Plains All American Pipeline, L.P. (NYSE:PAA) Receives Consensus Rating of “Hold” from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.0909.

PAA has been the subject of a number of research reports. Barclays lifted their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $22.00 price target (down from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Finally, Morgan Stanley boosted their price objective on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th.

Institutional Trading of Plains All American Pipeline

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of Plains All American Pipeline by 76.1% during the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 761 shares in the last quarter. Mather Group LLC. purchased a new position in Plains All American Pipeline during the third quarter worth approximately $33,000. Caldwell Trust Co acquired a new stake in Plains All American Pipeline in the third quarter valued at approximately $38,000. Newbridge Financial Services Group Inc. grew its holdings in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 655 shares during the period. Finally, Aventura Private Wealth LLC acquired a new position in shares of Plains All American Pipeline during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Trading Up 1.9%

Shares of Plains All American Pipeline stock opened at $20.15 on Monday. The firm’s 50 day simple moving average is $18.62 and its two-hundred day simple moving average is $17.66. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 27.60 and a beta of 0.60. Plains All American Pipeline has a 12-month low of $15.57 and a 12-month high of $20.77. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, February 6th. The pipeline company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. Plains All American Pipeline’s revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Analysts predict that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a $0.4175 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.67 annualized dividend and a yield of 8.3%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. Plains All American Pipeline’s payout ratio is currently 100.60%.

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.