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

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have received a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $20.50.

A number of research analysts have recently weighed in on PAA shares. Citigroup cut their price target on Plains All American Pipeline from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $20.00 price target on shares of Plains All American Pipeline in a research note on Friday. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 9th. StockNews.com downgraded Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 9th.

Institutional Trading of Plains All American Pipeline

Several hedge funds and other institutional investors have recently modified their holdings of PAA. Farther Finance Advisors LLC raised its stake in shares of Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 657 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline in the 3rd quarter valued at about $27,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Plains All American Pipeline in the 4th quarter valued at about $27,000. National Bank of Canada FI acquired a new stake in shares of Plains All American Pipeline in the 4th quarter valued at about $27,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Plains All American Pipeline by 1,684.0% in the 4th 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 period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 0.2%

Shares of PAA opened at $17.25 on Friday. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 23.63 and a beta of 0.70. 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’s fifty day moving average price is $18.13 and its two-hundred day moving average price is $18.43. Plains All American Pipeline has a 52 week low of $15.58 and a 52 week high of $21.00.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. On average, analysts predict that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.81%. The ex-dividend date of this dividend was Thursday, May 1st. Plains All American Pipeline’s payout ratio is presently 163.44%.

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.