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

Plains All American Pipeline, L.P. (NYSE:PAA) has been assigned an average rating of “Hold” from the eleven research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $19.82.

PAA has been the topic of several recent analyst reports. Morgan Stanley 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 $19.00 in a research note on Friday, October 25th. Bank of America assumed coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th.

Plains All American Pipeline Stock Down 1.1 %

Shares of NYSE PAA opened at $17.86 on Wednesday. Plains All American Pipeline has a 12-month low of $14.81 and a 12-month high of $19.17. The stock has a market cap of $12.57 billion, a P/E ratio of 15.95 and a beta of 1.64. 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 business’s fifty day simple moving average is $17.48 and its 200-day simple moving average is $17.62.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping 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 company had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter in the previous year, the business posted $0.35 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that Plains All American Pipeline will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.3175 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.11%. Plains All American Pipeline’s payout ratio is currently 113.39%.

Institutional Trading of Plains All American Pipeline

A number of institutional investors have recently modified their holdings of the business. Tidal Investments LLC grew its position in Plains All American Pipeline by 6.0% during the third quarter. Tidal Investments LLC now owns 24,815 shares of the pipeline company’s stock worth $431,000 after buying an additional 1,400 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter worth approximately $27,000. Sanctuary Advisors LLC grew its holdings in shares of Plains All American Pipeline by 15.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 55,494 shares of the pipeline company’s stock worth $996,000 after acquiring an additional 7,265 shares during the period. Geode Capital Management LLC increased its stake in Plains All American Pipeline by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 595,776 shares of the pipeline company’s stock valued at $10,349,000 after purchasing an additional 1,989 shares in the last quarter. Finally, Barclays PLC raised its holdings in Plains All American Pipeline by 1.6% during the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after purchasing an additional 32,061 shares during the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

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.