Plains All American Pipeline Lp (NASDAQ:PAA) Stock Has Average Price Target of $25.80 According to Brokerages

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have been assigned an average rating of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $25.87.

Several brokerages have weighed in on PAA. Scotiabank reissued an “outperform” rating and set a $28.00 price target on shares of Plains All American Pipeline in a research report on Thursday. Truist Financial boosted their price objective on shares of 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. Wall Street Zen downgraded shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings lowered shares of Plains All American Pipeline from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 14th. Finally, Mizuho increased their target price on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, September 21st.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently made changes to their positions in the business. NEOS Investment Management LLC lifted its position in Plains All American Pipeline by 34.6% during the 2nd quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock valued at $17,250,000 after acquiring an additional 199,296 shares during the period. Wealthstar Advisors LLC boosted its stake in Plains All American Pipeline by 152.0% during the first quarter. Wealthstar Advisors LLC now owns 103,580 shares of the company’s stock worth $2,313,000 after acquiring an additional 62,477 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in Plains All American Pipeline by 33.3% during the first quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company’s stock worth $4,466,000 after acquiring an additional 50,000 shares in the last quarter. DV Trading LLC grew its holdings in Plains All American Pipeline by 148.1% in the first quarter. DV Trading LLC now owns 82,454 shares of the company’s stock worth $1,841,000 after purchasing an additional 49,221 shares during the period. Finally, Mizuho Markets Americas LLC bought a new position in shares of Plains All American Pipeline during the first quarter valued at approximately $16,819,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $25.25 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12. Plains All American Pipeline has a fifty-two week low of $15.93 and a fifty-two week high of $26.39. The stock has a 50 day moving average price of $24.81 and a two-hundred day moving average price of $23.42. The company has a market capitalization of $17.82 billion, a P/E ratio of 15.88, a PEG ratio of 9.02 and a beta of 0.57.

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 analysts’ consensus estimates 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 company had revenue of $17.69 billion for the quarter. During the same period in the previous year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 66.3% on a year-over-year basis. Analysts expect that Plains All American Pipeline will post 1.72 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.4175 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.67 annualized dividend and a yield of 6.6%. Plains All American Pipeline’s dividend payout ratio (DPR) is 46.26%.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides logistics services for crude oil and natural gas liquids (NGLs). Rather than primarily exploring for or producing hydrocarbons, the company operates assets that help gather, transport, store and deliver energy commodities from production areas to refineries, processing facilities and other markets.

The company’s operations include pipeline transportation systems, gathering networks, storage facilities, rail and truck transportation, and terminal and export infrastructure.