Plains All American Pipeline, L.P. (NYSE:PAA) Given Consensus Rating of “Hold” by Analysts

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have received an average rating of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $20.4444.

A number of research firms have recently weighed in on PAA. Morgan Stanley increased their price objective 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. Raymond James Financial reissued a “strong-buy” rating and set a $22.00 price target (down previously from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. JPMorgan Chase & Co. decreased their price objective on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 18th. Barclays lowered 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. Finally, Scotiabank cut 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 research note on Thursday, November 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PAA. Alps Advisors Inc. increased its position in shares of Plains All American Pipeline by 2.2% during the third quarter. Alps Advisors Inc. now owns 76,066,823 shares of the pipeline company’s stock valued at $1,297,700,000 after buying an additional 1,663,908 shares during the period. Invesco Ltd. boosted its position in Plains All American Pipeline by 2.1% during the 3rd quarter. Invesco Ltd. now owns 33,280,692 shares of the pipeline company’s stock valued at $567,769,000 after acquiring an additional 677,959 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Plains All American Pipeline by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the pipeline company’s stock worth $122,814,000 after acquiring an additional 967,059 shares in the last quarter. BROOKFIELD Corp ON boosted its position in shares of Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company’s stock valued at $124,112,000 after purchasing an additional 1,076,291 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at $87,462,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $19.06 on Thursday. The company has a 50-day simple moving average of $17.57 and a two-hundred day simple moving average of $17.54. Plains All American Pipeline has a 12-month low of $15.57 and a 12-month high of $21.00. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 26.11 and a beta of 0.59. 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 (NYSE:PAA) last released its earnings results 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 return on equity of 11.69% and a net margin of 1.54%.The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a $0.4175 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.8%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. Plains All American Pipeline’s dividend payout ratio is 138.02%.

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.