Plains All American Pipeline Lp (NASDAQ:PAA) Receives $22.93 Consensus PT from Analysts

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have earned a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $22.9286.

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on 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. Stifel Nicolaus boosted their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, March 6th. The Goldman Sachs Group upgraded Plains All American Pipeline from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $18.00 to $24.00 in a report on Wednesday, June 3rd. Barclays boosted their price objective on Plains All American Pipeline from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Friday, April 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th.

Plains All American Pipeline Trading Down 0.6%

Shares of Plains All American Pipeline stock opened at $21.81 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The business has a 50-day simple moving average of $22.35. Plains All American Pipeline has a 52 week low of $15.69 and a 52 week high of $24.26. The company has a market capitalization of $15.39 billion, a PE ratio of 16.65, a PEG ratio of 10.06 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. On average, equities analysts predict that Plains All American Pipeline will post 1.56 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a yield of 7.7%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s payout ratio is presently 127.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Large investors have recently made changes to their positions in the business. Financial Life Planners acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at about $27,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after purchasing an additional 655 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of Plains All American Pipeline in the 4th quarter valued at about $42,000. Fulcrum Asset Management LLP acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at about $50,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at about $80,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.