Plains All American Pipeline Lp (NASDAQ:PAA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have received an average rating of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $25.43.

Several brokerages have issued reports on PAA. Citigroup increased their target price on Plains All American Pipeline from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, September 17th. Weiss Ratings upgraded Plains All American Pipeline from a “buy (b-)” rating to a “buy (b+)” rating in a research note on Tuesday, August 25th. Royal Bank Of Canada raised their price objective on Plains All American Pipeline from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, August 17th. Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Zacks Research raised shares of Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th.

Plains All American Pipeline Trading Down 0.9%

NASDAQ PAA opened at $24.42 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12. The company has a market capitalization of $17.23 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 8.55 and a beta of 0.52. The company’s 50-day simple moving average is $24.71 and its two-hundred day simple moving average is $23.12. Plains All American Pipeline has a one year low of $15.69 and a one year high of $26.39.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The business had revenue of $17.69 billion during the quarter. During the same period in the prior year, the company posted $0.36 EPS. The business’s quarterly revenue was up 66.3% on a year-over-year basis. Equities analysts forecast that Plains All American Pipeline will post 1.78 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.8%. Plains All American Pipeline’s dividend payout ratio is presently 46.26%.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after buying an additional 3,033,216 shares during the last quarter. BROOKFIELD Corp ON increased its holdings in shares of Plains All American Pipeline by 428.2% during the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock valued at $82,430,000 after acquiring an additional 2,992,549 shares in the last quarter. Infrastructure Capital Advisors LLC raised its position in shares of Plains All American Pipeline by 4.4% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 3,089,992 shares of the company’s stock valued at $69,000,000 after purchasing an additional 130,164 shares during the last quarter. Cohen & Steers Inc. boosted its stake in Plains All American Pipeline by 97.9% in the 4th quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock worth $44,941,000 after purchasing an additional 1,237,877 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Plains All American Pipeline by 1.9% in the 4th quarter. BNP Paribas Financial Markets now owns 1,684,860 shares of the company’s stock worth $30,260,000 after purchasing an additional 31,093 shares in the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

About Plains All American Pipeline

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides transportation, storage, gathering, logistics and related services for crude oil and natural gas liquids (NGLs). The company generally does not produce oil or gas; instead, it helps move and manage hydrocarbons from producing regions to refineries, processing facilities, export terminals and other end markets.

Plains operates an extensive network of pipelines, gathering systems, storage facilities, rail and truck transportation assets, and terminals.