Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $30.00

Plains All American Pipeline (NASDAQ:PAA) had its price target lifted by Mizuho from $27.00 to $30.00 in a research report report published on Monday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

PAA has been the subject of several other reports. Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. US Capital Advisors downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Citigroup boosted their price target on Plains All American Pipeline from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. 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 report on Tuesday, August 18th. Finally, Zacks Research raised Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and an average target price of $25.43.

Plains All American Pipeline Price Performance

PAA opened at $24.44 on Monday. The company has a fifty day simple moving average of $24.68 and a 200 day simple moving average of $23.09. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The firm has a market cap of $17.24 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 8.59 and a beta of 0.52. Plains All American Pipeline has a twelve month low of $15.69 and a twelve month high of $26.39.

Plains All American Pipeline (NASDAQ:PAA) last announced its earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The business had revenue of $17.69 billion for the quarter. During the same quarter last year, the firm posted $0.36 earnings per share. The business’s revenue was up 66.3% on a year-over-year basis. Equities research analysts expect that Plains All American Pipeline will post 1.75 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

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

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently modified their holdings of the stock. Bullseye Investment Management LLC acquired a new position in Plains All American Pipeline in the 2nd quarter worth about $44,000. Tidal Investments LLC boosted its holdings in shares of Plains All American Pipeline by 754.8% during the 2nd quarter. Tidal Investments LLC now owns 87,636 shares of the company’s stock worth $1,951,000 after buying an additional 77,384 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Plains All American Pipeline by 7.0% during the second quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $307,000 after acquiring an additional 905 shares during the period. NewEdge Advisors LLC grew its holdings in Plains All American Pipeline by 15.2% in the 2nd quarter. NewEdge Advisors LLC now owns 139,680 shares of the company’s stock valued at $3,109,000 after buying an additional 18,465 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Plains All American Pipeline by 0.7% in the second quarter. Parkside Financial Bank & Trust now owns 60,291 shares of the company’s stock worth $1,342,000 after acquiring an additional 392 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

About Plains All American Pipeline

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.