Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Rating of “Hold” by Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.4444.

Several research firms recently commented on PAA. Barclays reduced their price target on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research report on Tuesday, October 7th. Morgan Stanley raised their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Raymond James Financial reissued a “strong-buy” rating and issued a $22.00 price target (down from $24.00) on shares of Plains All American Pipeline in a report on Friday, October 24th. Finally, Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research note on Friday, January 16th.

Institutional Investors Weigh In On Plains All American Pipeline

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in Plains All American Pipeline by 76.1% in the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after buying an additional 761 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Plains All American Pipeline in the third quarter worth $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Plains All American Pipeline in the second quarter valued at $40,000. Caldwell Trust Co acquired a new stake in shares of Plains All American Pipeline during the third quarter valued at $38,000. Finally, Newbridge Financial Services Group Inc. increased its position in Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 655 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $19.11 on Thursday. Plains All American Pipeline has a 1 year low of $15.57 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $13.48 billion, a price-to-earnings ratio of 26.18 and a beta of 0.59. The stock’s 50-day moving average is $17.83 and its two-hundred day moving average is $17.57.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The company’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 earnings per share. Analysts predict that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.4175 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.7%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. Plains All American Pipeline’s payout ratio is currently 138.02%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.