Plains All American Pipeline, L.P. (NYSE:PAA) Receives Average Recommendation of “Hold” from Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has earned an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $19.82.

PAA has been the topic of a number of research analyst reports. Bank of America began coverage on Plains All American Pipeline in a report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 target price on the stock. Morgan Stanley lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th.

Hedge Funds Weigh In On Plains All American Pipeline

Several large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in Plains All American Pipeline in the third quarter valued at about $27,000. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $28,000. ORG Partners LLC increased its position in shares of Plains All American Pipeline by 78.5% in the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after buying an additional 730 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Plains All American Pipeline by 53.2% during the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after acquiring an additional 1,318 shares in the last quarter. Finally, American National Bank grew its stake in Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock valued at $78,000 after acquiring an additional 3,110 shares during the period. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Down 1.5 %

PAA opened at $17.63 on Wednesday. The firm has a market cap of $12.41 billion, a P/E ratio of 15.74 and a beta of 1.64. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business has a 50 day moving average price of $17.46 and a 200 day moving average price of $17.60. 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 issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $12.74 billion during the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. Plains All American Pipeline’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. Research analysts forecast 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 was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.20%. The ex-dividend date was Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is 113.39%.

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.