Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $23.00 at Morgan Stanley

Plains All American Pipeline (NASDAQ:PAA) had its target price upped by Morgan Stanley from $21.00 to $23.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of 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. Citigroup upped their target price on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Bank of America downgraded shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target for the company. in a research report on Wednesday, January 28th. Zacks Research lowered Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company upped their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.75.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $21.58 on Wednesday. The business’s fifty day simple moving average is $20.16. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 3.43 and a beta of 0.59. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.92. Plains All American Pipeline has a 1-year low of $15.57 and a 1-year high of $22.29.

Plains All American Pipeline (NASDAQ:PAA) last released its earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis.

Plains All American Pipeline Increases Dividend

The firm 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. The ex-dividend date was Friday, January 30th. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.38. This represents a $1.67 dividend on an annualized basis and a yield of 7.7%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 100.60%.

Institutional Trading of Plains All American Pipeline

Several institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC purchased a new position in shares of Plains All American Pipeline during the 1st quarter worth approximately $260,000. ProShare Advisors LLC lifted its stake in Plains All American Pipeline by 17.2% in the 2nd quarter. ProShare Advisors LLC now owns 36,375 shares of the company’s stock valued at $666,000 after buying an additional 5,326 shares in the last quarter. Allworth Financial LP grew its holdings in Plains All American Pipeline by 397.9% during the 2nd quarter. Allworth Financial LP now owns 5,696 shares of the company’s stock valued at $104,000 after buying an additional 4,552 shares during the last quarter. Geode Capital Management LLC grew its holdings in Plains All American Pipeline by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 602,204 shares of the company’s stock valued at $11,032,000 after buying an additional 5,145 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Plains All American Pipeline by 44.3% during the second quarter. SG Americas Securities LLC now owns 12,632 shares of the company’s stock worth $231,000 after buying an additional 3,880 shares in 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.