Plains All American Pipeline (NASDAQ:PAA – Free Report) had its target price raised by Morgan Stanley from $25.00 to $26.00 in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has an equal weight rating on the stock.
Several other research firms have also recently commented on PAA. Scotiabank upped their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. US Capital Advisors lowered Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Barclays boosted their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Zacks Research upgraded Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and raised their target price for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.54.
Check Out Our Latest Stock Analysis on PAA
Plains All American Pipeline Stock Performance
Plains All American Pipeline (NASDAQ:PAA – Get Free Report) last released its earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The company had revenue of $17.69 billion during the quarter. During the same period in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 66.3% compared to the same quarter last year. Equities research analysts anticipate that Plains All American Pipeline will post 1.77 earnings per share for the current year.
Plains All American Pipeline Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Friday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is 46.26%.
Institutional Trading of Plains All American Pipeline
A number of large investors have recently bought and sold shares of the stock. Financial Life Planners acquired a new stake in shares of Plains All American Pipeline in the 1st quarter valued at $27,000. Allied Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline during the 2nd quarter worth about $33,000. Fulcrum Asset Management LLP bought a new position in Plains All American Pipeline during the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC lifted its holdings in Plains All American Pipeline by 342.7% during the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock valued at $73,000 after purchasing an additional 3,149 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Plains All American Pipeline by 93.2% in the second quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock valued at $78,000 after buying an additional 2,041 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 (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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