Plains All American Pipeline (NYSE:PAA) Given New $22.00 Price Target at Mizuho

Plains All American Pipeline (NYSE:PAA) had its price objective increased by Mizuho from $20.00 to $22.00 in a research note published on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the pipeline company’s stock.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 9th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research note 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 note on Friday, May 9th. Raymond James Financial reiterated a “strong-buy” rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and an average target price of $20.50.

Plains All American Pipeline Trading Up 3.8%

Shares of Plains All American Pipeline stock opened at $18.41 on Wednesday. The company’s fifty day simple moving average is $17.25 and its 200-day simple moving average is $18.41. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 25.22 and a beta of 0.66. 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 has a 1 year low of $15.58 and a 1 year high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data 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 return on equity of 11.69% and a net margin of 1.54%. Plains All American Pipeline’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. As a group, sell-side analysts expect that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.26%. Plains All American Pipeline’s payout ratio is presently 163.44%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust lifted its holdings in shares of Plains All American Pipeline by 74.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 58,491 shares of the pipeline company’s stock valued at $999,000 after acquiring an additional 25,013 shares during the period. Jones Financial Companies Lllp raised its holdings 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 valued at $61,000 after buying an additional 3,368 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Plains All American Pipeline by 50.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,154 shares of the pipeline company’s stock valued at $805,000 after buying an additional 15,854 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Plains All American Pipeline in the fourth quarter valued at about $11,247,000. Finally, Sanctuary Advisors LLC raised its holdings in shares of Plains All American Pipeline by 16.9% in the fourth quarter. Sanctuary Advisors LLC now owns 64,854 shares of the pipeline company’s stock valued at $1,108,000 after buying an additional 9,360 shares during the last quarter. 41.78% of the stock is 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.