Analysts Set Plains All American Pipeline, L.P. (NYSE:PAA) PT at $18.96

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $18.96.

Several brokerages have recently commented on PAA. Stifel Nicolaus raised their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup raised 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. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Truist Financial upped their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in Plains All American Pipeline by 14.8% in the 3rd quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 674 shares in the last quarter. Clarus Group Inc. lifted its stake in shares of Plains All American Pipeline by 1.0% during the first quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock worth $1,221,000 after buying an additional 682 shares during the period. Covenant Asset Management LLC increased its position in shares of Plains All American Pipeline by 3.7% in the 1st quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock valued at $387,000 after acquiring an additional 795 shares during the period. First National Trust Co raised its stake in Plains All American Pipeline by 10.1% in the 4th quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock worth $171,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Plains All American Pipeline by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock worth $1,411,000 after acquiring an additional 1,089 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $17.49 on Tuesday. The company has a market capitalization of $12.26 billion, a P/E ratio of 12.58 and a beta of 1.58. The company’s 50-day simple moving average is $17.37 and its two-hundred day simple moving average is $16.14. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. Plains All American Pipeline’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, equities analysts anticipate that Plains All American Pipeline will post 1.32 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 91.37%.

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.