Plains All American Pipeline (NYSE:PAA) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Plains All American Pipeline (NYSE:PAA) from a buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning.

A number of other equities analysts also recently issued reports on the company. Citigroup increased their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a research report on Friday, March 1st. Truist Financial raised their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a research report on Tuesday, March 19th. UBS Group raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a research report on Friday, April 12th. The Goldman Sachs Group raised their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a research report on Friday, April 12th. Finally, Stifel Nicolaus raised their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $18.96.

Plains All American Pipeline Stock Performance

PAA stock opened at $18.25 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The business’s fifty day simple moving average is $17.19 and its two-hundred day simple moving average is $16.03. Plains All American Pipeline has a twelve month low of $12.07 and a twelve month high of $19.03. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 12.62 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) 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 the consensus estimate of $14.30 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. Analysts predict that Plains All American Pipeline will post 1.27 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 6.96%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is 91.37%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Covenant Asset Management LLC raised its stake in shares of Plains All American Pipeline by 3.7% in the first quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock worth $387,000 after purchasing an additional 795 shares during the last quarter. Stablepoint Partners LLC purchased a new position in shares of Plains All American Pipeline in the first quarter worth about $283,000. Clarus Group Inc. raised its stake in shares of Plains All American Pipeline by 1.0% in the first quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock worth $1,221,000 after purchasing an additional 682 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Plains All American Pipeline by 1.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 354,978 shares of the pipeline company’s stock worth $6,233,000 after purchasing an additional 5,873 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in shares of Plains All American Pipeline in the first quarter worth about $515,000. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

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.