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

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $19.38.

Several analysts have issued reports on the company. Citigroup increased their target price on Plains All American Pipeline from $17.50 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. 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. Stifel Nicolaus lifted their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Truist Financial lifted their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, StockNews.com lowered Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd.

Institutional Trading of Plains All American Pipeline

A number of large investors have recently modified their holdings of the stock. Clarus Group Inc. increased its holdings in Plains All American Pipeline by 1.0% in 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 last quarter. Covenant Asset Management LLC boosted its stake in Plains All American Pipeline by 3.7% in the first quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock valued at $387,000 after acquiring an additional 795 shares in the last quarter. First National Trust Co boosted its stake in Plains All American Pipeline by 10.1% in the fourth quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock valued at $171,000 after acquiring an additional 1,038 shares in the last quarter. Wealth Alliance Advisory Group LLC boosted its stake in Plains All American Pipeline by 1.3% in 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 acquiring an additional 1,112 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Plains All American Pipeline by 3.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 34,910 shares of the pipeline company’s stock worth $529,000 after buying an additional 1,195 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 0.2 %

Shares of NYSE PAA opened at $16.78 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.88 and a current ratio of 0.97. The business’s 50 day moving average price is $17.33 and its 200-day moving average price is $16.51. Plains All American Pipeline has a fifty-two week low of $13.20 and a fifty-two week high of $19.03. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 14.47 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.98 billion. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. Plains All American Pipeline’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. On average, sell-side analysts expect that Plains All American Pipeline will post 1.29 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.57%. The ex-dividend date was Tuesday, April 30th. Plains All American Pipeline’s payout ratio is 109.48%.

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.