Plains All American Pipeline (NYSE:PAA) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Plains All American Pipeline (NYSE:PAA) in a research note published on Tuesday, Benzinga reports. The firm currently has a $19.00 target price on the pipeline company’s stock.

Other equities analysts have also issued reports about the company. TD Securities upped 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. Morgan Stanley upped their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the company an overweight rating in a report on Monday, June 10th. StockNews.com lowered Plains All American Pipeline from a strong-buy rating to a buy rating in a report on Thursday, May 2nd. Stifel Nicolaus upped 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. Finally, UBS Group increased their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $19.64.

Plains All American Pipeline Trading Up 0.2 %

Shares of NYSE PAA opened at $17.05 on Tuesday. The stock’s 50 day moving average price is $17.83 and its two-hundred day moving average price is $17.29. Plains All American Pipeline has a 52-week low of $14.25 and a 52-week high of $19.17. The stock has a market capitalization of $11.95 billion, a P/E ratio of 14.70 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 (NYSE:PAA) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $12.93 billion during the quarter, compared to analyst estimates of $12.32 billion. Plains All American Pipeline had a return on equity of 11.50% and a net margin of 2.07%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. On average, analysts anticipate that Plains All American Pipeline will post 1.35 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date is Wednesday, July 31st. Plains All American Pipeline’s payout ratio is currently 109.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $28,000. ORG Partners LLC lifted its position in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 730 shares during the last quarter. Evermay Wealth Management LLC acquired a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $35,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter valued at $46,000. 41.78% of the stock is owned by institutional investors.

About Plains All American Pipeline

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.