Plains All American Pipeline Lp (NASDAQ:PAA) Receives $23.54 Average PT from Analysts

Plains All American Pipeline Lp (NASDAQ:PAA) has received a consensus rating of “Hold” from the seventeen research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $24.0769.

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and upped their target price for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price target on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Zacks Research upgraded shares of Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Scotiabank lifted their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th.

Plains All American Pipeline Stock Down 0.8%

NASDAQ PAA opened at $25.52 on Friday. 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 stock has a market capitalization of $18.01 billion, a PE ratio of 7.07, a PEG ratio of 8.90 and a beta of 0.52. Plains All American Pipeline has a 1 year low of $15.69 and a 1 year high of $25.97. The business’s 50-day moving average is $23.90 and its 200 day moving average is $22.64.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The business had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. Plains All American Pipeline’s revenue was up 66.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. Sell-side analysts forecast that Plains All American Pipeline will post 1.77 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.4175 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 6.5%. Plains All American Pipeline’s payout ratio is presently 46.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Americana Partners LLC lifted its holdings in Plains All American Pipeline by 110.9% during the fourth quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock valued at $10,391,000 after purchasing an additional 304,247 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares in the last quarter. Longfellow Investment Management Co. LLC increased its stake in shares of Plains All American Pipeline by 21.5% in the fourth 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 in the last quarter. Wealthstar Advisors LLC raised its position in shares of Plains All American Pipeline by 152.0% during the 1st quarter. Wealthstar Advisors LLC now owns 103,580 shares of the company’s stock valued at $2,313,000 after purchasing an additional 62,477 shares during the period. Finally, Manning & Napier Advisors LLC raised its position in shares of Plains All American Pipeline by 33.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company’s stock valued at $4,466,000 after purchasing an additional 50,000 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.