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

Plains All American Pipeline, L.P. (NYSE:PAA) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.00.

A number of research firms have weighed in on PAA. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. Bank of America began coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target on the stock. Wolfe Research raised 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. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $22.00 to $20.00 in a research note on Wednesday, December 18th.

Plains All American Pipeline Trading Up 0.8 %

NYSE PAA opened at $18.88 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 16.86 and a beta of 1.64. The company’s 50-day simple moving average is $17.58 and its two-hundred day simple moving average is $17.68. Plains All American Pipeline has a one year low of $15.02 and a one year high of $19.31.

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, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The business had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the previous year, the business posted $0.35 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Plains All American Pipeline will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 8.05%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 135.71%.

Institutional Investors Weigh In On Plains All American Pipeline

Several large investors have recently added to or reduced their stakes in the stock. Axiom Advisory LLC grew its holdings in Plains All American Pipeline by 5.2% during the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock worth $274,000 after acquiring an additional 750 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after buying an additional 856 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock valued at $315,000 after acquiring an additional 887 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Plains All American Pipeline by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after acquiring an additional 927 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in Plains All American Pipeline by 0.4% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after buying an additional 1,047 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

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.