Brokerages Set Plains All American Pipeline, L.P. (NYSE:PAA) Target Price at $20.21

Plains All American Pipeline, L.P. (NYSE:PAA) has been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.21.

Several equities research analysts have recently weighed in on PAA shares. Barclays boosted their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, January 10th. Bank of America began coverage on Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price on the stock. Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Scotiabank reiterated a “sector outperform” rating and issued a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, January 10th.

Plains All American Pipeline Price Performance

PAA opened at $19.80 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market capitalization of $13.93 billion, a PE ratio of 17.68 and a beta of 1.64. The company’s 50 day simple moving average is $18.42 and its 200 day simple moving average is $17.87. Plains All American Pipeline has a 1 year low of $15.02 and a 1 year high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The firm had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the previous year, the company posted $0.35 earnings per share. Plains All American Pipeline’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Plains All American Pipeline will post 1.17 EPS for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.68%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. Plains All American Pipeline’s payout ratio is presently 113.39%.

Hedge Funds Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after purchasing an additional 2,677,951 shares in the last quarter. Chickasaw Capital Management LLC grew its position in Plains All American Pipeline by 1.0% during the third quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company’s stock worth $71,913,000 after buying an additional 42,383 shares in the last quarter. Citigroup Inc. lifted its position in Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after purchasing an additional 1,125,386 shares during the period. Miller Howard Investments Inc. NY raised its position in Plains All American Pipeline by 1.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 2,610,872 shares of the pipeline company’s stock worth $44,594,000 after purchasing an additional 38,062 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Plains All American Pipeline by 1.6% in the 3rd quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company’s stock worth $34,885,000 after buying an additional 32,061 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

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.