Plains All American Pipeline Lp (NASDAQ:PAA) Receives Average Rating of “Hold” from Brokerages

Plains All American Pipeline Lp (NASDAQ:PAA) has been assigned an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $21.8462.

PAA has been the subject of a number of recent research reports. Zacks Research lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Morgan Stanley lifted their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 18th. Barclays boosted their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, February 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Plains All American Pipeline in a research report on Monday, December 29th. Finally, Royal Bank Of Canada boosted 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 research report on Tuesday, February 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. bought a new position in shares of Plains All American Pipeline in the third quarter worth approximately $33,000. Caldwell Trust Co purchased a new stake in Plains All American Pipeline during the third quarter valued at approximately $38,000. Newbridge Financial Services Group Inc. raised its position in shares of Plains All American Pipeline by 40.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after purchasing an additional 655 shares during the period. Aventura Private Wealth LLC bought a new stake in shares of Plains All American Pipeline during the 4th quarter valued at $42,000. Finally, Global Retirement Partners LLC grew its stake in Plains All American Pipeline by 468.7% during the third quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock valued at $44,000 after acquiring an additional 2,128 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

PAA opened at $21.84 on Tuesday. Plains All American Pipeline has a fifty-two week low of $15.57 and a fifty-two week high of $22.79. The stock has a 50-day simple moving average of $20.96. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 3.47 and a beta of 0.53.

Plains All American Pipeline (NASDAQ:PAA) last posted its earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate 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%.During the same quarter in the prior year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down 12.2% compared to the same quarter last year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 1st will be paid a dividend of $0.4175 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.67 annualized dividend and a yield of 7.6%. 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.