Plains All American Pipeline, L.P. (NYSE:PAA) Receives $19.82 Average PT from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has received a consensus rating of “Hold” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $19.82.

A number of analysts have recently commented on PAA shares. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. Bank of America assumed coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. Finally, Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Friday, October 25th.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $17.86 on Wednesday. Plains All American Pipeline has a fifty-two week low of $14.81 and a fifty-two week high of $19.17. The company has a market cap of $12.57 billion, a PE ratio of 15.95 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business has a 50-day simple moving average of $17.48 and a two-hundred day simple moving average of $17.62.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data 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 firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts expect that Plains All American Pipeline will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.11%. Plains All American Pipeline’s payout ratio is 113.39%.

Institutional Trading of Plains All American Pipeline

A number of hedge funds and other institutional investors have recently modified their holdings of PAA. Tidal Investments LLC increased its holdings in Plains All American Pipeline by 6.0% in the 3rd quarter. Tidal Investments LLC now owns 24,815 shares of the pipeline company’s stock valued at $431,000 after purchasing an additional 1,400 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline in the third quarter valued at $27,000. Sanctuary Advisors LLC raised its holdings in shares of Plains All American Pipeline by 15.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 55,494 shares of the pipeline company’s stock valued at $996,000 after buying an additional 7,265 shares during the period. Geode Capital Management LLC lifted its stake in Plains All American Pipeline by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 595,776 shares of the pipeline company’s stock worth $10,349,000 after acquiring an additional 1,989 shares in the last quarter. Finally, Barclays PLC grew its position in Plains All American Pipeline by 1.6% in the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock valued at $34,885,000 after acquiring an additional 32,061 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

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.