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

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have received a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.92.

PAA has been the topic of a number of analyst reports. Barclays lifted their price target on Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Raymond James lifted their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Scotiabank reduced their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, January 10th.

Plains All American Pipeline Stock Up 0.2 %

Plains All American Pipeline stock opened at $20.24 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline has a 1-year low of $16.21 and a 1-year high of $21.00. The company has a market cap of $14.24 billion, a PE ratio of 27.73 and a beta of 1.62. The stock’s 50 day moving average price is $19.91 and its 200 day moving average price is $18.33.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.51%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s payout ratio is 208.22%.

Hedge Funds Weigh In On Plains All American Pipeline

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Plains All American Pipeline in the third quarter worth $27,000. Newbridge Financial Services Group Inc. acquired a new position in Plains All American Pipeline in the fourth quarter valued at $27,000. National Bank of Canada FI acquired a new position in Plains All American Pipeline in the fourth quarter valued at $27,000. Jones Financial Companies Lllp increased its stake in Plains All American Pipeline by 1,684.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after purchasing an additional 3,368 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in Plains All American Pipeline in the fourth quarter valued at $97,000. 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.