Plains All American Pipeline, L.P. (NYSE:PAA) Receives $19.55 Average PT from Analysts

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have received an average recommendation of “Hold” from the eleven analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $19.64.

A number of analysts recently weighed in on PAA shares. StockNews.com downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. UBS Group lifted their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors have recently bought and sold shares of PAA. UBS Group AG increased its stake in Plains All American Pipeline by 89.3% in the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock worth $129,630,000 after buying an additional 4,035,328 shares during the period. Acadian Asset Management LLC raised its position in Plains All American Pipeline by 114.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after buying an additional 1,020,277 shares during the last quarter. BNP Paribas Financial Markets raised its position in Plains All American Pipeline by 69.4% during the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after buying an additional 747,852 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Plains All American Pipeline in the 4th quarter valued at $6,112,000. Finally, Blackstone Inc. lifted its stake in shares of Plains All American Pipeline by 1.4% in the 1st quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock valued at $413,345,000 after purchasing an additional 318,944 shares during the period. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 1.5 %

PAA opened at $17.30 on Thursday. The business has a 50 day moving average price of $17.83 and a 200 day moving average price of $17.29. Plains All American Pipeline has a twelve month low of $14.25 and a twelve month high of $19.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97. The firm has a market cap of $12.13 billion, a P/E ratio of 11.60 and a beta of 1.61.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $12.93 billion for the quarter, compared to analyst estimates of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.50%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. Research analysts forecast that Plains All American Pipeline will post 1.32 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.3175 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.34%. Plains All American Pipeline’s dividend payout ratio is 109.48%.

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.