Plains All American Pipeline (NYSE:PAA) PT Raised to $22.00 at UBS Group

Plains All American Pipeline (NYSE:PAA) had its price objective increased by UBS Group from $21.00 to $22.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

PAA has been the topic of several other reports. Scotiabank started coverage on shares of 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. Truist Financial boosted their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. StockNews.com upgraded shares of Plains All American Pipeline from a buy rating to a strong-buy rating in a research report on Friday, March 22nd. Citigroup boosted their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a sell rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $18.68.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $17.51 on Friday. Plains All American Pipeline has a fifty-two week low of $12.07 and a fifty-two week high of $19.03. The firm’s 50-day simple moving average is $16.86 and its 200 day simple moving average is $15.89. 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 $12.28 billion, a P/E ratio of 12.60 and a beta of 1.59.

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 for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. Equities analysts expect that Plains All American Pipeline will post 1.25 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.25%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 91.37%.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of PAA. Future Financial Wealth Managment LLC bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at approximately $28,000. Sunbelt Securities Inc. bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at approximately $28,000. CENTRAL TRUST Co grew its stake in shares of Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after buying an additional 1,700 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Plains All American Pipeline in the 4th quarter valued at approximately $39,000. Finally, Clear Street Markets LLC bought a new stake in shares of Plains All American Pipeline in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.