Plains All American Pipeline (NYSE:PAA) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Plains All American Pipeline (NYSE:PAA) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday.

Several other equities analysts also recently issued reports on the stock. Scotiabank began coverage on shares of Plains All American Pipeline in a report on Monday, April 8th. They set a sector outperform rating and a $23.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a report on Friday, April 12th. Truist Financial upped their price objective on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a report on Tuesday, March 19th. UBS Group upped their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a report on Friday, April 12th. Finally, Citigroup upped their price objective on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $18.96.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $17.87 on Wednesday. The company has a market capitalization of $12.53 billion, a PE ratio of 12.86 and a beta of 1.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The company has a 50-day simple moving average of $17.27 and a two-hundred day simple moving average of $16.07. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. Research analysts expect that Plains All American Pipeline will post 1.27 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.3175 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a yield of 7.11%. Plains All American Pipeline’s dividend payout ratio is presently 91.37%.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc boosted its position in Plains All American Pipeline by 14.8% in the 3rd quarter. IFP Advisors Inc now owns 5,226 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 674 shares in the last quarter. Clarus Group Inc. boosted its position in Plains All American Pipeline by 1.0% in the 1st quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock worth $1,221,000 after purchasing an additional 682 shares in the last quarter. Covenant Asset Management LLC boosted its position in Plains All American Pipeline by 3.7% in the 1st quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock worth $387,000 after purchasing an additional 795 shares in the last quarter. First National Trust Co boosted its position in Plains All American Pipeline by 10.1% in the 4th quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock worth $171,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Plains All American Pipeline by 1.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock worth $1,411,000 after purchasing an additional 1,089 shares in the last quarter. Hedge funds and other institutional investors 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.