Plains All American Pipeline (NYSE:PAA) Price Target Raised to $21.00 at Royal Bank Of Canada

Plains All American Pipeline (NYSE:PAA) had its target price boosted by Royal Bank Of Canada from $20.00 to $21.00 in a report published on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the pipeline company’s stock.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley raised their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Barclays raised their price objective on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $22.00 target price (down from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th. Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Finally, Mizuho set a $23.00 price target on Plains All American Pipeline in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.18.

Plains All American Pipeline Price Performance

PAA opened at $20.43 on Tuesday. The firm has a market capitalization of $14.41 billion, a PE ratio of 27.99 and a beta of 0.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The business’s 50-day moving average is $18.74 and its two-hundred day moving average is $17.69. Plains All American Pipeline has a 1 year low of $15.57 and a 1 year high of $20.77.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Friday, February 6th. The pipeline company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same quarter in the previous year, the business earned $0.42 EPS. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. Research analysts anticipate that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.4175 dividend. The ex-dividend date was Friday, January 30th. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 annualized dividend and a dividend yield of 8.2%. Plains All American Pipeline’s dividend payout ratio (DPR) is 100.60%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of institutional investors have recently bought and sold shares of PAA. Alps Advisors Inc. boosted its holdings in shares of Plains All American Pipeline by 2.2% in the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the pipeline company’s stock valued at $1,297,700,000 after acquiring an additional 1,663,908 shares during the last quarter. Invesco Ltd. lifted its position in Plains All American Pipeline by 2.1% during the third quarter. Invesco Ltd. now owns 33,280,692 shares of the pipeline company’s stock valued at $567,769,000 after purchasing an additional 677,959 shares during the period. Goldman Sachs Group Inc. lifted its position in Plains All American Pipeline by 17.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the pipeline company’s stock valued at $360,097,000 after purchasing an additional 3,033,216 shares during the period. Morgan Stanley boosted its holdings in Plains All American Pipeline by 40.2% in the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the pipeline company’s stock valued at $177,467,000 after purchasing an additional 2,833,161 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its position in Plains All American Pipeline by 2.9% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the pipeline company’s stock worth $171,377,000 after purchasing an additional 265,555 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.