Plains All American Pipeline (NYSE:PAA) Given New $22.00 Price Target at Stifel Nicolaus

Plains All American Pipeline (NYSE:PAA) had its target price boosted by Stifel Nicolaus from $18.00 to $22.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

Other equities research analysts have also issued research reports about the company. Scotiabank began coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a sector outperform rating and a $23.00 price target on the stock. Citigroup increased their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a research report on Friday, March 1st. UBS Group increased their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a report on Friday, April 12th. StockNews.com upgraded Plains All American Pipeline from a buy rating to a strong-buy rating in a report on Friday, March 22nd. Finally, The Goldman Sachs Group increased their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $18.96.

Plains All American Pipeline Price Performance

PAA stock opened at $17.26 on Tuesday. Plains All American Pipeline has a 52-week low of $12.07 and a 52-week high of $19.03. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 12.42 and a beta of 1.59. The business has a fifty day moving average of $16.91 and a two-hundred day moving average of $15.91.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period last year, the company earned $0.33 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, research analysts anticipate that Plains All American Pipeline will post 1.25 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 7.36%. Plains All American Pipeline’s dividend payout ratio is presently 91.37%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline during the first quarter worth $28,000. Sunbelt Securities Inc. acquired a new position in shares of Plains All American Pipeline in the first quarter worth $28,000. CENTRAL TRUST Co raised its holdings in shares of Plains All American Pipeline by 212.5% in the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of Plains All American Pipeline in the fourth quarter worth $39,000. Finally, Clear Street Markets LLC acquired a new position in shares of Plains All American Pipeline in the fourth quarter worth $45,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.