Stifel Nicolaus Raises Plains All American Pipeline (NYSE:PAA) Price Target to $22.00

Plains All American Pipeline (NYSE:PAA) had its price objective upped by Stifel Nicolaus from $18.00 to $22.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

Other research analysts also recently issued reports about the stock. Scotiabank started coverage on shares of Plains All American Pipeline in a research report on Monday, April 8th. They set a sector outperform rating and a $23.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a research report on Friday, April 12th. StockNews.com upgraded shares of Plains All American Pipeline from a buy rating to a strong-buy rating in a research report on Friday, March 22nd. Citigroup boosted their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a research report on Friday, March 1st. Finally, UBS Group upped their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $18.96.

Plains All American Pipeline Trading Up 1.9 %

NYSE:PAA opened at $17.69 on Tuesday. Plains All American Pipeline has a 12 month low of $12.07 and a 12 month high of $19.03. The firm has a fifty day simple moving average of $16.99 and a 200-day simple moving average of $15.93. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $12.40 billion, a P/E ratio of 12.73 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, equities research analysts anticipate that Plains All American Pipeline will post 1.26 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.18%. Plains All American Pipeline’s dividend payout ratio is currently 91.37%.

Institutional Trading of Plains All American Pipeline

A number of institutional investors and hedge funds have recently modified their holdings of PAA. Future Financial Wealth Managment LLC purchased a new stake in shares of Plains All American Pipeline during the first quarter worth about $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Plains All American Pipeline during the first quarter worth about $28,000. CENTRAL TRUST Co grew its stake in Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after acquiring an additional 1,700 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in Plains All American Pipeline during the 4th quarter valued at about $39,000. Finally, Clear Street Markets LLC purchased a new stake in Plains All American Pipeline during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.