Plains All American Pipeline (NYSE:PAA) Given New $20.00 Price Target at JPMorgan Chase & Co.

Plains All American Pipeline (NYSE:PAA) had its target price decreased by JPMorgan Chase & Co. from $21.00 to $20.00 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the pipeline company’s stock.

Other analysts have also recently issued research reports about the stock. Mizuho set a $22.00 target price on shares of Plains All American Pipeline and gave the stock an “outperform” rating in a research note on Wednesday, June 18th. Barclays reissued an “underweight” rating on shares of Plains All American Pipeline in a report on Friday, August 8th. Citigroup set a $18.00 price objective on shares of Plains All American Pipeline and gave the company a “neutral” rating in a research report on Friday, August 8th. UBS Group set a $25.00 price objective on Plains All American Pipeline and gave the company a “buy” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley dropped their target price on Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Hold” and an average price target of $20.58.

Plains All American Pipeline Price Performance

PAA opened at $17.41 on Thursday. Plains All American Pipeline has a 52 week low of $15.57 and a 52 week high of $21.00. The business has a 50 day moving average price of $17.92 and a two-hundred day moving average price of $17.98. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company has a market cap of $12.24 billion, a PE ratio of 23.85 and a beta of 0.80.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.During the same period last year, the company earned $0.31 EPS. The business’s quarterly revenue was down 16.6% on a year-over-year basis. As a group, research analysts anticipate that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.38 dividend. The ex-dividend date was Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 8.7%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 172.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its position in 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 valued at $26,000 after acquiring an additional 657 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Plains All American Pipeline by 76.1% in the 2nd quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 761 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Plains All American Pipeline during the second quarter worth about $40,000. Atwood & Palmer Inc. bought a new stake in Plains All American Pipeline in the second quarter valued at about $42,000. Finally, Ameritas Advisory Services LLC bought a new stake in Plains All American Pipeline in the second quarter valued at about $58,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.