Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $25.00

Plains All American Pipeline (NASDAQ:PAA) had its price objective lifted by Truist Financial from $23.00 to $25.00 in a research report report published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research firms also recently issued reports on PAA. Citigroup increased their target price on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Barclays lifted their price target on shares of Plains All American Pipeline from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Friday, April 10th. Wells Fargo & Company increased their price objective on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Plains All American Pipeline in a research note on Friday, April 17th. Finally, UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.08.

Plains All American Pipeline Price Performance

PAA stock opened at $23.87 on Wednesday. The stock has a 50-day moving average price of $22.64 and a two-hundred day moving average price of $21.34. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $24.26. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The company has a market cap of $16.84 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 10.96 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.Plains All American Pipeline’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. As a group, research analysts predict that Plains All American Pipeline will post 1.55 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.48%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of institutional investors and hedge funds have recently bought and sold shares of PAA. Americana Partners LLC raised its stake in shares of Plains All American Pipeline by 110.9% in the 4th quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock valued at $10,391,000 after purchasing an additional 304,247 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Plains All American Pipeline by 17.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares during the last quarter. Longfellow Investment Management Co. LLC grew its stake in Plains All American Pipeline by 21.5% in the fourth quarter. Longfellow Investment Management Co. LLC now owns 1,594,440 shares of the company’s stock worth $28,636,000 after purchasing an additional 281,609 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Plains All American Pipeline by 21.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 565,617 shares of the company’s stock worth $10,158,000 after purchasing an additional 98,666 shares in the last quarter. Finally, GraniteShares Advisors LLC bought a new stake in Plains All American Pipeline in the fourth quarter valued at about $2,717,000. 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.