Plains All American Pipeline Lp (NASDAQ:PAA) Given Average Recommendation of “Hold” by Analysts

Plains All American Pipeline Lp (NASDAQ:PAA) has been given a consensus rating of “Hold” by the eighteen ratings firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $22.9231.

PAA has been the topic of several analyst reports. Barclays increased their target price on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. Zacks Research lowered Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Friday, April 17th. Finally, Morgan Stanley increased their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds have recently bought and sold shares of PAA. CIBC Bancorp USA Inc. bought a new stake in Plains All American Pipeline in the 3rd quarter valued at $87,462,000. Goldman Sachs Group Inc. lifted its stake in shares of Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after buying an additional 3,033,216 shares during the period. BROOKFIELD Corp ON grew its position in 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 worth $82,430,000 after buying an additional 2,992,549 shares in the last quarter. Morgan Stanley grew its position in Plains All American Pipeline by 40.2% during the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after buying an additional 2,833,161 shares in the last quarter. Finally, Berkley W R Corp bought a new position in Plains All American Pipeline during the third quarter valued at about $32,871,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $23.35 on Thursday. Plains All American Pipeline has a fifty-two week low of $15.69 and a fifty-two week high of $24.26. The stock’s 50-day moving average is $22.57 and its two-hundred day moving average is $21.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The firm has a market cap of $16.47 billion, a P/E ratio of 17.82, a PEG ratio of 10.90 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The business had revenue of $12.47 billion for the quarter. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts predict that Plains All American Pipeline will post 1.55 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a $0.4175 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 7.2%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.48%.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.