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

Plains All American Pipeline (NYSE:PAA) had its price target boosted by Stifel Nicolaus from $18.00 to $22.00 in a research report released on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the pipeline company’s stock.

A number of other research firms have also commented on PAA. Citigroup raised their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a research note on Friday, March 1st. UBS Group lifted their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a research note on Friday, April 12th. Truist Financial lifted their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Scotiabank initiated coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a sector outperform rating and a $23.00 price target on the stock. Finally, StockNews.com raised Plains All American Pipeline from a buy rating to a strong-buy rating in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Plains All American Pipeline has an average rating of Moderate Buy and an average price target of $18.96.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $17.94 on Tuesday. The firm has a market cap of $12.58 billion, a P/E ratio of 12.91 and a beta of 1.59. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 1-year low of $12.07 and a 1-year high of $19.03. The business’s 50 day moving average is $17.04 and its 200-day moving average is $15.95.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. Equities research analysts predict that Plains All American Pipeline will post 1.26 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is presently 91.37%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PAA. Future Financial Wealth Managment LLC bought a new position in shares of Plains All American Pipeline in the 1st quarter worth about $28,000. Sunbelt Securities Inc. bought a new position in shares of Plains All American Pipeline in the 1st quarter worth about $28,000. CENTRAL TRUST Co raised its position in shares of Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of Plains All American Pipeline in the 4th quarter worth about $39,000. Finally, Clear Street Markets LLC bought a new position in shares of Plains All American Pipeline in the 4th quarter worth about $45,000. 41.78% of the stock is owned by institutional investors and hedge funds.

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.