Plains All American Pipeline (NYSE:PAA) Given New $21.00 Price Target at Wells Fargo & Company

Plains All American Pipeline (NYSE:PAA) had its target price lifted by Wells Fargo & Company from $20.00 to $21.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the pipeline company’s stock.

PAA has been the subject of several other reports. Barclays raised their price objective on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday. Scotiabank restated an “outperform” rating on shares of Plains All American Pipeline in a research report on Friday, January 16th. Mizuho set a $23.00 price target on Plains All American Pipeline in a research report on Friday, January 23rd. Bank of America lowered Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a research note on Wednesday, January 28th. Finally, Morgan Stanley increased their price objective on Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.91.

Plains All American Pipeline Trading Down 0.6%

Shares of Plains All American Pipeline stock opened at $19.28 on Monday. Plains All American Pipeline has a 52-week low of $15.57 and a 52-week high of $20.77. The stock’s 50-day simple moving average is $18.45 and its 200 day simple moving average is $17.63. The stock has a market capitalization of $13.60 billion, a P/E ratio of 26.41 and a beta of 0.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Friday, February 6th. The pipeline company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. As a group, research analysts anticipate that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 8.7%. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, January 30th. 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 added to or reduced their stakes in the business. Exencial Wealth Advisors LLC lifted its holdings in shares of Plains All American Pipeline by 1.5% during the third quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the pipeline company’s stock valued at $698,000 after purchasing an additional 601 shares during the last quarter. Apollon Wealth Management LLC increased its position in Plains All American Pipeline by 0.8% during the 2nd quarter. Apollon Wealth Management LLC now owns 80,515 shares of the pipeline company’s stock valued at $1,475,000 after buying an additional 628 shares in the last quarter. Newbridge Financial Services Group Inc. increased its position in Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after buying an additional 655 shares in the last quarter. Blue Trust Inc. raised its stake in Plains All American Pipeline by 76.1% during the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock valued at $32,000 after buying an additional 761 shares during the last quarter. Finally, Sippican Capital Advisors boosted its holdings in Plains All American Pipeline by 2.4% in the fourth quarter. Sippican Capital Advisors now owns 32,800 shares of the pipeline company’s stock worth $589,000 after acquiring an additional 775 shares in the last quarter. 41.78% of the stock is currently owned by 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.