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

Plains All American Pipeline, L.P. (NYSE:PAA) has been given an average recommendation of “Hold” by the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.23.

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Morgan Stanley upped their price target on Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Scotiabank lowered their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 6th. Raymond James upped their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th.

Plains All American Pipeline Price Performance

PAA opened at $20.18 on Friday. The firm has a market capitalization of $14.20 billion, a PE ratio of 27.64 and a beta of 1.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The business’s 50-day moving average is $19.97 and its two-hundred day moving average is $18.39. Plains All American Pipeline has a 1 year low of $16.21 and a 1 year high of $21.00.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.53%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s payout ratio is presently 208.22%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PAA. Thrivent Financial for Lutherans grew its position in Plains All American Pipeline by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after purchasing an additional 887 shares during the period. Avior Wealth Management LLC grew its holdings in Plains All American Pipeline by 100.0% during the third quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 4,000 shares during the period. Citizens Financial Group Inc. RI purchased a new position in Plains All American Pipeline during the third quarter valued at approximately $186,000. Citigroup Inc. lifted its holdings in Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock valued at $59,560,000 after acquiring an additional 1,125,386 shares during the period. Finally, Cerity Partners LLC boosted its position in Plains All American Pipeline by 970.6% in the 3rd quarter. Cerity Partners LLC now owns 179,847 shares of the pipeline company’s stock worth $3,124,000 after purchasing an additional 163,049 shares in the last quarter. 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.