Plains All American Pipeline Lp (NASDAQ:PAA) Given Average Recommendation of “Hold” by Brokerages

Shares of Plains All American Pipeline Lp (NASDAQ:PAAGet Free Report) have been assigned an average rating of “Hold” from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.5385.

PAA has been the topic of a number of research reports. Royal Bank Of Canada lifted their price target on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Morgan Stanley lifted their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Plains All American Pipeline in a report on Friday, April 17th. Truist Financial initiated coverage on shares of Plains All American Pipeline in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th.

Read Our Latest Report on Plains All American Pipeline

Hedge Funds Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Life Planners purchased a new position in shares of Plains All American Pipeline in the 1st quarter worth $27,000. Newbridge Financial Services Group Inc. grew its stake in shares of Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after buying an additional 655 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in shares of Plains All American Pipeline during the 4th quarter worth about $42,000. Fulcrum Asset Management LLP purchased a new position in shares of Plains All American Pipeline during the 3rd quarter worth about $50,000. Finally, Fifth Third Bancorp boosted its stake in shares of Plains All American Pipeline by 257.3% during the 3rd quarter. Fifth Third Bancorp now owns 4,256 shares of the company’s stock worth $73,000 after purchasing an additional 3,065 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $23.57 on Wednesday. The company has a market cap of $16.63 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 3.20 and a beta of 0.51. Plains All American Pipeline has a one year low of $15.69 and a one year high of $24.26. The company’s fifty day moving average price is $22.16. The company has a quick ratio of 0.88, a current ratio of 0.94 and a debt-to-equity ratio of 1.02.

Plains All American Pipeline (NASDAQ:PAAGet Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $12.47 billion for the quarter. Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. 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 firm earned $0.39 EPS. Equities research analysts expect that Plains All American Pipeline will post 1.59 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Friday, May 1st. Plains All American Pipeline’s payout ratio is currently 127.48%.

Plains All American Pipeline Company Profile

(Get Free Report)

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.

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

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