Brokerages Set Plains All American Pipeline Lp (NASDAQ:PAA) Price Target at $22.93

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have earned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $22.9286.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. US Capital Advisors cut Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Mizuho raised their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, Citigroup boosted their target price on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th.

Plains All American Pipeline Stock Up 2.8%

PAA stock opened at $23.54 on Thursday. Plains All American Pipeline has a 1-year low of $15.69 and a 1-year high of $24.26. The business has a fifty day moving average price of $22.52 and a 200-day moving average price of $21.20. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The stock has a market capitalization of $16.61 billion, a P/E ratio of 17.97, a P/E/G ratio of 10.49 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.39 earnings per share (EPS) 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 quarter in the prior year, the firm posted $0.39 earnings per share. Plains All American Pipeline’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts forecast that Plains All American Pipeline will post 1.56 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.4175 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 7.1%. Plains All American Pipeline’s dividend payout ratio is presently 127.48%.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAA. Americana Partners LLC lifted its holdings in shares of Plains All American Pipeline by 110.9% in the fourth quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock worth $10,391,000 after buying an additional 304,247 shares in the last quarter. Berkley W R Corp purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at about $32,871,000. Goldman Sachs Group Inc. lifted its stake in shares of Plains All American Pipeline by 17.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after purchasing an additional 3,033,216 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Plains All American Pipeline by 21.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 565,617 shares of the company’s stock worth $10,158,000 after buying an additional 98,666 shares during the period. Finally, Longfellow Investment Management Co. LLC boosted its stake in shares of Plains All American Pipeline by 21.5% during the 4th quarter. Longfellow Investment Management Co. LLC now owns 1,594,440 shares of the company’s stock worth $28,636,000 after purchasing an additional 281,609 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.