Plains All American Pipeline Lp (NASDAQ:PAA) Given Average Rating of “Hold” by Brokerages

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have been assigned a consensus rating of “Hold” from the eighteen research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $22.9286.

PAA has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Barclays increased their target price on Plains All American Pipeline from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, April 10th. Mizuho increased their target price on Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, June 8th. US Capital Advisors lowered Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Finally, Citigroup increased their target price on Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 14th.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Life Planners purchased a new stake in shares of Plains All American Pipeline during the first quarter worth $27,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Plains All American Pipeline by 40.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after acquiring an additional 655 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline during the fourth quarter worth $42,000. Fulcrum Asset Management LLP purchased a new stake in shares of Plains All American Pipeline during the third quarter worth $50,000. Finally, Fifth Third Bancorp raised its holdings in shares of Plains All American Pipeline by 257.3% during the third quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock worth $73,000 after acquiring an additional 3,065 shares in the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

PAA opened at $21.34 on Friday. The stock has a fifty day moving average of $22.32 and a 200-day moving average of $20.67. The firm has a market capitalization of $15.06 billion, a P/E ratio of 16.29, a PEG ratio of 9.78 and a beta of 0.50. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $24.26. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. Equities analysts forecast that Plains All American Pipeline will post 1.56 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 7.8%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 127.48%.

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.