Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Rating of “Hold” by Brokerages

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have earned an average rating of “Hold” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $20.21.

PAA has been the subject of several analyst reports. Morgan Stanley downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Raymond James boosted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, January 10th. Finally, Barclays increased their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in Plains All American Pipeline during the 3rd quarter worth $27,000. Newbridge Financial Services Group Inc. bought a new position in shares of Plains All American Pipeline in the fourth quarter worth $27,000. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline in the third quarter valued at about $28,000. Sunbelt Securities Inc. lifted its position in Plains All American Pipeline by 53.2% during the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after buying an additional 856 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline Stock Up 0.9 %

Shares of Plains All American Pipeline stock opened at $20.29 on Thursday. The firm has a market cap of $14.28 billion, a PE ratio of 13.11 and a beta of 1.65. The business’s 50 day simple moving average is $18.52 and its 200 day simple moving average is $17.87. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline has a 52-week low of $15.02 and a 52-week high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts predict that Plains All American Pipeline will post 1.17 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date is Friday, January 31st. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s payout ratio is presently 135.71%.

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.