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

Plains All American Pipeline, L.P. (NYSE:PAA) has received an average recommendation of “Hold” from the twelve analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $20.5455.

A number of analysts have weighed in on the stock. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the company a “buy” rating in a research note on Tuesday, July 15th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $22.00 price target (down previously from $24.00) on shares of Plains All American Pipeline in a report on Friday, October 24th. Wolfe Research reaffirmed a “peer perform” rating on shares of Plains All American Pipeline in a report on Friday, July 25th. Barclays dropped their price target on shares of Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating on the stock in a report on Tuesday, October 7th. Finally, Morgan Stanley dropped their price target on shares of Plains All American Pipeline from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th.

Plains All American Pipeline Stock Down 3.3%

NYSE:PAA opened at $16.45 on Friday. The firm has a market cap of $11.57 billion, a P/E ratio of 22.53 and a beta of 0.72. 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 fifty-two week low of $15.57 and a fifty-two week high of $21.00. The firm has a 50-day simple moving average of $17.00 and a two-hundred day simple moving average of $17.49.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. Analysts predict that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.2%. 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 Trading of Plains All American Pipeline

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in shares of Plains All American Pipeline by 76.1% in the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock worth $32,000 after buying an additional 761 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Plains All American Pipeline in the third quarter worth approximately $33,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Plains All American Pipeline in the second quarter worth approximately $40,000. Caldwell Trust Co purchased a new position in shares of Plains All American Pipeline in the third quarter worth approximately $38,000. Finally, Atwood & Palmer Inc. purchased a new position in shares of Plains All American Pipeline in the second quarter worth approximately $42,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

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.