Plains All American Pipeline, L.P. (PAA) Given Average Rating of “Hold” by Brokerages

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have earned an average rating of “Hold” from the twenty-four brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $25.94.

Several analysts have recently weighed in on the stock. US Capital Advisors lowered shares of Plains All American Pipeline from an “overweight” rating to a “hold” rating in a report on Wednesday, May 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $24.00 price objective (up previously from $22.00) on shares of Plains All American Pipeline in a report on Thursday, February 8th. Wolfe Research lowered shares of Plains All American Pipeline from a “market perform” rating to an “underperform” rating in a report on Tuesday, April 24th. Seaport Global Securities raised shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $25.00 in a report on Thursday, February 8th. Finally, Robert W. Baird set a $22.00 price objective on shares of Plains All American Pipeline and gave the stock a “hold” rating in a report on Wednesday, February 7th.

Get Plains All American Pipeline alerts:

Several institutional investors have recently modified their holdings of PAA. Brookfield Asset Management Inc. boosted its stake in Plains All American Pipeline by 236.3% in the first quarter. Brookfield Asset Management Inc. now owns 9,103,919 shares of the pipeline company’s stock valued at $200,560,000 after acquiring an additional 6,397,059 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Plains All American Pipeline by 2,527.0% in the first quarter. Summit Trail Advisors LLC now owns 4,061,452 shares of the pipeline company’s stock valued at $4,061,000 after acquiring an additional 3,906,847 shares during the last quarter. BlackRock Inc. boosted its stake in Plains All American Pipeline by 71.3% in the first quarter. BlackRock Inc. now owns 4,251,747 shares of the pipeline company’s stock valued at $93,666,000 after acquiring an additional 1,769,523 shares during the last quarter. Natixis boosted its stake in Plains All American Pipeline by 539.8% in the first quarter. Natixis now owns 1,722,671 shares of the pipeline company’s stock valued at $37,479,000 after acquiring an additional 1,453,400 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC bought a new position in Plains All American Pipeline in the first quarter valued at approximately $28,561,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Shares of Plains All American Pipeline traded down $0.23, hitting $24.62, during mid-day trading on Thursday, according to Marketbeat Ratings. 133,086 shares of the stock were exchanged, compared to its average volume of 2,499,173. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.31 and a beta of 0.72. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 1.03. Plains All American Pipeline has a twelve month low of $18.38 and a twelve month high of $28.42.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, May 8th. The pipeline company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $7.38 billion. Plains All American Pipeline had a net margin of 2.50% and a return on equity of 11.09%. The company’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. analysts forecast that Plains All American Pipeline will post 1.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, April 30th. Plains All American Pipeline’s dividend payout ratio is currently 127.66%.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.