Plains All American Pipeline, L.P. (NYSE:PAA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $18.96.

PAA has been the subject of several research reports. The Goldman Sachs Group upped their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. StockNews.com downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Scotiabank started coverage on Plains All American Pipeline in a report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. Citigroup increased their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a report on Friday, March 1st. Finally, Truist Financial lifted their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th.

Plains All American Pipeline Price Performance

PAA stock opened at $17.49 on Tuesday. The stock has a market cap of $12.26 billion, a PE ratio of 12.58 and a beta of 1.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03. The firm has a 50 day simple moving average of $17.37 and a two-hundred day simple moving average of $16.14.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts predict that Plains All American Pipeline will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is currently 91.37%.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC purchased a new position in shares of Plains All American Pipeline during the first quarter valued at about $28,000. CENTRAL TRUST Co raised its position in shares of Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Plains All American Pipeline in the 4th quarter valued at approximately $39,000. Scarborough Advisors LLC purchased a new stake in Plains All American Pipeline in the fourth quarter worth $46,000. Finally, Briaud Financial Planning Inc bought a new position in Plains All American Pipeline in the third quarter worth $58,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.