Plains All American Pipeline (NASDAQ:PAA) Now Covered by Analysts at Truist Financial

Truist Financial began coverage on shares of Plains All American Pipeline (NASDAQ:PAA) in a report issued on Tuesday morning,Benzinga reports. The brokerage issued a buy rating and a $23.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Plains All American Pipeline in a research note on Monday, December 29th. Wells Fargo & Company raised their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Morgan Stanley lifted their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, March 18th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Finally, Royal Bank Of Canada increased their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.85.

Plains All American Pipeline Stock Up 2.0%

PAA opened at $22.22 on Tuesday. Plains All American Pipeline has a 52 week low of $15.57 and a 52 week high of $22.42. The firm’s 50 day moving average is $20.42. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97. The stock has a market cap of $15.68 billion, a P/E ratio of 13.39, a PEG ratio of 3.41 and a beta of 0.59.

Plains All American Pipeline (NASDAQ:PAA) last announced its earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a net margin of 3.21% and a return on equity of 10.76%. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was down 12.2% on a year-over-year basis.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Friday, January 30th. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. Plains All American Pipeline’s payout ratio is presently 100.60%.

Hedge Funds Weigh In On Plains All American Pipeline

Large investors have recently made changes to their positions in the stock. Mather Group LLC. purchased a new stake in Plains All American Pipeline during the third quarter worth about $33,000. Caldwell Trust Co purchased a new position in Plains All American Pipeline in the third quarter valued at about $38,000. Newbridge Financial Services Group Inc. increased its holdings in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after buying an additional 655 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline during the 4th quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC lifted its position in shares of Plains All American Pipeline by 468.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock valued at $44,000 after acquiring an additional 2,128 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.