Plains All American Pipeline (NASDAQ:PAA) Earns Buy Rating from Analysts at Truist Financial

Truist Financial initiated coverage on shares of Plains All American Pipeline (NASDAQ:PAA) in a research report report published on Tuesday,Benzinga reports. The brokerage issued a buy rating and a $23.00 target price on the stock.

Several other research analysts have also recently commented on PAA. Bank of America cut Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a research note on Wednesday, January 28th. Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Sunday, January 4th. Stifel Nicolaus lifted their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Royal Bank Of Canada upped their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.85.

Plains All American Pipeline Stock Up 1.7%

Shares of PAA stock opened at $22.52 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.92. Plains All American Pipeline has a 52 week low of $15.57 and a 52 week high of $22.52. The stock has a market cap of $15.89 billion, a PE ratio of 13.57, a PEG ratio of 3.47 and a beta of 0.59. The firm has a 50 day simple moving average of $20.55.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.During the same quarter last year, the company posted $0.42 earnings per share. Plains All American Pipeline’s revenue was down 12.2% compared to the same quarter last year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.4175 per share. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a yield of 7.4%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 100.60%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PAA. NewEdge Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the 1st quarter worth about $260,000. Geode Capital Management LLC boosted its holdings in Plains All American Pipeline by 0.9% in the second quarter. Geode Capital Management LLC now owns 602,204 shares of the company’s stock valued at $11,032,000 after purchasing an additional 5,145 shares in the last quarter. SG Americas Securities LLC increased its stake in Plains All American Pipeline by 44.3% in the second quarter. SG Americas Securities LLC now owns 12,632 shares of the company’s stock valued at $231,000 after purchasing an additional 3,880 shares during the last quarter. Creative Planning increased its stake in Plains All American Pipeline by 2.2% in the second quarter. Creative Planning now owns 63,805 shares of the company’s stock valued at $1,169,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in Plains All American Pipeline by 1.6% during the second quarter. Cetera Investment Advisers now owns 193,994 shares of the company’s stock worth $3,554,000 after purchasing an additional 3,060 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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.