Stifel Nicolaus Boosts Plains All American Pipeline (NYSE:PAA) Price Target to $22.00

Plains All American Pipeline (NYSE:PAA) had its price objective raised by Stifel Nicolaus from $18.00 to $22.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the pipeline company’s stock.

PAA has been the topic of a number of other reports. Citigroup raised their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a research note on Friday, March 1st. UBS Group raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a research note on Friday, April 12th. Truist Financial raised their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Scotiabank started coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a sector outperform rating and a $23.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Plains All American Pipeline currently has a consensus rating of Moderate Buy and a consensus target price of $18.96.

Plains All American Pipeline Stock Up 1.4 %

Shares of Plains All American Pipeline stock opened at $17.94 on Tuesday. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 12.91 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. Plains All American Pipeline has a 52-week low of $12.07 and a 52-week high of $19.03. The stock has a 50-day simple moving average of $17.04 and a 200-day simple moving average of $15.95.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. On average, equities research analysts expect that Plains All American Pipeline will post 1.26 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is presently 91.37%.

Institutional Trading of Plains All American Pipeline

Several institutional investors have recently bought and sold shares of PAA. Moneta Group Investment Advisors LLC boosted its stake in Plains All American Pipeline by 109,124.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 46,409,609 shares of the pipeline company’s stock valued at $545,777,000 after buying an additional 46,367,119 shares in the last quarter. Blackstone Inc. boosted its stake in Plains All American Pipeline by 131.6% in the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company’s stock valued at $371,771,000 after buying an additional 13,787,485 shares in the last quarter. Alps Advisors Inc. boosted its stake in Plains All American Pipeline by 14.3% in the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company’s stock valued at $1,026,923,000 after buying an additional 8,406,683 shares in the last quarter. Invesco Ltd. boosted its stake in Plains All American Pipeline by 38.9% in the 1st quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock valued at $187,388,000 after buying an additional 4,880,244 shares in the last quarter. Finally, UBS Group AG boosted its stake in Plains All American Pipeline by 89.3% in the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company’s stock valued at $129,630,000 after buying an additional 4,035,328 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.