Plains All American Pipeline, L.P. (NYSE:PAA) Receives Average Recommendation of “Hold” from Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $20.36.

Several brokerages have recently commented on PAA. Mizuho decreased their price objective on shares of Plains All American Pipeline from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $20.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. Raymond James reaffirmed a “strong-buy” rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a research note on Friday, May 9th.

Plains All American Pipeline Stock Up 2.1%

PAA opened at $17.44 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 1-year low of $15.58 and a 1-year high of $21.00. The company has a market capitalization of $12.27 billion, a PE ratio of 23.89 and a beta of 0.66. The firm’s 50 day simple moving average is $17.18 and its two-hundred day simple moving average is $18.42.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, equities analysts forecast that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.72%. Plains All American Pipeline’s payout ratio is 163.44%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in shares of Plains All American Pipeline by 6.4% in the 1st quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company’s stock valued at $591,988,000 after acquiring an additional 1,771,452 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Plains All American Pipeline by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock valued at $422,894,000 after acquiring an additional 1,524,185 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Plains All American Pipeline by 7.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company’s stock valued at $329,279,000 after acquiring an additional 1,166,369 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Plains All American Pipeline by 0.6% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company’s stock valued at $227,539,000 after acquiring an additional 75,509 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Plains All American Pipeline by 8.7% in the 4th quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock valued at $134,107,000 after acquiring an additional 630,141 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

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.