Plains All American Pipeline, L.P. (NYSE:PAA) Receives Consensus Rating of “Hold” from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has earned an average rating of “Hold” from the twelve research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.36.

Several research firms have recently weighed in on PAA. Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 target price on shares of Plains All American Pipeline in a report on Friday, May 9th. Raymond James Financial reissued a “strong-buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Citigroup reduced their price objective on shares of Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 9th. Finally, Scotiabank cut their price target on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th.

Plains All American Pipeline Trading Up 0.2%

NYSE PAA opened at $18.43 on Friday. The company’s 50-day moving average price is $17.43 and its 200-day moving average price is $18.42. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.96 billion, a PE ratio of 25.25 and a beta of 0.68. Plains All American Pipeline has a 12 month low of $15.58 and a 12 month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same quarter in the prior year, the firm earned $0.41 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.25%. The ex-dividend date is Thursday, July 31st. Plains All American Pipeline’s dividend payout ratio is currently 163.44%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in Plains All American Pipeline by 110.4% during the 4th quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company’s stock worth $72,186,000 after purchasing an additional 2,218,014 shares in the last quarter. BROOKFIELD Corp ON increased its position in Plains All American Pipeline by 50.2% during the 1st quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company’s stock worth $113,967,000 after purchasing an additional 1,904,261 shares in the last quarter. Invesco Ltd. increased its position in Plains All American Pipeline by 6.4% during the 1st quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company’s stock worth $591,988,000 after purchasing an additional 1,771,452 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Plains All American Pipeline by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock worth $422,894,000 after purchasing an additional 1,524,185 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Plains All American Pipeline by 8.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock worth $261,283,000 after purchasing an additional 1,211,286 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

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.