Plains All American Pipeline’s (PAA) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Plains All American Pipeline (NYSE:PAA) in a research report report published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $20.00 target price on the pipeline company’s stock.

A number of other equities analysts have also recently issued reports on PAA. Raymond James reiterated a “strong-buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. Scotiabank decreased their target price on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 12th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. StockNews.com downgraded Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Finally, Barclays restated an “underweight” rating and set a $18.00 price objective on shares of Plains All American Pipeline in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline has an average rating of “Hold” and a consensus target price of $20.50.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $17.25 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. Plains All American Pipeline has a 52 week low of $15.58 and a 52 week high of $21.00. The stock has a market capitalization of $12.14 billion, a P/E ratio of 23.63 and a beta of 0.70. The stock has a fifty day moving average of $18.13 and a 200-day moving average of $18.46.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Plains All American Pipeline’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, sell-side analysts expect that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.81%. Plains All American Pipeline’s payout ratio is 163.44%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds have recently made changes to their positions in PAA. Manning & Napier Advisors LLC acquired a new stake in Plains All American Pipeline during the 4th quarter valued at approximately $1,708,000. PFG Investments LLC boosted its stake in shares of Plains All American Pipeline by 47.0% in the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock valued at $771,000 after purchasing an additional 14,432 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Plains All American Pipeline during the fourth quarter worth $591,000. Clarus Group Inc. raised its stake in Plains All American Pipeline by 30.5% during the fourth quarter. Clarus Group Inc. now owns 91,527 shares of the pipeline company’s stock worth $1,563,000 after buying an additional 21,400 shares during the last quarter. Finally, Stephens Inc. AR lifted its holdings in Plains All American Pipeline by 15.7% in the fourth quarter. Stephens Inc. AR now owns 110,735 shares of the pipeline company’s stock valued at $1,891,000 after buying an additional 15,049 shares during the period. 41.78% of the stock is currently owned by 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.