Plains All American Pipeline, L.P. (NYSE:PAA) Receives $19.42 Average Price Target from Brokerages

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been given an average recommendation of “Hold” by the eleven ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $19.55.

A number of analysts have recently weighed in on PAA shares. The Goldman Sachs Group upped their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Citigroup upped their price objective on Plains All American Pipeline from $17.50 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Morgan Stanley upped their price objective on Plains All American Pipeline from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. TD Securities increased their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company a “hold” rating in a report on Monday, May 6th. Finally, Stifel Nicolaus increased their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th.

Hedge Funds Weigh In On Plains All American Pipeline

Large investors have recently bought and sold shares of the stock. Blackstone Inc. boosted its stake in shares of Plains All American Pipeline by 1.4% during the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock worth $413,345,000 after buying an additional 318,944 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after buying an additional 1,135,737 shares during the period. UBS Group AG boosted its stake in shares of Plains All American Pipeline by 89.3% during the fourth quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock worth $129,630,000 after buying an additional 4,035,328 shares during the period. Eagle Global Advisors LLC boosted its stake in shares of Plains All American Pipeline by 1.8% during the fourth quarter. Eagle Global Advisors LLC now owns 3,931,137 shares of the pipeline company’s stock worth $59,557,000 after buying an additional 68,810 shares during the period. Finally, ING Groep NV boosted its stake in shares of Plains All American Pipeline by 1.9% during the fourth quarter. ING Groep NV now owns 3,100,600 shares of the pipeline company’s stock worth $47,005,000 after buying an additional 57,000 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 0.5 %

Shares of NYSE PAA opened at $18.83 on Friday. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 13.17 and a beta of 1.61. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 52-week low of $14.25 and a 52-week high of $19.12. The business’s 50 day moving average is $17.57 and its two-hundred day moving average is $17.01.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. Research analysts predict that Plains All American Pipeline will post 1.32 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.3175 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.27 annualized dividend and a yield of 6.74%. Plains All American Pipeline’s dividend payout ratio is presently 109.48%.

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.