Plains All American Pipeline Lp (NASDAQ:PAA) Given Average Rating of “Hold” by Analysts

Plains All American Pipeline Lp (NASDAQ:PAAGet Free Report) has been assigned an average recommendation of “Hold” from the seventeen analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $23.2308.

Several research analysts have recently weighed in on PAA shares. Mizuho lifted their price objective on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Truist Financial upped their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Wells Fargo & Company lifted their target price 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. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a research note on Wednesday, July 15th. Finally, The Goldman Sachs Group upgraded Plains All American Pipeline from a “sell” rating to a “neutral” rating and increased their price target for the stock from $18.00 to $24.00 in a report on Wednesday, June 3rd.

Get Our Latest Stock Report on PAA

Plains All American Pipeline Trading Down 3.0%

NASDAQ:PAA opened at $22.81 on Monday. Plains All American Pipeline has a 52 week low of $15.69 and a 52 week high of $25.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. The firm’s fifty day moving average is $22.99 and its 200-day moving average is $21.94. The firm has a market cap of $16.09 billion, a P/E ratio of 17.41, a P/E/G ratio of 7.90 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAAGet Free Report) last released its 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). The firm had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The firm’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. Equities analysts expect that Plains All American Pipeline will post 1.83 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is 127.48%.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in Plains All American Pipeline during the first quarter worth $260,000. Guggenheim Capital LLC lifted its position in Plains All American Pipeline by 5.9% in the 2nd quarter. Guggenheim Capital LLC now owns 46,288 shares of the company’s stock valued at $848,000 after acquiring an additional 2,592 shares in the last quarter. First Trust Advisors LP lifted its position in Plains All American Pipeline by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 404,921 shares of the company’s stock valued at $7,418,000 after acquiring an additional 16,096 shares in the last quarter. Glenview Trust co acquired a new position in Plains All American Pipeline during the 2nd quarter valued at about $404,000. Finally, HUB Investment Partners LLC boosted its stake in Plains All American Pipeline by 5.6% during the 2nd quarter. HUB Investment Partners LLC now owns 91,113 shares of the company’s stock valued at $1,669,000 after purchasing an additional 4,839 shares during the last quarter. 41.78% of the stock is owned by institutional investors.

Plains All American Pipeline News Roundup

Here are the key news stories impacting Plains All American Pipeline this week:

About Plains All American Pipeline

(Get Free Report)

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.

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Analyst Recommendations for Plains All American Pipeline (NASDAQ:PAA)

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