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

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have been assigned a consensus rating of “Hold” from the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $22.9286.

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Scotiabank raised their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Morgan Stanley raised their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th. Finally, Barclays lifted their price target on shares of 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 Stock Performance

Shares of Plains All American Pipeline stock opened at $22.44 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. Plains All American Pipeline has a 52-week low of $15.69 and a 52-week high of $24.26. The company has a market capitalization of $15.83 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 10.29 and a beta of 0.50. The business has a 50 day moving average price of $22.36.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results 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). Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The firm had revenue of $12.47 billion during the quarter. During the same quarter last year, the company earned $0.39 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Plains All American Pipeline will post 1.56 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.4175 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.67 annualized dividend and a yield of 7.4%. Plains All American Pipeline’s payout ratio is 127.48%.

Institutional Trading of Plains All American Pipeline

Several large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in Plains All American Pipeline by 0.7% in the fourth quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock valued at $601,818,000 after acquiring an additional 228,106 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after acquiring an additional 3,033,216 shares in the last quarter. Morgan Stanley boosted its holdings in Plains All American Pipeline by 40.2% in the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock valued at $177,467,000 after acquiring an additional 2,833,161 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in Plains All American Pipeline by 2.9% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock valued at $171,377,000 after acquiring an additional 265,555 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock valued at $122,814,000 after acquiring an additional 967,059 shares in 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.