Plains All American Pipeline (NYSE:PAA) Price Target Raised to $23.00 at Morgan Stanley

Plains All American Pipeline (NYSE:PAA) had its price objective boosted by Morgan Stanley from $19.00 to $23.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the pipeline company’s stock.

Other equities analysts have also issued research reports about the stock. Raymond James boosted their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Barclays lifted their target price on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Scotiabank cut their price target on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Finally, Wolfe Research upgraded shares of 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 research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.23.

Plains All American Pipeline Stock Up 0.0 %

Shares of NYSE PAA opened at $20.18 on Tuesday. The company’s 50 day moving average price is $19.97 and its 200-day moving average price is $18.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline has a 52-week low of $16.21 and a 52-week high of $21.00. The company has a market capitalization of $14.20 billion, a P/E ratio of 27.64 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a dividend yield of 7.53%. Plains All American Pipeline’s payout ratio is presently 208.22%.

Hedge Funds Weigh In On Plains All American Pipeline

Several large investors have recently added to or reduced their stakes in PAA. Invesco Ltd. increased its holdings in Plains All American Pipeline by 4.6% during the 4th quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock worth $475,301,000 after purchasing an additional 1,224,381 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Plains All American Pipeline by 8.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock valued at $261,283,000 after buying an additional 1,211,286 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Plains All American Pipeline by 0.6% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company’s stock worth $227,539,000 after buying an additional 75,509 shares in the last quarter. JPMorgan Chase & Co. raised its position in Plains All American Pipeline by 8.7% in the 4th quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock valued at $134,107,000 after buying an additional 630,141 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Plains All American Pipeline by 30.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,936,982 shares of the pipeline company’s stock valued at $92,470,000 after acquiring an additional 1,162,933 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

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.