Plains All American Pipeline (NYSE:PAA) PT Raised to $16.00

Plains All American Pipeline (NYSE:PAA) had its price target increased by The Goldman Sachs Group from $14.50 to $16.00 in a research report released on Friday, Benzinga reports. They currently have a sell rating on the pipeline company’s stock.

Other research analysts have also recently issued reports about the company. Scotiabank assumed coverage on Plains All American Pipeline in a research report on Monday, April 8th. They set a sector outperform rating and a $23.00 price target for the company. StockNews.com raised Plains All American Pipeline from a buy rating to a strong-buy rating in a research report on Friday, March 22nd. Citigroup increased their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a report on Friday, March 1st. Finally, Truist Financial increased their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $18.68.

Plains All American Pipeline Trading Down 1.4 %

PAA stock opened at $17.51 on Friday. The company has a market capitalization of $12.28 billion, a price-to-earnings ratio of 12.60 and a beta of 1.59. Plains All American Pipeline has a 1-year low of $12.07 and a 1-year high of $19.03. The business has a 50 day simple moving average of $16.86 and a two-hundred day simple moving average of $15.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter last year, the firm posted $0.33 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. Research analysts anticipate that Plains All American Pipeline will post 1.25 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a $0.3175 dividend. This represents a $1.27 annualized dividend and a dividend yield of 7.25%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is presently 91.37%.

Institutional Trading of Plains All American Pipeline

Several hedge funds have recently modified their holdings of PAA. Future Financial Wealth Managment LLC acquired a new stake in Plains All American Pipeline during the 1st quarter worth $28,000. Sunbelt Securities Inc. acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth about $28,000. CENTRAL TRUST Co grew its stake in Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after buying an additional 1,700 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Plains All American Pipeline in the 4th quarter valued at about $39,000. Finally, Clear Street Markets LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.