Brokerages Set Plains All American Pipeline, L.P. (NYSE:PAA) Target Price at $19.91

Plains All American Pipeline, L.P. (NYSE:PAA) has been given a consensus rating of “Hold” by the eleven analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $19.91.

Several research analysts recently weighed in on the company. Bank of America started coverage on Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Finally, UBS Group boosted their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd.

Institutional Trading of Plains All American Pipeline

Hedge funds have recently modified their holdings of the business. Bank of Stockton purchased a new stake in Plains All American Pipeline in the 3rd quarter worth about $229,000. International Assets Investment Management LLC increased its holdings in shares of Plains All American Pipeline by 1,006.4% in the 3rd quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company’s stock valued at $1,164,000 after purchasing an additional 60,979 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in shares of Plains All American Pipeline by 0.4% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after purchasing an additional 1,047 shares in the last quarter. Private Advisor Group LLC grew its position in Plains All American Pipeline by 57.9% during the third quarter. Private Advisor Group LLC now owns 168,703 shares of the pipeline company’s stock valued at $2,930,000 after purchasing an additional 61,858 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Plains All American Pipeline by 241.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 449,827 shares of the pipeline company’s stock valued at $7,813,000 after buying an additional 317,927 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 $17.10 on Tuesday. The company has a 50 day moving average of $17.57 and a 200-day moving average of $17.64. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.64. The firm has a market cap of $11.99 billion, a P/E ratio of 11.48 and a beta of 1.60. Plains All American Pipeline has a twelve month low of $14.46 and a twelve month high of $19.17.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. The firm had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts anticipate that Plains All American Pipeline will post 1.31 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company 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 is Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.43%. Plains All American Pipeline’s dividend payout ratio is currently 115.45%.

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.