Plains All American Pipeline’s (PAA) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Plains All American Pipeline (NYSE:PAA) in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a $19.00 target price on the pipeline company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an overweight rating in a research note on Monday, June 10th. UBS Group upped their price objective 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, Wells Fargo & Company upped their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an overweight rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $19.64.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $17.37 on Wednesday. The company’s fifty day moving average price is $18.01 and its 200-day moving average price is $17.51. The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 14.97 and a beta of 1.60. Plains All American Pipeline has a one year low of $14.25 and a one year high of $19.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. On average, equities research analysts anticipate that Plains All American Pipeline will post 1.3 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a $0.3175 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.31%. Plains All American Pipeline’s dividend payout ratio is 109.48%.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently modified their holdings of the stock. DRW Securities LLC purchased a new stake in shares of Plains All American Pipeline in the 4th quarter worth about $1,661,000. Principal Securities Inc. purchased a new stake in shares of Plains All American Pipeline in the 4th quarter worth about $138,000. BNP Paribas Financial Markets increased its stake in shares of Plains All American Pipeline by 69.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock worth $32,044,000 after acquiring an additional 747,852 shares in the last quarter. Sei Investments Co. bought a new position in shares of Plains All American Pipeline in the 1st quarter worth about $2,608,000. Finally, ING Groep NV increased its stake in shares of Plains All American Pipeline by 1.9% in the 4th quarter. ING Groep NV now owns 3,100,600 shares of the pipeline company’s stock worth $47,005,000 after acquiring an additional 57,000 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

About Plains All American Pipeline

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.