Plains All American Pipeline, L.P. (NYSE:PAA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have earned an average rating of “Hold” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $20.60.

A number of analysts recently commented on PAA shares. Raymond James Financial reiterated a “strong-buy” rating and set a $22.00 price objective (down previously from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Scotiabank reduced their target price on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 13th. Barclays decreased their price objective on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, October 7th. Morgan Stanley increased their target price on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 18th.

Plains All American Pipeline Trading Down 0.6%

NYSE:PAA opened at $17.55 on Friday. The company has a market capitalization of $12.38 billion, a PE ratio of 24.04 and a beta of 0.59. The stock’s 50 day moving average price is $16.96 and its 200 day moving average price is $17.50. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 52-week low of $15.57 and a 52-week high of $21.00.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same period last year, the business posted $0.37 EPS. The company’s revenue was down 7.0% on a year-over-year basis. On average, research analysts anticipate that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend was Friday, October 31st. Plains All American Pipeline’s dividend payout ratio is currently 125.62%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds have recently added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC raised its holdings in shares of Plains All American Pipeline by 1.5% during the third quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the pipeline company’s stock valued at $698,000 after buying an additional 601 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Plains All American Pipeline by 0.8% during the second quarter. Apollon Wealth Management LLC now owns 80,515 shares of the pipeline company’s stock worth $1,475,000 after buying an additional 628 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Plains All American Pipeline by 5.2% during the 2nd quarter. HB Wealth Management LLC now owns 15,247 shares of the pipeline company’s stock worth $279,000 after acquiring an additional 748 shares in the last quarter. Blue Trust Inc. increased its stake in Plains All American Pipeline by 76.1% in the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 761 shares in the last quarter. Finally, Clarus Group Inc. raised its holdings in shares of Plains All American Pipeline by 0.9% during the second quarter. Clarus Group Inc. now owns 93,131 shares of the pipeline company’s stock valued at $1,706,000 after acquiring an additional 801 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.