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

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

Several analysts have commented on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $22.00 target price (down from $24.00) on shares of Plains All American Pipeline in a research note on Friday, October 24th. Zacks Research raised Plains All American Pipeline to a “hold” rating in a research report on Monday, August 11th. Barclays dropped their target price on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a research note on Tuesday, October 7th. Scotiabank decreased their price target on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Finally, Morgan Stanley lifted their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday.

Plains All American Pipeline Trading Up 1.3%

Shares of PAA stock opened at $17.41 on Wednesday. The company has a market capitalization of $12.28 billion, a price-to-earnings ratio of 23.85 and a beta of 0.74. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $16.75 and a 200 day moving average price of $17.43. Plains All American Pipeline has a twelve month low of $15.57 and a twelve month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Research analysts forecast 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 was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $1.52 annualized dividend and a yield of 8.7%. Plains All American Pipeline’s dividend payout ratio is 125.62%.

Institutional Trading of Plains All American Pipeline

Institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its stake in Plains All American Pipeline by 3.3% during the second quarter. Janney Montgomery Scott LLC now owns 105,263 shares of the pipeline company’s stock worth $1,928,000 after acquiring an additional 3,400 shares during the last quarter. Adams Asset Advisors LLC grew its holdings in shares of Plains All American Pipeline by 3.2% during the 2nd quarter. Adams Asset Advisors LLC now owns 787,922 shares of the pipeline company’s stock worth $14,435,000 after purchasing an additional 24,750 shares during the period. Stephens Inc. AR increased its position in Plains All American Pipeline by 19.5% during the 2nd quarter. Stephens Inc. AR now owns 111,785 shares of the pipeline company’s stock worth $2,048,000 after purchasing an additional 18,247 shares in the last quarter. IronOak Wealth LLC. acquired a new stake in Plains All American Pipeline during the 2nd quarter worth approximately $310,000. Finally, Maryland State Retirement & Pension System raised its holdings in Plains All American Pipeline by 6.2% in the second quarter. Maryland State Retirement & Pension System now owns 418,310 shares of the pipeline company’s stock valued at $7,663,000 after buying an additional 24,447 shares during the period. 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.