Plains All American Pipeline (NYSE:PAA – Free Report) had its price target hoisted by Raymond James from $23.00 to $24.00 in a research report report published on Tuesday,Benzinga reports. They currently have a strong-buy rating on the pipeline company’s stock.
A number of other equities analysts have also recently commented on the company. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday, November 15th. Bank of America initiated coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price on the stock. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Barclays boosted their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.21.
Get Our Latest Stock Analysis on PAA
Plains All American Pipeline Stock Up 1.6 %
Plains All American Pipeline (NYSE:PAA – Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the firm earned $0.35 EPS. Plains All American Pipeline’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Plains All American Pipeline will post 1.17 EPS for the current year.
Plains All American Pipeline Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.38 per share. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.25%. Plains All American Pipeline’s payout ratio is presently 113.39%.
Hedge Funds Weigh In On Plains All American Pipeline
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Axiom Advisory LLC increased its stake in Plains All American Pipeline by 5.2% in the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after purchasing an additional 750 shares during the period. Eclectic Associates Inc. ADV lifted its position in Plains All American Pipeline by 7.6% in the fourth quarter. Eclectic Associates Inc. ADV now owns 12,100 shares of the pipeline company’s stock valued at $207,000 after purchasing an additional 854 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after buying an additional 856 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Plains All American Pipeline by 5.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 17,195 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 885 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Plains All American Pipeline by 5.1% during the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after buying an additional 887 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.
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.
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