Plains All American Pipeline, L.P. (NYSE:PAA) Given Consensus Rating of “Hold” by Analysts

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been assigned a consensus rating of “Hold” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $20.00.

A number of research analysts have commented on the company. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday. Bank of America assumed 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. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 15th. Finally, Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, December 18th.

Plains All American Pipeline Stock Up 0.8 %

Shares of PAA opened at $18.88 on Friday. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 16.86 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business’s fifty day moving average price is $17.58 and its two-hundred day moving average price is $17.68. Plains All American Pipeline has a 52 week low of $15.02 and a 52 week high of $19.31.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. On average, analysts predict that Plains All American Pipeline will post 1.24 earnings per share for the current 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 issued a dividend of $0.38 per share. This is an increase 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 8.05%. The ex-dividend date is Friday, January 31st. Plains All American Pipeline’s payout ratio is currently 135.71%.

Hedge Funds Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently modified their holdings of PAA. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Plains All American Pipeline by 28.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 40,232 shares of the pipeline company’s stock worth $699,000 after buying an additional 8,932 shares in the last quarter. Fortem Financial Group LLC grew its stake in Plains All American Pipeline by 4.4% during the fourth quarter. Fortem Financial Group LLC now owns 66,278 shares of the pipeline company’s stock valued at $1,132,000 after acquiring an additional 2,772 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Plains All American Pipeline by 0.8% during the fourth quarter. CWA Asset Management Group LLC now owns 266,756 shares of the pipeline company’s stock valued at $4,556,000 after acquiring an additional 2,109 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Plains All American Pipeline by 58.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after buying an additional 2,677,951 shares in the last quarter. Finally, Syntax Research Inc. purchased a new position in shares of Plains All American Pipeline in the 3rd quarter worth $1,742,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.