Plains All American Pipeline (NYSE:PAA) Price Target Lowered to $20.00 at Mizuho

Plains All American Pipeline (NYSE:PAA) had its price objective trimmed by Mizuho from $21.00 to $20.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the pipeline company’s stock.

Other equities analysts have also issued research reports about the stock. Barclays reiterated an “underweight” rating and set a $18.00 price objective on shares of Plains All American Pipeline in a research report on Friday, May 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, May 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $20.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 16th. Raymond James reissued a “strong-buy” rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Scotiabank lowered their price objective on Plains All American Pipeline from $21.00 to $20.00 and set a “sector outperform” rating for the company in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.45.

Plains All American Pipeline Stock Performance

NYSE:PAA opened at $17.00 on Tuesday. 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 stock has a 50-day simple moving average of $18.03 and a two-hundred day simple moving average of $18.45. The firm has a market capitalization of $11.96 billion, a PE ratio of 23.29 and a beta of 0.70. 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 announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. Analysts forecast that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were paid a $0.38 dividend. The ex-dividend date was Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.94%. Plains All American Pipeline’s dividend payout ratio is presently 163.44%.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC purchased a new position in Plains All American Pipeline in the 4th quarter valued at $1,708,000. PFG Investments LLC raised its position in shares of Plains All American Pipeline by 47.0% in the fourth quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock valued at $771,000 after buying an additional 14,432 shares during the last quarter. Caprock Group LLC purchased a new position in shares of Plains All American Pipeline in the fourth quarter worth about $591,000. Clarus Group Inc. lifted its stake in shares of Plains All American Pipeline by 30.5% in the fourth quarter. Clarus Group Inc. now owns 91,527 shares of the pipeline company’s stock worth $1,563,000 after buying an additional 21,400 shares in the last quarter. Finally, Stephens Inc. AR boosted its position in Plains All American Pipeline by 15.7% during the fourth quarter. Stephens Inc. AR now owns 110,735 shares of the pipeline company’s stock worth $1,891,000 after acquiring an additional 15,049 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.