Plains All American Pipeline Lp (NASDAQ:PAA) Receives Consensus Rating of “Hold” from Brokerages

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have earned an average rating of “Hold” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $25.43.

A number of research analysts have commented on PAA shares. 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. JPMorgan Chase & Co. increased their price objective on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. UBS Group lifted their price objective on shares of Plains All American Pipeline from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, September 21st. Mizuho boosted their price objective on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. Finally, Barclays upped their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “underweight” rating in a research note on Monday, September 21st.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after buying an additional 3,033,216 shares in the last quarter. BROOKFIELD Corp ON lifted its position in Plains All American Pipeline by 428.2% during the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock worth $82,430,000 after buying an additional 2,992,549 shares in the last quarter. Cohen & Steers Inc. boosted its stake in Plains All American Pipeline by 97.9% during the fourth quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock worth $44,941,000 after buying an additional 1,237,877 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in Plains All American Pipeline in the 1st quarter valued at $16,819,000. Finally, Longfellow Investment Management Co. LLC grew its holdings 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 valued at $28,636,000 after purchasing an additional 281,609 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

PAA opened at $24.53 on Tuesday. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 8.42 and a beta of 0.52. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $26.39. The business’s fifty day simple moving average is $24.72 and its 200-day simple moving average is $23.15.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The firm had revenue of $17.69 billion during the quarter. During the same period in the prior year, the firm earned $0.36 EPS. Plains All American Pipeline’s quarterly revenue was up 66.3% compared to the same quarter last year. On average, equities research analysts anticipate that Plains All American Pipeline will post 1.78 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is presently 46.26%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides transportation, storage, gathering, logistics and related services for crude oil and natural gas liquids (NGLs). The company generally does not produce oil or gas; instead, it helps move and manage hydrocarbons from producing regions to refineries, processing facilities, export terminals and other end markets.

Plains operates an extensive network of pipelines, gathering systems, storage facilities, rail and truck transportation assets, and terminals.