Plains All American Pipeline (NYSE:PAA) Coverage Initiated at Bank of America

Bank of America assumed coverage on shares of Plains All American Pipeline (NYSE:PAA) in a report issued on Thursday, StockNewsAPI reports. The brokerage issued a neutral rating and a $18.00 target price on the pipeline company’s stock.

PAA has been the topic of several other research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. UBS Group lifted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.91.

Plains All American Pipeline Trading Down 0.5 %

Shares of Plains All American Pipeline stock opened at $17.27 on Thursday. The business has a fifty day simple moving average of $17.57 and a 200-day simple moving average of $17.66. Plains All American Pipeline has a fifty-two week low of $14.46 and a fifty-two week high of $19.17. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 14.89 and a beta of 1.60. 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 issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. Plains All American Pipeline’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. On average, equities analysts forecast that Plains All American Pipeline will post 1.3 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.35%. Plains All American Pipeline’s dividend payout ratio is 109.48%.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds have recently bought and sold shares of PAA. Eagle Bay Advisors LLC purchased a new position in Plains All American Pipeline during the 1st quarter valued at about $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline during the first quarter worth approximately $28,000. ORG Partners LLC grew its position in Plains All American Pipeline by 78.5% during the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 730 shares in the last quarter. Evermay Wealth Management LLC purchased a new position in Plains All American Pipeline during the first quarter valued at approximately $35,000. Finally, Sunbelt Securities Inc. increased its stake in Plains All American Pipeline by 53.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after buying an additional 1,318 shares during the period. 41.78% of the stock is 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.