Plains All American Pipeline (NYSE:PAA) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Plains All American Pipeline (NYSE:PAA) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.

A number of other analysts also recently issued reports on the stock. UBS Group increased their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a report on Friday, April 12th. Truist Financial increased their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Stifel Nicolaus increased their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a buy rating in a report on Tuesday, April 16th. The Goldman Sachs Group increased their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a sell rating in a report on Friday, April 12th. Finally, Citigroup increased their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a report on Friday, March 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $18.96.

Plains All American Pipeline Stock Down 1.1 %

PAA stock opened at $17.87 on Wednesday. The firm’s fifty day simple moving average is $17.27 and its 200-day simple moving average is $16.08. The company has a market capitalization of $12.53 billion, a P/E ratio of 12.86 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. Plains All American Pipeline has a 12 month low of $12.07 and a 12 month high of $19.03.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities research analysts forecast that Plains All American Pipeline will post 1.34 earnings per share 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. Stockholders of record on Wednesday, May 1st will be paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.11%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is currently 91.37%.

Hedge Funds Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its stake in shares of Plains All American Pipeline by 1.5% in the first quarter. Chicago Partners Investment Group LLC now owns 208,582 shares of the pipeline company’s stock worth $3,765,000 after buying an additional 3,077 shares in the last quarter. Covenant Asset Management LLC raised its stake in Plains All American Pipeline by 3.7% during the first quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock worth $387,000 after purchasing an additional 795 shares during the period. Stablepoint Partners LLC purchased a new position in Plains All American Pipeline during the first quarter worth about $283,000. Clarus Group Inc. raised its stake in Plains All American Pipeline by 1.0% during the first quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock worth $1,221,000 after purchasing an additional 682 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Plains All American Pipeline by 1.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 354,978 shares of the pipeline company’s stock worth $6,233,000 after purchasing an additional 5,873 shares during the period. 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.