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

Plains All American Pipeline, L.P. (NYSE:PAA) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.96.

PAA has been the topic of a number of recent research reports. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research report on Monday, April 8th. They set a “sector outperform” rating and a $23.00 target price on the stock. UBS Group upped their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, April 12th. Stifel Nicolaus upped their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. The Goldman Sachs Group upped their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Truist Financial upped their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th.

Plains All American Pipeline Trading Up 0.9 %

NYSE PAA opened at $18.03 on Tuesday. The company’s fifty day simple moving average is $17.30 and its 200-day simple moving average is $16.10. Plains All American Pipeline has a 52 week low of $12.07 and a 52 week high of $19.03. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The stock has a market cap of $12.64 billion, a P/E ratio of 12.97 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the previous year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts predict that Plains All American Pipeline will post 1.34 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.3175 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.04%. Plains All American Pipeline’s dividend payout ratio (DPR) is 91.37%.

Institutional Trading of Plains All American Pipeline

A number of institutional investors and hedge funds have recently modified their holdings of PAA. Commonwealth Equity Services LLC grew its position in shares of Plains All American Pipeline by 4.6% during the first quarter. Commonwealth Equity Services LLC now owns 125,542 shares of the pipeline company’s stock worth $2,205,000 after acquiring an additional 5,529 shares during the last quarter. Crescent Grove Advisors LLC grew its position in shares of Plains All American Pipeline by 26.0% during the first quarter. Crescent Grove Advisors LLC now owns 188,715 shares of the pipeline company’s stock worth $3,314,000 after acquiring an additional 38,921 shares during the last quarter. PBMares Wealth Management LLC grew its position in shares of Plains All American Pipeline by 31.3% during the first quarter. PBMares Wealth Management LLC now owns 16,800 shares of the pipeline company’s stock worth $295,000 after acquiring an additional 4,000 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Plains All American Pipeline by 1.5% during the first quarter. Chicago Partners Investment Group LLC now owns 208,582 shares of the pipeline company’s stock worth $3,765,000 after acquiring an additional 3,077 shares during the last quarter. Finally, Covenant Asset Management LLC grew its position in shares of Plains All American Pipeline by 3.7% during the first quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock worth $387,000 after acquiring an additional 795 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

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.