Plains All American Pipeline Lp (NASDAQ:PAA) Receives $21.85 Consensus Target Price from Brokerages

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have been given a consensus rating of “Hold” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $21.8462.

PAA has been the subject of a number of recent research reports. Wall Street Zen downgraded Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Sunday, January 4th. Morgan Stanley increased their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Zacks Research lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Barclays lifted their target price on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada increased their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th.

Institutional Trading of Plains All American Pipeline

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter valued at about $260,000. Geode Capital Management LLC lifted its holdings in Plains All American Pipeline by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 602,204 shares of the company’s stock worth $11,032,000 after purchasing an additional 5,145 shares during the last quarter. SG Americas Securities LLC boosted its position in Plains All American Pipeline by 44.3% during the second quarter. SG Americas Securities LLC now owns 12,632 shares of the company’s stock worth $231,000 after purchasing an additional 3,880 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Plains All American Pipeline by 19.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 53,334 shares of the company’s stock worth $977,000 after purchasing an additional 8,559 shares during the period. Finally, Beacon Pointe Advisors LLC acquired a new position in Plains All American Pipeline during the second quarter valued at approximately $1,186,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 1.6%

Shares of NASDAQ:PAA opened at $22.14 on Tuesday. The firm’s fifty day moving average is $20.85. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Plains All American Pipeline has a 12-month low of $15.57 and a 12-month high of $22.79. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 3.41 and a beta of 0.53.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.The firm’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.4175 dividend. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date was Friday, January 30th. Plains All American Pipeline’s dividend payout ratio is currently 100.60%.

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.