Brokerages Set Plains All American Pipeline, L.P. (NYSE:PAA) PT at $19.64

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have received an average recommendation of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $19.64.

Several equities analysts have issued reports on PAA shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday. UBS Group upped their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company raised their price objective on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley upped their target price on shares of Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blackstone Inc. lifted its stake in Plains All American Pipeline by 1.4% in the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock valued at $413,345,000 after buying an additional 318,944 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in shares of Plains All American Pipeline by 0.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company’s stock valued at $336,734,000 after acquiring an additional 57,289 shares during the last quarter. UBS Group AG boosted its stake in Plains All American Pipeline by 89.3% during the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock worth $129,630,000 after acquiring an additional 4,035,328 shares during the last quarter. Eagle Global Advisors LLC boosted its stake in Plains All American Pipeline by 1.8% during the 4th quarter. Eagle Global Advisors LLC now owns 3,931,137 shares of the pipeline company’s stock worth $59,557,000 after acquiring an additional 68,810 shares during the last quarter. Finally, ING Groep NV grew its holdings in Plains All American Pipeline by 1.9% during the fourth quarter. ING Groep NV now owns 3,100,600 shares of the pipeline company’s stock valued at $47,005,000 after purchasing an additional 57,000 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Trading Down 0.5 %

Shares of Plains All American Pipeline stock opened at $17.54 on Monday. Plains All American Pipeline has a 12-month low of $14.25 and a 12-month high of $19.17. The stock has a market capitalization of $12.30 billion, a P/E ratio of 15.12 and a beta of 1.60. The company has a 50-day simple moving average of $18.03 and a 200 day simple moving average of $17.50. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. Research analysts expect that Plains All American Pipeline will post 1.3 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.24%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains All American Pipeline’s payout ratio is 109.48%.

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.