Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Plains All American Pipeline, L.P. (NYSE:PAAGet Free Report) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $19.38.

PAA has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. The Goldman Sachs Group boosted their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a report on Friday, April 12th. Truist Financial boosted their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Morgan Stanley boosted their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company boosted their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th.

Check Out Our Latest Analysis on PAA

Plains All American Pipeline Stock Up 0.1 %

Shares of NYSE:PAA opened at $17.12 on Wednesday. Plains All American Pipeline has a 1 year low of $13.20 and a 1 year high of $19.03. The business has a 50 day simple moving average of $17.27 and a two-hundred day simple moving average of $16.55. The firm has a market capitalization of $12.00 billion, a PE ratio of 14.76 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.97 and a quick ratio of 0.88.

Plains All American Pipeline (NYSE:PAAGet Free Report) last announced its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts predict that Plains All American Pipeline will post 1.29 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date of this dividend was Tuesday, April 30th. Plains All American Pipeline’s payout ratio is presently 109.48%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of large investors have recently made changes to their positions in PAA. Eagle Bay Advisors LLC acquired a new position in shares of Plains All American Pipeline during the first quarter worth $26,000. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline during the first quarter worth $28,000. Evermay Wealth Management LLC acquired a new position in shares of Plains All American Pipeline during the first quarter worth $35,000. Fortitude Family Office LLC acquired a new position in shares of Plains All American Pipeline during the fourth quarter worth $39,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Plains All American Pipeline during the fourth quarter worth $46,000. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Company Profile

(Get Free Report

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.

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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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