Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Rating of “Hold” by Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has received an average rating of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $20.4444.

Several analysts recently issued reports on PAA shares. Barclays dropped their price objective on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, October 7th. Morgan Stanley upped their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 25th. Raymond James Financial reiterated a “strong-buy” rating and set a $22.00 price objective (down previously from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Finally, Scotiabank reissued an “outperform” rating on shares of Plains All American Pipeline in a research note on Friday.

Plains All American Pipeline Trading Up 1.8%

Shares of PAA stock opened at $19.40 on Thursday. Plains All American Pipeline has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. 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’s fifty day moving average is $17.74 and its two-hundred day moving average is $17.55. The firm has a market capitalization of $13.69 billion, a P/E ratio of 26.58 and a beta of 0.59.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. Plains All American Pipeline’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 earnings per share. Research analysts expect that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.4175 dividend. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date of this dividend is Friday, January 30th. Plains All American Pipeline’s payout ratio is currently 138.02%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of institutional investors have recently bought and sold shares of PAA. Alps Advisors Inc. grew its stake in shares of Plains All American Pipeline by 2.2% in the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the pipeline company’s stock valued at $1,297,700,000 after buying an additional 1,663,908 shares during the period. Invesco Ltd. lifted its holdings in Plains All American Pipeline by 2.1% in the third quarter. Invesco Ltd. now owns 33,280,692 shares of the pipeline company’s stock valued at $567,769,000 after acquiring an additional 677,959 shares during the last quarter. JPMorgan Chase & Co. grew its position in Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the pipeline company’s stock worth $122,814,000 after acquiring an additional 967,059 shares during the period. BROOKFIELD Corp ON increased its stake in Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company’s stock worth $124,112,000 after acquiring an additional 1,076,291 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in Plains All American Pipeline in the third quarter valued at $87,462,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.