Plains All American Pipeline Lp (NASDAQ:PAA) Receives Average Recommendation of “Hold” from Analysts

Plains All American Pipeline Lp (NASDAQ:PAA) has received a consensus rating of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $21.8462.

Several equities analysts have recently issued reports on PAA shares. Wall Street Zen lowered Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Sunday, January 4th. Royal Bank Of Canada lifted their price target on 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. Stifel Nicolaus upped their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Barclays raised their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, February 9th. Finally, UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $22.47 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.92 and a current ratio of 0.96. The firm has a 50-day moving average price of $20.67. Plains All American Pipeline has a one year low of $15.57 and a one year high of $22.79. The stock has a market capitalization of $15.85 billion, a P/E ratio of 13.54, a P/E/G ratio of 3.51 and a beta of 0.58.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly 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 return on equity of 10.76% and a net margin of 3.21%.During the same quarter in the previous year, the firm earned $0.42 EPS. Plains All American Pipeline’s revenue 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. Stockholders of record on Friday, January 30th were given a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.4%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. Plains All American Pipeline’s payout ratio is currently 100.60%.

Hedge Funds Weigh In On Plains All American Pipeline

Institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. grew its stake in shares of Plains All American Pipeline by 2.2% during the 3rd quarter. Alps Advisors Inc. now owns 76,066,823 shares of the company’s stock worth $1,297,700,000 after acquiring an additional 1,663,908 shares during the period. Invesco Ltd. raised its stake in Plains All American Pipeline by 0.7% in the 4th quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock valued at $601,818,000 after acquiring an additional 228,106 shares during the period. Goldman Sachs Group Inc. raised its stake in Plains All American Pipeline by 17.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after acquiring an additional 3,033,216 shares during the period. Morgan Stanley lifted its holdings in Plains All American Pipeline by 40.2% during the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the 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. lifted its holdings in Plains All American Pipeline by 2.9% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock valued at $171,377,000 after purchasing an additional 265,555 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

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.