Plains All American Pipeline (NASDAQ:PAA) Given New $25.00 Price Target at Wells Fargo & Company

Plains All American Pipeline (NASDAQ:PAA) had its target price lifted by Wells Fargo & Company from $23.00 to $25.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages also recently weighed in on PAA. Weiss Ratings downgraded shares of Plains All American Pipeline from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 14th. Mizuho increased their price target on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, September 21st. Barclays increased their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, September 21st. Morgan Stanley lifted their price objective on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Royal Bank Of Canada boosted their price objective on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.27.

Plains All American Pipeline Stock Up 2.0%

NASDAQ:PAA opened at $24.14 on Wednesday. The firm has a market capitalization of $17.03 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 9.09 and a beta of 0.58. Plains All American Pipeline has a twelve month low of $16.50 and a twelve month high of $26.98. The stock’s 50 day moving average price is $25.11 and its two-hundred day moving average price is $23.01. The company has a quick ratio of 1.10, a current ratio of 1.09 and a debt-to-equity ratio of 0.84.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, November 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.44). The company had revenue of $15.17 billion during the quarter. Plains All American Pipeline had a net margin of 4.81% and a return on equity of 12.56%. The company’s revenue was up 31.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities research analysts expect that Plains All American Pipeline will post 1.60 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.4175 per share. The ex-dividend date is Friday, October 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.9%. Plains All American Pipeline’s dividend payout ratio (DPR) is 55.67%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PAA. Parkside Financial Bank & Trust raised its position in Plains All American Pipeline by 0.7% during the second quarter. Parkside Financial Bank & Trust now owns 60,291 shares of the company’s stock valued at $1,342,000 after purchasing an additional 392 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Plains All American Pipeline by 0.7% during the third quarter. Apollon Wealth Management LLC now owns 67,626 shares of the company’s stock worth $1,604,000 after purchasing an additional 444 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Plains All American Pipeline by 1.6% in the 1st quarter. D.A. Davidson & CO. now owns 28,439 shares of the company’s stock valued at $635,000 after purchasing an additional 453 shares in the last quarter. Ulland Investment Advisors LLC boosted its holdings in shares of Plains All American Pipeline by 4.3% in the 3rd quarter. Ulland Investment Advisors LLC now owns 12,000 shares of the company’s stock valued at $285,000 after purchasing an additional 500 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Plains All American Pipeline by 1.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 30,124 shares of the company’s stock valued at $671,000 after purchasing an additional 509 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

About Plains All American Pipeline

Plains All American Pipeline, L.P. is a midstream energy company focused on the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs). Its infrastructure includes pipelines, gathering systems, storage facilities, and terminals. The company’s systems connect energy-producing regions with refineries and other markets, serving producers, refiners, and other energy customers. Its operations span the United States and Canada. Plains All American Pipeline operates as a master limited partnership and is listed under the ticker symbol PAA.