Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $27.00

Plains All American Pipeline (NASDAQ:PAA) had its target price upped by JPMorgan Chase & Co. from $24.00 to $27.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on PAA. Weiss Ratings raised shares of Plains All American Pipeline from a “buy (b-)” rating to a “buy (b+)” rating in a research note on Tuesday, August 25th. Mizuho boosted their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and upped their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Wall Street Zen cut shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Citigroup boosted their price target on Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.08.

Plains All American Pipeline Stock Performance

NASDAQ PAA opened at $25.70 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Plains All American Pipeline has a fifty-two week low of $15.69 and a fifty-two week high of $25.97. The business has a fifty day moving average of $23.98 and a 200-day moving average of $22.66. The stock has a market cap of $18.13 billion, a price-to-earnings ratio of 7.12, a price-to-earnings-growth ratio of 8.89 and a beta of 0.52.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The company had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The firm’s revenue was up 66.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. As a group, analysts predict that Plains All American Pipeline will post 1.71 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is presently 46.26%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently bought and sold shares of PAA. Financial Life Planners acquired a new position in Plains All American Pipeline during the first quarter worth approximately $27,000. Allied Private Wealth LLC acquired a new position in shares of Plains All American Pipeline in the 2nd quarter valued at $33,000. Fulcrum Asset Management LLP acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $50,000. Geneos Wealth Management Inc. grew its stake in shares of Plains All American Pipeline by 93.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock valued at $78,000 after buying an additional 2,041 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $80,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

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.