Brokerages Set Plains All American Pipeline, L.P. (NYSE:PAA) Price Target at $20.45

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.36.

Several equities research analysts have recently weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Barclays reiterated an “underweight” rating and set a $18.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 9th. Morgan Stanley reiterated an “equal weight” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $20.00 price objective on shares of Plains All American Pipeline in a research note on Friday, May 16th. Finally, Raymond James reiterated a “strong-buy” rating on shares of Plains All American Pipeline in a research note on Friday, May 9th.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $17.44 on Wednesday. The firm has a 50-day moving average price of $17.18 and a 200-day moving average price of $18.41. The firm has a market capitalization of $12.27 billion, a PE ratio of 23.89 and a beta of 0.66. 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 has a 12-month low of $15.58 and a 12-month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts forecast that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.72%. The ex-dividend date was Thursday, May 1st. Plains All American Pipeline’s payout ratio is 163.44%.

Hedge Funds Weigh In On Plains All American Pipeline

Several hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of Plains All American Pipeline by 6.4% in the 1st quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company’s stock valued at $591,988,000 after acquiring an additional 1,771,452 shares during the period. Goldman Sachs Group Inc. grew its position in Plains All American Pipeline by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock worth $422,894,000 after purchasing an additional 1,524,185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Plains All American Pipeline by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company’s stock worth $329,279,000 after purchasing an additional 1,166,369 shares during the period. Tortoise Capital Advisors L.L.C. grew its position in Plains All American Pipeline by 0.6% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company’s stock worth $227,539,000 after purchasing an additional 75,509 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Plains All American Pipeline by 8.7% during the 4th quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock worth $134,107,000 after purchasing an additional 630,141 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.