Plains All American Pipeline Lp (NASDAQ:PAA) Receives $23.23 Consensus Target Price from Brokerages

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have received a consensus recommendation of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $23.2308.

Several brokerages recently commented on PAA. Barclays upped their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Scotiabank boosted their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Truist Financial upped their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Mizuho increased their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $18.00 to $24.00 in a research note on Wednesday, June 3rd.

Institutional Investors Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. increased its holdings in shares of Plains All American Pipeline by 1.6% in the 1st quarter. D.A. Davidson & CO. now owns 28,439 shares of the company’s stock worth $635,000 after buying an additional 453 shares during the last quarter. Summit Financial LLC lifted its holdings in shares of Plains All American Pipeline by 1.0% during the 4th quarter. Summit Financial LLC now owns 61,265 shares of the company’s stock worth $1,100,000 after acquiring an additional 599 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after acquiring an additional 655 shares during the last quarter. Symphony Financial Services Inc. grew its position in Plains All American Pipeline by 1.4% in the fourth quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company’s stock worth $943,000 after acquiring an additional 715 shares in the last quarter. Finally, Sippican Capital Advisors grew its position in Plains All American Pipeline by 2.4% in the fourth quarter. Sippican Capital Advisors now owns 32,800 shares of the company’s stock worth $589,000 after acquiring an additional 775 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 1.6%

Shares of PAA opened at $23.17 on Monday. The stock’s 50-day moving average price is $22.97 and its two-hundred day moving average price is $21.91. Plains All American Pipeline has a 12 month low of $15.69 and a 12 month high of $25.03. The company has a market capitalization of $16.35 billion, a PE ratio of 17.69, a PEG ratio of 7.91 and a beta of 0.50. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Plains All American Pipeline will post 1.83 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.4175 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 7.2%. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.48%.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.