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

Plains All American Pipeline, L.P. (NYSE:PAA) has been assigned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $20.21.

PAA has been the topic of a number of recent analyst reports. Raymond James increased their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $22.00 to $19.00 in a report on Friday, October 25th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Finally, Scotiabank reiterated a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $19.90 on Thursday. Plains All American Pipeline has a fifty-two week low of $15.02 and a fifty-two week high of $21.00. The company has a 50 day simple moving average of $18.42 and a two-hundred day simple moving average of $17.85. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 17.77 and a beta of 1.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts expect that Plains All American Pipeline will post 1.17 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.64%. The ex-dividend date is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 135.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Plains All American Pipeline during the 3rd quarter worth $27,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth $27,000. Future Financial Wealth Managment LLC purchased a new position in shares of Plains All American Pipeline during the 3rd quarter worth $28,000. Sunbelt Securities Inc. raised its position in shares of Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after purchasing an additional 1,318 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 856 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.