Plains All American Pipeline, L.P. (NYSE:PAA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $19.82.

Several research firms have issued reports on PAA. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. Finally, Bank of America began coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target on the stock.

Plains All American Pipeline Trading Up 6.2 %

NYSE:PAA opened at $18.73 on Friday. The stock has a market cap of $13.18 billion, a price-to-earnings ratio of 16.72 and a beta of 1.64. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company’s 50 day moving average price is $17.53 and its 200-day moving average price is $17.67. Plains All American Pipeline has a 52 week low of $15.02 and a 52 week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. The business had revenue of $12.74 billion for the quarter, compared to the consensus estimate of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.35 EPS. On average, equities research analysts forecast that Plains All American Pipeline will post 1.24 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.38 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend is Friday, January 31st. Plains All American Pipeline’s payout ratio is presently 113.39%.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAA. Wilmington Savings Fund Society FSB bought a new position in shares of Plains All American Pipeline in the third quarter worth approximately $27,000. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline in the 3rd quarter worth $28,000. Sunbelt Securities Inc. increased its stake in Plains All American Pipeline by 53.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after buying an additional 1,318 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in Plains All American Pipeline by 31.2% during the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after acquiring an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position 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 valued at $109,000 after acquiring an additional 856 shares in the last quarter. 41.78% of the stock is 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.