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

Plains All American Pipeline Lp (NASDAQ:PAA) has been given an average recommendation of “Hold” by the eighteen research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $22.9286.

Several analysts have issued reports on PAA shares. US Capital Advisors downgraded Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. 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. Citigroup lifted their target price on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Finally, Mizuho upped their price target on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, June 8th.

Institutional Trading of Plains All American Pipeline

A number of hedge funds have recently modified their holdings of PAA. D.A. Davidson & CO. boosted its position in shares of Plains All American Pipeline by 1.6% in the first quarter. D.A. Davidson & CO. now owns 28,439 shares of the company’s stock worth $635,000 after buying an additional 453 shares during the period. Summit Financial LLC raised its position in Plains All American Pipeline by 1.0% during the fourth quarter. Summit Financial LLC now owns 61,265 shares of the company’s stock valued at $1,100,000 after buying an additional 599 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after acquiring an additional 655 shares in the last quarter. Symphony Financial Services Inc. boosted its position in Plains All American Pipeline by 1.4% during the 4th quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company’s stock worth $943,000 after acquiring an additional 715 shares during the period. Finally, Sippican Capital Advisors boosted its position in Plains All American Pipeline by 2.4% during the 4th quarter. Sippican Capital Advisors now owns 32,800 shares of the company’s stock worth $589,000 after acquiring an additional 775 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 2.0%

Shares of Plains All American Pipeline stock opened at $23.13 on Thursday. The stock’s fifty day moving average is $22.50 and its 200-day moving average is $21.08. The firm has a market capitalization of $16.32 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 10.40 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $24.26.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company had revenue of $12.47 billion during the quarter. During the same period last year, the business earned $0.39 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Plains All American Pipeline will post 1.56 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 7.2%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s payout ratio is presently 127.48%.

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.