Wells Fargo & Company Issues Positive Forecast for Plains All American Pipeline (NASDAQ:PAA) Stock Price

Plains All American Pipeline (NASDAQ:PAA) had its target price upped by Wells Fargo & Company from $22.00 to $23.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently weighed in on PAA. Truist Financial assumed coverage on Plains All American Pipeline in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target for the company. Zacks Research cut Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Scotiabank boosted their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Bank of America lowered Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research note on Wednesday, January 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.23.

Plains All American Pipeline Price Performance

PAA stock opened at $21.94 on Tuesday. Plains All American Pipeline has a 1-year low of $15.69 and a 1-year high of $23.04. The business has a fifty day simple moving average of $21.81. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $15.48 billion, a PE ratio of 16.75, a P/E/G ratio of 2.75 and a beta of 0.51.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business had revenue of $12.47 billion during the quarter. During the same period in the prior year, the company earned $0.39 EPS. Plains All American Pipeline’s revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Plains All American Pipeline will post 1.69 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Friday, May 1st. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Plains All American Pipeline in the 3rd quarter worth $87,462,000. Goldman Sachs Group Inc. raised its stake in shares of Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after buying an additional 3,033,216 shares during the last quarter. Morgan Stanley increased its stake in shares of Plains All American Pipeline by 40.2% in the 4th quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock valued at $177,467,000 after purchasing an additional 2,833,161 shares in the last quarter. Berkley W R Corp purchased a new position in shares of Plains All American Pipeline in the 3rd quarter valued at about $32,871,000. Finally, Alps Advisors Inc. boosted its holdings in Plains All American Pipeline by 2.2% in the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock worth $1,297,700,000 after buying an additional 1,663,908 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.