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

Plains All American Pipeline, L.P. (NYSE:PAA) has received a consensus rating of “Hold” from the twelve analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.5455.

A number of equities research analysts have weighed in on PAA shares. Barclays cut their target price on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, October 7th. Morgan Stanley lowered their target price on Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. JPMorgan Chase & Co. decreased their target price on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Raymond James Financial reiterated a “strong-buy” rating and set a $22.00 price objective (down from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Plains All American Pipeline in a research report on Friday, July 25th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PAA. Invesco Ltd. grew its position in Plains All American Pipeline by 10.1% in the second quarter. Invesco Ltd. now owns 32,602,733 shares of the pipeline company’s stock worth $597,282,000 after acquiring an additional 3,003,351 shares in the last quarter. BROOKFIELD Corp ON lifted its stake in shares of Plains All American Pipeline by 50.2% in the 1st 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. Alps Advisors Inc. boosted its holdings in Plains All American Pipeline by 2.2% in the third quarter. Alps Advisors Inc. now owns 76,066,823 shares of the pipeline company’s stock worth $1,297,700,000 after purchasing an additional 1,663,908 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Plains All American Pipeline by 7.8% during the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock worth $422,894,000 after buying an additional 1,524,185 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Plains All American Pipeline by 7.6% during 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 in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $16.63 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The firm has a 50-day simple moving average of $16.88 and a 200 day simple moving average of $17.46. 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 market cap of $11.70 billion, a PE ratio of 22.78 and a beta of 0.74.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, sell-side analysts anticipate that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.1%. The ex-dividend date is Friday, October 31st. Plains All American Pipeline’s dividend payout ratio is currently 125.62%.

Plains All American Pipeline Company Profile

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.