Plains All American Pipeline, L.P. (PAA) Receives Average Recommendation of “Buy” from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has been assigned a consensus rating of “Buy” from the twenty-two ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $28.06.

Several research analysts have recently weighed in on PAA shares. Stifel Nicolaus upped their target price on shares of Plains All American Pipeline from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Wednesday, August 8th. ValuEngine upgraded shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. SunTrust Banks restated a “buy” rating and issued a $29.00 target price on shares of Plains All American Pipeline in a research note on Thursday, August 9th. TheStreet downgraded shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a research note on Wednesday, August 8th. Finally, BMO Capital Markets restated a “buy” rating and issued a $29.00 target price on shares of Plains All American Pipeline in a research note on Monday, August 13th.

Shares of PAA stock opened at $23.03 on Monday. The firm has a market capitalization of $16.73 billion, a PE ratio of 24.50, a PEG ratio of 1.52 and a beta of 0.91. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 1.01. Plains All American Pipeline has a twelve month low of $18.38 and a twelve month high of $27.70.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $7.82 billion. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.72%. The business’s quarterly revenue was up 49.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, research analysts predict that Plains All American Pipeline will post 1.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.21%. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.66%.

A number of hedge funds and other institutional investors have recently bought and sold shares of PAA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Plains All American Pipeline during the 2nd quarter valued at $179,640,000. Tortoise Capital Advisors L.L.C. boosted its stake in Plains All American Pipeline by 21.2% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 36,218,579 shares of the pipeline company’s stock valued at $905,827,000 after acquiring an additional 6,343,995 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Plains All American Pipeline during the 3rd quarter valued at $73,275,000. Alps Advisors Inc. boosted its stake in Plains All American Pipeline by 7.0% during the 3rd quarter. Alps Advisors Inc. now owns 37,545,329 shares of the pipeline company’s stock valued at $939,009,000 after acquiring an additional 2,450,636 shares during the last quarter. Finally, Virtus ETF Advisers LLC bought a new position in Plains All American Pipeline during the 3rd quarter valued at $33,141,000. Hedge funds and other institutional investors own 47.15% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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