Plains All American Pipeline Lp (NASDAQ:PAA) Receives $23.54 Consensus PT from Analysts

Plains All American Pipeline Lp (NASDAQ:PAA) has been assigned an average rating of “Hold” from the seventeen analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned 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 issued ratings on the stock in the last year is $23.5385.

A number of equities research analysts recently weighed in on PAA shares. Wells Fargo & Company boosted their price objective on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada raised their price target on Plains All American Pipeline from $23.00 to $26.00 and gave the company a “sector perform” rating in a report on Monday, August 17th. Morgan Stanley lifted their price objective on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $18.00 to $24.00 in a report on Wednesday, June 3rd. Finally, Mizuho increased their target price on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, June 8th.

Institutional Investors Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its position in Plains All American Pipeline by 3.4% in the second quarter. HB Wealth Management LLC now owns 15,988 shares of the company’s stock worth $356,000 after purchasing an additional 525 shares during the period. Angeles Wealth Management LLC increased its position in shares of Plains All American Pipeline by 4.2% during the 2nd quarter. Angeles Wealth Management LLC now owns 200,924 shares of the company’s stock valued at $4,473,000 after purchasing an additional 8,117 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Plains All American Pipeline by 1.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 30,124 shares of the company’s stock worth $671,000 after buying an additional 509 shares in the last quarter. NEOS Investment Management LLC raised its stake in shares of Plains All American Pipeline by 34.6% in the 2nd quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock worth $17,250,000 after buying an additional 199,296 shares in the last quarter. Finally, Archer Investment Corp acquired a new stake in shares of Plains All American Pipeline in the second quarter valued at $178,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Up 0.8%

PAA stock opened at $25.86 on Friday. The company has a market capitalization of $18.25 billion, a P/E ratio of 7.16, a PEG ratio of 8.87 and a beta of 0.52. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Plains All American Pipeline has a twelve month low of $15.69 and a twelve month high of $25.89. The firm has a 50 day simple moving average of $23.74 and a 200-day simple moving average of $22.56.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). The company had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The business’s quarterly revenue was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. On average, equities research analysts predict that Plains All American Pipeline will post 1.77 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.4175 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 6.5%. Plains All American Pipeline’s dividend payout ratio (DPR) is 46.26%.

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.