The Goldman Sachs Group Increases Plains All American Pipeline (NYSE:PAA) Price Target to $16.00

Plains All American Pipeline (NYSE:PAA) had its price objective lifted by The Goldman Sachs Group from $14.50 to $16.00 in a research report sent to investors on Friday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the pipeline company’s stock.

Other equities analysts also recently issued reports about the company. Citigroup raised their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a research report on Friday, March 1st. StockNews.com raised Plains All American Pipeline from a buy rating to a strong-buy rating in a research report on Friday, March 22nd. Scotiabank began coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a sector outperform rating and a $23.00 price objective on the stock. Finally, Truist Financial boosted their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $18.68.

Plains All American Pipeline Stock Down 1.4 %

PAA stock opened at $17.51 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $12.28 billion, a PE ratio of 12.60 and a beta of 1.59. Plains All American Pipeline has a 1-year low of $12.07 and a 1-year high of $19.03. The business’s 50 day simple moving average is $16.86 and its 200 day simple moving average is $15.89.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. Plains All American Pipeline’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. As a group, research analysts anticipate that Plains All American Pipeline will post 1.25 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 7.25%. Plains All American Pipeline’s dividend payout ratio is presently 91.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAA. IFP Advisors Inc boosted its holdings in shares of Plains All American Pipeline by 14.8% in the third quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 674 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Plains All American Pipeline by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 92,381 shares of the pipeline company’s stock valued at $1,152,000 after purchasing an additional 976 shares during the last quarter. First National Trust Co boosted its holdings in Plains All American Pipeline by 10.1% in the fourth quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock valued at $171,000 after purchasing an additional 1,038 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Plains All American Pipeline by 2.2% during the 4th quarter. Captrust Financial Advisors now owns 49,914 shares of the pipeline company’s stock worth $587,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Plains All American Pipeline by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock worth $1,411,000 after acquiring an additional 1,089 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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.