Plains All American Pipeline Lp (NASDAQ:PAA) Given Average Rating of “Hold” by Analysts
by Michael Walen · The Markets DailyPlains All American Pipeline Lp (NASDAQ:PAA – Get Free Report) has been given an average rating of “Hold” by the sixteen analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.8462.
Several research analysts have weighed in on PAA shares. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research note on Monday, February 9th. Wells Fargo & Company boosted their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Bank of America lowered shares of Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 target price for the company. in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Plains All American Pipeline in a research note on Monday, December 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, February 9th.
Get Our Latest Research Report on PAA
Hedge Funds Weigh In On Plains All American Pipeline
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bollard Group LLC boosted its position in shares of Plains All American Pipeline by 13.2% during the 2nd quarter. Bollard Group LLC now owns 1,131,158 shares of the company’s stock valued at $20,723,000 after acquiring an additional 132,008 shares during the last quarter. Citigroup Inc. increased its position in Plains All American Pipeline by 17.8% in the third quarter. Citigroup Inc. now owns 535,200 shares of the company’s stock worth $9,131,000 after purchasing an additional 80,788 shares during the last quarter. JPMorgan Chase & Co. increased its position in Plains All American Pipeline by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the company’s stock worth $122,814,000 after purchasing an additional 967,059 shares during the last quarter. Inspire Investing LLC purchased a new stake in Plains All American Pipeline during the third quarter valued at $1,045,000. Finally, Texas Yale Capital Corp. raised its stake in Plains All American Pipeline by 10.4% during the third quarter. Texas Yale Capital Corp. now owns 637,343 shares of the company’s stock valued at $10,873,000 after purchasing an additional 60,000 shares in the last quarter. 41.78% of the stock is owned by institutional investors.
Plains All American Pipeline Price Performance
NASDAQ:PAA opened at $22.14 on Tuesday. The firm’s 50-day simple moving average is $20.91. Plains All American Pipeline has a 52 week low of $15.57 and a 52 week high of $22.79. The company has a market capitalization of $15.62 billion, a PE ratio of 13.34, a PEG ratio of 3.47 and a beta of 0.53. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 0.97.
Plains All American Pipeline (NASDAQ:PAA – Get Free Report) last released its quarterly earnings data on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share.
Plains All American Pipeline Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 7.5%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, January 30th. Plains All American Pipeline’s payout ratio is presently 100.60%.
About Plains All American Pipeline
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.