Barclays Increases Plains All American Pipeline, L.P. Price Target to $63.00 (PAA)
Investment analysts at Barclays boosted their price objective on shares of Plains All American Pipeline, L.P. (NYSE:PAA) from $62.00 to $63.00 in a note issued to investors on Friday. Barclays’ price target suggests a potential upside of 11.45% from the stock’s previous close.
Shares of Plains All American Pipeline, L.P. (NYSE:PAA) remained flat at $56.53 during during mid-day trading trading on Friday. The stock had a trading volume of 577,019 shares. Plains All American Pipeline, L.P. has a 52 week low of $47.26 and a 52 week high of $60.60. The stock’s 50-day moving average is $58.51 and its 200-day moving average is $55.79. The company has a market cap of $20.633 billion and a P/E ratio of 26.26. Plains All American Pipeline, L.P. also saw some unusual options trading on Tuesday. Stock traders bought 263 put options on the stock. This is an increase of approximately 293% compared to the typical volume of 67 put options.
Plains All American Pipeline, L.P. (NYSE:PAA) last released its earnings data on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.50. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.53 billion. During the same quarter last year, the company posted $0.56 earnings per share. Plains All American Pipeline, L.P.’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Plains All American Pipeline, L.P. will post $2.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Friday, August 1st will be given a dividend of $0.645 per share. This represents a $2.58 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Wednesday, July 30th. This is an increase from Plains All American Pipeline, L.P.’s previous quarterly dividend of $0.63.
A number of other firms have also recently commented on PAA. Analysts at Credit Suisse raised their price target on shares of Plains All American Pipeline, L.P. from $65.00 to $66.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Plains All American Pipeline, L.P. in a research note on Friday. They now have a $59.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, July 23rd. They now have a $66.00 price target on the stock, up previously from $60.00. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Plains All American Pipeline, L.P. presently has a consensus rating of “Buy” and an average target price of $62.29.
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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