Plains All American Pipeline, L.P. (NYSE:PAA) Receives $20.45 Consensus PT from Analysts

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have received an average rating of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $20.36.

A number of analysts recently issued reports on PAA shares. Raymond James reissued a “strong-buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Scotiabank lowered their price target on shares of Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a report on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, May 9th. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Finally, Mizuho decreased their price objective on shares of Plains All American Pipeline from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, May 20th.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA opened at $17.44 on Wednesday. The company’s fifty day moving average price is $17.18 and its 200 day moving average price is $18.42. Plains All American Pipeline has a 1 year low of $15.58 and a 1 year high of $21.00. The company has a market capitalization of $12.27 billion, a PE ratio of 23.89 and a beta of 0.66. 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 (NYSE:PAA) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same quarter in the previous year, the company earned $0.41 EPS. Plains All American Pipeline’s quarterly revenue was up .1% on a year-over-year basis. On average, research 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.72%. The ex-dividend date of this dividend was Thursday, May 1st. Plains All American Pipeline’s payout ratio is 163.44%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its position in shares of Plains All American Pipeline by 6.4% in the first quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company’s stock valued at $591,988,000 after buying an additional 1,771,452 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Plains All American Pipeline by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock valued at $422,894,000 after buying an additional 1,524,185 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Plains All American Pipeline by 7.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company’s stock valued at $329,279,000 after buying an additional 1,166,369 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Plains All American Pipeline by 0.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company’s stock valued at $227,539,000 after buying an additional 75,509 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Plains All American Pipeline by 8.7% in the fourth 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. 41.78% of the stock is currently 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.