Plains All American Pipeline (NASDAQ:PAA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Plains All American Pipeline (NASDAQ:PAA) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also weighed in on the company. Barclays upped their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “underweight” rating in a research report on Monday, September 21st. Royal Bank Of Canada lifted their price target on shares of Plains All American Pipeline from $23.00 to $26.00 and gave the company a “sector perform” rating in a research report on Monday, August 17th. UBS Group boosted their price target on shares of Plains All American Pipeline from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Scotiabank upped their price objective on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, September 10th. Finally, Zacks Research raised shares of Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.43.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $23.91 on Friday. The business has a 50-day simple moving average of $24.65 and a 200 day simple moving average of $23.24. Plains All American Pipeline has a one year low of $15.69 and a one year high of $26.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 8.19 and a beta of 0.57.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The firm had revenue of $17.69 billion during the quarter. During the same quarter in the prior year, the firm posted $0.36 EPS. The business’s quarterly revenue was up 66.3% on a year-over-year basis. On average, research analysts anticipate that Plains All American Pipeline will post 1.78 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.4175 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.67 annualized dividend and a dividend yield of 7.0%. Plains All American Pipeline’s payout ratio is presently 46.26%.

Institutional Investors Weigh In On Plains All American Pipeline

Several institutional investors have recently bought and sold shares of the stock. Financial Life Planners purchased a new position in Plains All American Pipeline during the 1st quarter worth $27,000. Allied Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline in the second quarter valued at about $33,000. Bullseye Investment Management LLC purchased a new stake in shares of Plains All American Pipeline in the second quarter valued at about $44,000. Scarborough Advisors LLC bought a new position in shares of Plains All American Pipeline during the first quarter valued at about $80,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Plains All American Pipeline by 1,164.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock valued at $85,000 after purchasing an additional 3,494 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that provides midstream energy infrastructure and logistics services. The company primarily transports, stores and handles crude oil and natural gas liquids (NGLs) for producers, refiners, exporters and other energy customers.

Its operations include pipeline transportation, gathering systems, storage terminals, rail and truck facilities, and other supply-chain assets. Plains also provides terminalling, inventory management and related logistics services that connect production areas with refineries, processing facilities and export markets.

Plains All American serves key producing regions in the United States and Canada, with a significant presence in the Permian Basin and other North American oil and NGL markets.