Plains All American Pipeline (NASDAQ:PAA) Stock Price Target Raised at Barclays

Plains All American Pipeline (NASDAQ:PAA) had its price target boosted by Barclays from $24.00 to $25.00 in a research report released on Wednesday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Truist Financial lifted their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. JPMorgan Chase & Co. increased their price objective on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Raymond James Financial reissued a “strong-buy” rating and issued a $28.00 price objective on shares of Plains All American Pipeline in a research report on Monday, October 19th. Royal Bank Of Canada raised their target price on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, August 17th. Finally, UBS Group lifted their target price on shares of Plains All American Pipeline from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and an average price target of $26.27.

Plains All American Pipeline Stock Performance

Shares of NASDAQ PAA opened at $24.14 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.10 and a debt-to-equity ratio of 0.84. Plains All American Pipeline has a 12 month low of $16.50 and a 12 month high of $26.98. The stock has a 50 day moving average of $25.11 and a 200-day moving average of $23.01. The company has a market capitalization of $17.03 billion, a P/E ratio of 8.05, a P/E/G ratio of 9.09 and a beta of 0.58.

Plains All American Pipeline (NASDAQ:PAA) last posted its earnings results on Friday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.44). Plains All American Pipeline had a return on equity of 12.56% and a net margin of 4.81%. The business had revenue of $15.17 billion for the quarter. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The company’s revenue was up 31.1% compared to the same quarter last year. As a group, equities research analysts predict that Plains All American Pipeline will post 1.60 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Friday, October 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 55.67%.

Institutional Trading of Plains All American Pipeline

Institutional investors have recently added to or reduced their stakes in the company. BROOKFIELD Corp ON grew its holdings in Plains All American Pipeline by 428.2% in the 1st quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock valued at $82,430,000 after buying an additional 2,992,549 shares in the last quarter. Infrastructure Capital Advisors LLC increased its position in Plains All American Pipeline by 4.4% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 3,089,992 shares of the company’s stock worth $69,000,000 after buying an additional 130,164 shares during the period. Bollard Group LLC increased its position in Plains All American Pipeline by 7.7% during the 1st quarter. Bollard Group LLC now owns 1,215,856 shares of the company’s stock worth $27,150,000 after buying an additional 86,602 shares during the period. NEOS Investment Management LLC lifted its holdings in shares of Plains All American Pipeline by 34.6% during the second quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock worth $17,250,000 after buying an additional 199,296 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Plains All American Pipeline in the first quarter valued at about $16,819,000. 41.78% of the stock is currently owned by institutional investors.

About Plains All American Pipeline

Plains All American Pipeline, L.P. is a midstream energy company focused on the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs). Its infrastructure includes pipelines, gathering systems, storage facilities, and terminals. The company’s systems connect energy-producing regions with refineries and other markets, serving producers, refiners, and other energy customers. Its operations span the United States and Canada. Plains All American Pipeline operates as a master limited partnership and is listed under the ticker symbol PAA.