Mizuho Analysts Give Plains All American Pipeline (NYSE:PAA) a $22.00 Price Target

Mizuho set a $22.00 price objective on Plains All American Pipeline (NYSE:PAA) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm currently has an outperform rating on the pipeline company’s stock.

Other equities analysts have also recently issued reports about the stock. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Scotiabank cut their price target on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, June 5th. Morgan Stanley reissued 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. JPMorgan Chase & Co. raised their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Barclays restated an “underweight” rating and set a $18.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.50.

Plains All American Pipeline Stock Up 0.2%

NYSE PAA opened at $18.44 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a fifty-two week low of $15.58 and a fifty-two week high of $21.00. The business has a 50 day moving average price of $17.32 and a two-hundred day moving average price of $18.41. The stock has a market cap of $12.97 billion, a PE ratio of 25.26 and a beta of 0.66.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.39 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%. Plains All American Pipeline’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. As a group, sell-side analysts predict that Plains All American Pipeline will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.24%. Plains All American Pipeline’s dividend payout ratio (DPR) is 163.44%.

Hedge Funds Weigh In On Plains All American Pipeline

Several large investors have recently added to or reduced their stakes in the company. BROOKFIELD Corp ON increased its stake in Plains All American Pipeline by 50.2% during the first quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company’s stock valued at $113,967,000 after purchasing an additional 1,904,261 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Plains All American Pipeline by 1.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,621,174 shares of the pipeline company’s stock valued at $32,419,000 after buying an additional 25,978 shares during the period. Belpointe Asset Management LLC acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at about $216,000. SCS Capital Management LLC bought a new stake in shares of Plains All American Pipeline during the 1st quarter valued at about $699,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Plains All American Pipeline by 7.8% during the 1st 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. 41.78% of the stock is currently owned by institutional investors.

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.