Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $25.00 at Truist Financial

Plains All American Pipeline (NASDAQ:PAA) had its price target hoisted by Truist Financial from $23.00 to $25.00 in a research report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts have also issued reports on PAA. Barclays lifted their target price on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Friday, April 10th. 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. Zacks Research lowered Plains All American Pipeline from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Scotiabank increased their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and an average price target of $22.92.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $23.35 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $16.47 billion, a PE ratio of 17.82, a P/E/G ratio of 10.90 and a beta of 0.50. Plains All American Pipeline has a 12 month low of $15.69 and a 12 month high of $24.26. The stock has a 50-day moving average price of $22.57 and a two-hundred day moving average price of $21.28.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $12.47 billion for 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. Analysts expect that Plains All American Pipeline will post 1.55 EPS for the current year.

Plains All American Pipeline Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PAA. CIBC Bancorp USA Inc. bought a new position in Plains All American Pipeline in the third quarter worth approximately $87,462,000. Goldman Sachs Group Inc. grew its stake 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 during the period. BROOKFIELD Corp ON increased its holdings in shares of Plains All American Pipeline by 428.2% during the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock valued at $82,430,000 after acquiring an additional 2,992,549 shares in the last quarter. Morgan Stanley increased its holdings in shares of Plains All American Pipeline by 40.2% during 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. Finally, Cohen & Steers Inc. raised its position in shares of Plains All American Pipeline by 97.9% during the fourth quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock worth $44,941,000 after purchasing an additional 1,237,877 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

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.