Plains All American Pipeline, L.P. (NYSE:PAA) Receives $19.92 Consensus Price Target from Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.23.

Several brokerages have commented on PAA. Raymond James raised their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Scotiabank cut their price target on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Wolfe Research raised 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 note on Friday, January 10th. Finally, Morgan Stanley upped their price target on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday.

Institutional Trading of Plains All American Pipeline

Large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. acquired a new position in Plains All American Pipeline in the fourth quarter valued at approximately $27,000. National Bank of Canada FI purchased a new position in Plains All American Pipeline in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp increased its stake in Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after acquiring an additional 3,368 shares during the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in Plains All American Pipeline in the fourth quarter valued at $97,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

NYSE:PAA opened at $20.18 on Friday. 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 has a 52 week low of $16.21 and a 52 week high of $21.00. The stock’s 50-day moving average price is $19.97 and its 200-day moving average price is $18.39. The stock has a market capitalization of $14.20 billion, a PE ratio of 27.64 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.38 per share. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.53%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 208.22%.

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.