Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Recommendation of “Hold” by Brokerages

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been given an average rating of “Hold” by the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, three have assigned 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 a report on the stock in the last year is $20.5833.

Several brokerages recently issued reports on PAA. Morgan Stanley cut 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. Barclays restated an “underweight” rating on shares of Plains All American Pipeline in a research note on Friday, August 8th. Zacks Research upgraded shares of Plains All American Pipeline to a “hold” rating in a research note on Monday, August 11th. JPMorgan Chase & Co. lowered their target price on shares of Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, September 18th. Finally, UBS Group set a $25.00 price target on shares of Plains All American Pipeline and gave the company a “buy” rating in a research report on Tuesday, July 15th.

Plains All American Pipeline Trading Down 0.7%

PAA opened at $16.71 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline has a fifty-two week low of $15.57 and a fifty-two week high of $21.00. The firm has a market capitalization of $11.75 billion, a PE ratio of 22.89 and a beta of 0.72. The company’s 50-day moving average is $17.55 and its 200 day moving average is $17.75.

Plains All American Pipeline (NYSE:PAA) last released its quarterly 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%.Plains All American Pipeline’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, research analysts predict that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend is Friday, October 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 172.73%.

Institutional Investors Weigh In On Plains All American Pipeline

Several large investors have recently made changes to their positions in the business. Invesco Ltd. grew its position in Plains All American Pipeline by 10.1% during the second quarter. Invesco Ltd. now owns 32,602,733 shares of the pipeline company’s stock valued at $597,282,000 after buying an additional 3,003,351 shares during the period. BROOKFIELD Corp ON boosted its stake in Plains All American Pipeline by 50.2% in the first quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company’s stock valued at $113,967,000 after acquiring an additional 1,904,261 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Plains All American Pipeline by 7.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock valued at $422,894,000 after acquiring an additional 1,524,185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Plains All American Pipeline by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company’s stock worth $329,279,000 after purchasing an additional 1,166,369 shares during the last quarter. Finally, BROOKFIELD Corp ON increased its stake in shares of Plains All American Pipeline by 18.9% during the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company’s stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the last quarter. 41.78% of the stock is owned by hedge funds and other institutional investors.

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.