Plains All American Pipeline, L.P. (NYSE:PAA) Receives Average Rating of “Moderate Buy” from Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $20.10.

Several analysts have recently commented on PAA shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research report on Wednesday, September 4th. Morgan Stanley lifted their target price on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, UBS Group increased their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd.

Plains All American Pipeline Stock Performance

PAA opened at $17.30 on Friday. The business has a fifty day simple moving average of $17.77 and a 200-day simple moving average of $17.63. The firm has a market cap of $12.13 billion, a PE ratio of 14.91 and a beta of 1.60. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a fifty-two week low of $14.25 and a fifty-two week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, equities analysts predict that Plains All American Pipeline will post 1.3 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend was Wednesday, July 31st. Plains All American Pipeline’s dividend payout ratio is 109.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently bought and sold shares of the business. ORG Partners LLC boosted its stake in shares of Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 730 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Plains All American Pipeline by 16.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares during the period. Private Advisor Group LLC grew its holdings in Plains All American Pipeline by 0.9% during the second quarter. Private Advisor Group LLC now owns 106,845 shares of the pipeline company’s stock valued at $1,908,000 after purchasing an additional 927 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Plains All American Pipeline by 31.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 1,060 shares during the period. Finally, Wealth Alliance Advisory Group LLC lifted its stake in shares of Plains All American Pipeline by 1.4% in the second quarter. Wealth Alliance Advisory Group LLC now owns 87,927 shares of the pipeline company’s stock worth $1,570,000 after buying an additional 1,198 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.