Plains All American Pipeline, L.P. (NYSE:PAA) Receives $17.56 Consensus PT from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has been given a consensus rating of “Hold” by the nine brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given 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 a report on the stock in the last year is $18.10.

A number of brokerages have weighed in on PAA. Citigroup lifted their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. Truist Financial lifted their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Scotiabank began coverage on Plains All American Pipeline in a report on Monday. They issued a “sector outperform” rating and a $23.00 target price for the company. Finally, StockNews.com upgraded Plains All American Pipeline from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new position in shares of Plains All American Pipeline during the 1st quarter valued at $76,000. Walnut Private Equity Partners LLC lifted its position in shares of Plains All American Pipeline by 2.6% during the 1st quarter. Walnut Private Equity Partners LLC now owns 400,000 shares of the pipeline company’s stock valued at $7,024,000 after buying an additional 10,000 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Plains All American Pipeline by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 201,893 shares of the pipeline company’s stock valued at $3,059,000 after buying an additional 2,687 shares during the last quarter. MONECO Advisors LLC bought a new stake in shares of Plains All American Pipeline during the 4th quarter valued at $1,008,000. Finally, Fisher Asset Management LLC bought a new stake in shares of Plains All American Pipeline during the 4th quarter valued at $165,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $18.53 on Friday. The stock’s 50 day moving average is $16.67 and its 200 day moving average is $15.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The firm has a market cap of $12.99 billion, a P/E ratio of 13.33 and a beta of 1.59. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, research analysts expect that Plains All American Pipeline will post 1.24 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 6.85%. Plains All American Pipeline’s dividend payout ratio is presently 91.37%.

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.