Plains All American Pipeline (NYSE:PAA) Price Target Raised to $18.00

Plains All American Pipeline (NYSE:PAA) had its price target boosted by Citigroup from $17.50 to $18.00 in a report published on Monday, Benzinga reports. The firm currently has a neutral rating on the pipeline company’s stock.

PAA has been the topic of several other research reports. Truist Financial boosted their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a research report on Tuesday, March 19th. Stifel Nicolaus raised their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Scotiabank began coverage on Plains All American Pipeline in a research note on Monday, April 8th. They set a sector outperform rating and a $23.00 price objective on the stock. TD Securities increased their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a hold rating in a report on Monday. Finally, The Goldman Sachs Group lifted their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $19.15.

Plains All American Pipeline Stock Up 1.0 %

Plains All American Pipeline stock opened at $17.66 on Monday. The firm has a 50 day moving average price of $17.42 and a 200-day moving average price of $16.18. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a twelve month low of $12.50 and a twelve month high of $19.03. The company has a market capitalization of $12.38 billion, a P/E ratio of 15.22 and a beta of 1.58.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Plains All American Pipeline will post 1.32 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 7.19%. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

Institutional Trading of Plains All American Pipeline

Large investors have recently modified their holdings of the business. Clarus Group Inc. increased its position in shares of Plains All American Pipeline by 1.0% during the first quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock valued at $1,221,000 after buying an additional 682 shares during the period. Covenant Asset Management LLC grew its stake in shares of Plains All American Pipeline by 3.7% in the 1st quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock worth $387,000 after buying an additional 795 shares during the last quarter. First National Trust Co grew its stake in shares of Plains All American Pipeline by 10.1% in the 4th quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock worth $171,000 after buying an additional 1,038 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Plains All American Pipeline by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock valued at $1,411,000 after buying an additional 1,089 shares in the last quarter. Finally, Wealth Alliance Advisory Group LLC raised its stake in Plains All American Pipeline by 1.3% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company’s stock valued at $1,268,000 after buying an additional 1,112 shares during the last quarter. 41.78% of the stock is owned by 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.