Plains All Amer Price Target Increased to $65.00 by Analysts at Credit Suisse (PAA)
Research analysts at Credit Suisse upped their price target on shares of Plains All Amer (NYSE:PAA) from $62.00 to $65.00 in a report released on Friday, Analyst Ratings Network.com reports. Credit Suisse’s price target points to a potential upside of 13.70% from the stock’s previous close.
Shares of Plains All Amer (NYSE:PAA) opened at 57.17 on Friday. Plains All Amer has a 52 week low of $47.26 and a 52 week high of $59.52. The stock’s 50-day moving average is $55.89 and its 200-day moving average is $52.7. The company has a market cap of $20.576 billion and a price-to-earnings ratio of 20.37.
Plains All Amer (NYSE:PAA) last announced its earnings results on Wednesday, May 7th. The company reported $0.65 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.65. On average, analysts predict that Plains All Amer will post $2.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Investors of record on Thursday, May 22nd will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Plains All Amer’s previous quarterly dividend of $0.62.
PAA has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Plains All Amer in a research note on Monday, May 5th. They now have a $60.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Plains All Amer from $58.00 to $59.00 in a research note on Thursday, April 17th. They now have a “hold” rating on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of Plains All Amer from $59.00 to $60.00 in a research note on Friday, March 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $61.17.
Plains All American Pipeline, L.P. (NYSE:PAA) is engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids (NGL).
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