 286,222 shares during the period. PFG Investments LLC boosted its holdings in shares of Plains All American Pipeline by 47.0% during the fourth quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock worth $771,000 after purchasing an additional 14,432 shares during the period. Finally, Syntax Research Inc. purchased a new stake in shares of Plains All American Pipeline during the third quarter worth about $1,742,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

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.