Plains All American Pipeline Lp (NASDAQ:PAA) Receives Average Recommendation of “Hold” from Brokerages

Plains All American Pipeline Lp (NASDAQ:PAA) has been assigned an average recommendation of “Hold” from the sixteen brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $22.3846.

PAA has been the topic of several research analyst reports. UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Mizuho set a $23.00 price target on Plains All American Pipeline in a report on Friday, January 23rd. Bank of America cut Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Wednesday, January 28th. Finally, Barclays increased their price target on Plains All American Pipeline from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Friday, April 10th.

Plains All American Pipeline Trading Up 1.9%

PAA stock opened at $23.62 on Wednesday. The company has a market cap of $16.66 billion, a PE ratio of 18.03, a PEG ratio of 2.98 and a beta of 0.51. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $23.64. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The company has a 50 day simple moving average of $21.92.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, research analysts predict that Plains All American Pipeline will post 1.64 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently modified their holdings of the company. Texas Yale Capital Corp. lifted its holdings in shares of Plains All American Pipeline by 10.4% during the 3rd quarter. Texas Yale Capital Corp. now owns 637,343 shares of the company’s stock valued at $10,873,000 after buying an additional 60,000 shares during the period. Citigroup Inc. increased its stake in shares of Plains All American Pipeline by 17.8% in the 3rd quarter. Citigroup Inc. now owns 535,200 shares of the company’s stock worth $9,131,000 after purchasing an additional 80,788 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 company’s stock worth $122,814,000 after purchasing an additional 967,059 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Plains All American Pipeline by 75.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 125,525 shares of the company’s stock worth $2,092,000 after purchasing an additional 54,171 shares in the last quarter. Finally, Berkley W R Corp purchased a new stake in shares of Plains All American Pipeline in the 3rd quarter worth $32,871,000. 41.78% of the stock is owned by institutional investors.

About Plains All American Pipeline

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.