Plains All American Pipeline, L.P. (NYSE:PAA) Receives $19.91 Average PT from Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has received an average rating of “Hold” from the eleven analysts that are covering the company, 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 12-month price objective among brokerages that have covered the stock in the last year is $19.82.

PAA has been the topic of several recent research reports. Bank of America assumed coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target on the stock. UBS Group lifted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Finally, Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $19.00 in a report on Friday.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blackstone Inc. grew its holdings in shares of Plains All American Pipeline by 1.4% in the 1st quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock worth $413,345,000 after acquiring an additional 318,944 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in Plains All American Pipeline by 0.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after purchasing an additional 57,289 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in Plains All American Pipeline by 1.0% in the third quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock valued at $71,913,000 after purchasing an additional 42,383 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in shares of Plains All American Pipeline by 2.0% in the second quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company’s stock valued at $45,520,000 after buying an additional 48,799 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Plains All American Pipeline by 114.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after buying an additional 1,020,277 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

PAA stock opened at $16.93 on Tuesday. The business has a 50 day simple moving average of $17.55 and a 200-day simple moving average of $17.62. The company has a market capitalization of $11.87 billion, a P/E ratio of 15.39 and a beta of 1.60. Plains All American Pipeline has a twelve month low of $14.46 and a twelve month high of $19.17. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The firm had revenue of $12.93 billion during the quarter, compared to analysts’ expectations of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. Plains All American Pipeline’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 EPS. As a group, equities analysts anticipate that Plains All American Pipeline will post 1.31 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.27 annualized dividend and a yield of 7.50%. Plains All American Pipeline’s payout ratio is currently 115.45%.

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.