Plains All American Pipeline (NYSE:PAA) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Plains All American Pipeline (NYSE:PAA) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.

PAA has been the subject of a number of other reports. Stifel Nicolaus raised their price objective on shares of 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. UBS Group raised their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a report on Friday, April 12th. Citigroup raised their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a report on Friday, March 1st. Truist Financial raised their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group raised their price target 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. Two analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $18.96.

Plains All American Pipeline Stock Down 1.1 %

Shares of NYSE PAA opened at $17.87 on Wednesday. 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 firm has a fifty day simple moving average of $17.27 and a two-hundred day simple moving average of $16.07. The firm has a market capitalization of $12.53 billion, a PE ratio of 12.86 and a beta of 1.59. Plains All American Pipeline has a 12 month low of $12.07 and a 12 month high of $19.03.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. Plains All American Pipeline’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. Equities analysts expect that Plains All American Pipeline will post 1.27 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is 91.37%.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK bought a new stake in Plains All American Pipeline during the 4th quarter worth approximately $4,234,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Plains All American Pipeline by 9.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after acquiring an additional 1,135,737 shares during the period. ING Groep NV raised its stake in Plains All American Pipeline by 12.2% during the 3rd quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock worth $46,628,000 after acquiring an additional 332,000 shares during the period. DAVENPORT & Co LLC bought a new stake in Plains All American Pipeline during the 4th quarter worth approximately $182,000. Finally, Envestnet Asset Management Inc. raised its stake in Plains All American Pipeline by 374.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock worth $3,522,000 after acquiring an additional 181,484 shares during the period. Institutional investors own 41.78% of the company’s stock.

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.