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

Plains All American Pipeline Lp (NASDAQ:PAA) has been given a consensus rating of “Hold” by the eighteen analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued 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 firms have recently commented on PAA. Truist Financial initiated coverage on Plains All American Pipeline in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price for the company. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday. Morgan Stanley increased their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. Wells Fargo & Company raised their target price on Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th.

Institutional Trading of Plains All American Pipeline

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

Plains All American Pipeline Stock Down 1.1%

Shares of NASDAQ:PAA opened at $21.34 on Friday. The company’s fifty day moving average is $22.33 and its two-hundred day moving average is $20.66. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. Plains All American Pipeline has a 1-year low of $15.69 and a 1-year high of $24.26. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 9.89 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings data 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 business had revenue of $12.47 billion for the quarter. During the same period in the previous year, the company posted $0.39 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Equities analysts anticipate that Plains All American Pipeline will post 1.56 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend was Friday, May 1st. Plains All American Pipeline’s payout ratio is presently 127.48%.

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.