Plains All American Pipeline Lp (NASDAQ:PAA) Receives $22.38 Average Price Target from Analysts

Plains All American Pipeline Lp (NASDAQ:PAA) has received an average rating of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $22.5385.

A number of equities analysts have weighed in on PAA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Friday, April 17th. Truist Financial started coverage on Plains All American Pipeline in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target on the stock. Bank of America downgraded Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a research report on Wednesday, January 28th. Barclays boosted their price target on Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Finally, Scotiabank upped their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th.

Plains All American Pipeline Stock Up 2.0%

Shares of NASDAQ PAA opened at $24.15 on Wednesday. The stock’s 50 day simple moving average is $22.06. The firm has a market capitalization of $17.04 billion, a P/E ratio of 18.44, a PEG ratio of 3.13 and a beta of 0.51. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. Plains All American Pipeline has a twelve month low of $15.69 and a twelve month high of $24.26.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 earnings per share. As a group, research analysts anticipate that Plains All American Pipeline will post 1.59 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $0.4175 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.67 annualized dividend and a dividend yield of 6.9%. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently made changes to their positions in PAA. NewEdge Advisors LLC acquired a new position in shares of Plains All American Pipeline in the first quarter valued at approximately $260,000. Guggenheim Capital LLC grew its position in shares of Plains All American Pipeline by 5.9% in the second quarter. Guggenheim Capital LLC now owns 46,288 shares of the company’s stock valued at $848,000 after purchasing an additional 2,592 shares during the last quarter. First Trust Advisors LP grew its position in shares of Plains All American Pipeline by 4.1% in the second quarter. First Trust Advisors LP now owns 404,921 shares of the company’s stock valued at $7,418,000 after purchasing an additional 16,096 shares during the last quarter. Glenview Trust co acquired a new position in shares of Plains All American Pipeline in the second quarter valued at approximately $404,000. Finally, HUB Investment Partners LLC grew its position in shares of Plains All American Pipeline by 5.6% in the second quarter. HUB Investment Partners LLC now owns 91,113 shares of the company’s stock valued at $1,669,000 after purchasing an additional 4,839 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.