Plains All American Pipeline Lp (NASDAQ:PAA) Stock Has Average Target Price of $25.43 According to Brokerages

by · The Cerbat Gem

Plains All American Pipeline Lp (NASDAQ:PAA – Get Free Report) has received an average rating of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $25.43.

Several research analysts recently commented on PAA shares. UBS Group boosted their price objective on shares of Plains All American Pipeline from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho upped their price target on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings upgraded Plains All American Pipeline from a “buy (b-)” rating to a “buy (b+)” rating in a research note on Tuesday, August 25th. JPMorgan Chase & Co. raised their target price on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Finally, Zacks Research upgraded Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th.

Get Our Latest Analysis on PAA

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $24.64 on Tuesday. The stock’s 50-day moving average is $24.70 and its 200 day moving average is $23.11. Plains All American Pipeline has a 1-year low of $15.69 and a 1-year high of $26.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. The company has a market cap of $17.39 billion, a P/E ratio of 6.83, a PEG ratio of 8.59 and a beta of 0.52.

Plains All American Pipeline (NASDAQ:PAA – Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The firm had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The business’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Research analysts predict that Plains All American Pipeline will post 1.75 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.4175 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.8%. Plains All American Pipeline’s dividend payout ratio is presently 46.26%.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in Plains All American Pipeline by 17.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares during the last quarter. BROOKFIELD Corp ON boosted its holdings in Plains All American Pipeline by 428.2% in the 1st quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock valued at $82,430,000 after purchasing an additional 2,992,549 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in Plains All American Pipeline by 97.9% in the 4th quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock valued at $44,941,000 after purchasing an additional 1,237,877 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Plains All American Pipeline in the 1st quarter valued at approximately $16,819,000. Finally, Longfellow Investment Management Co. LLC grew its stake in shares of Plains All American Pipeline by 21.5% in the 4th quarter. Longfellow Investment Management Co. LLC now owns 1,594,440 shares of the company’s stock valued at $28,636,000 after buying an additional 281,609 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

(Get Free Report)

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides transportation, storage, gathering, logistics and related services for crude oil and natural gas liquids (NGLs). The company generally does not produce oil or gas; instead, it helps move and manage hydrocarbons from producing regions to refineries, processing facilities, export terminals and other end markets.

Plains operates an extensive network of pipelines, gathering systems, storage facilities, rail and truck transportation assets, and terminals.

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