Plains All American Pipeline, L.P. (NYSE:PAA) Receives Average Rating of “Hold” from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has been given an average recommendation of “Hold” by the eleven research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.45.

Several brokerages recently issued reports on PAA. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Barclays reiterated an “underweight” rating and set a $18.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 9th. Morgan Stanley restated an “equal weight” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a report on Friday, May 9th. Raymond James restated a “strong-buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Finally, Scotiabank cut their price objective on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “sector outperform” rating on the stock in a report on Monday, May 12th.

Plains All American Pipeline Price Performance

PAA stock opened at $17.15 on Wednesday. The firm’s 50-day moving average price is $17.36 and its two-hundred day moving average price is $18.42. Plains All American Pipeline has a 12-month low of $15.58 and a 12-month high of $21.00. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 23.49 and a beta of 0.70. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s revenue was up .1% compared to the same quarter last year. As a group, equities analysts predict that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.86%. The ex-dividend date was Thursday, May 1st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 163.44%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds and other institutional investors have recently bought and sold shares of PAA. Farther Finance Advisors LLC lifted its stake in shares of Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock worth $26,000 after buying an additional 657 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Plains All American Pipeline in the fourth quarter worth approximately $27,000. National Bank of Canada FI bought a new position in shares of Plains All American Pipeline in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp lifted its stake in shares of Plains All American Pipeline by 1,684.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after buying an additional 3,368 shares in the last quarter. Finally, North Capital Inc. bought a new position in shares of Plains All American Pipeline in the first quarter worth approximately $61,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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.