Plains All American Pipeline, L.P. (NYSE:PAA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been given an average rating of “Hold” by the twelve brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.60.

PAA has been the topic of a number of recent analyst reports. Scotiabank decreased their price objective on Plains All American Pipeline from $20.00 to $19.00 and set a “sector outperform” rating for the company in a report on Thursday, November 13th. JPMorgan Chase & Co. decreased their price target on Plains All American Pipeline from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 18th. Barclays lowered their price target on Plains All American Pipeline from $18.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, October 7th. Morgan Stanley upped their price objective on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $22.00 price objective (down from $24.00) on shares of Plains All American Pipeline in a research report on Friday, October 24th.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA opened at $17.80 on Friday. 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 firm has a market cap of $12.56 billion, a PE ratio of 24.39 and a beta of 0.59. The firm’s 50 day simple moving average is $17.10 and its 200-day simple moving average is $17.52. Plains All American Pipeline has a one year low of $15.57 and a one year high of $21.00.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, equities analysts predict that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.5%. The ex-dividend date was Friday, October 31st. Plains All American Pipeline’s payout ratio is presently 125.62%.

Institutional Trading of Plains All American Pipeline

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PAA. Exencial Wealth Advisors LLC boosted its position in Plains All American Pipeline by 1.5% in the third quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the pipeline company’s stock valued at $698,000 after buying an additional 601 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Plains All American Pipeline by 0.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 80,515 shares of the pipeline company’s stock valued at $1,475,000 after acquiring an additional 628 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Plains All American Pipeline by 5.2% in the second quarter. HB Wealth Management LLC now owns 15,247 shares of the pipeline company’s stock worth $279,000 after acquiring an additional 748 shares during the period. Blue Trust Inc. raised its holdings in shares of Plains All American Pipeline by 76.1% during the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 761 shares during the last quarter. Finally, Clarus Group Inc. lifted its position in Plains All American Pipeline by 0.9% during the second quarter. Clarus Group Inc. now owns 93,131 shares of the pipeline company’s stock valued at $1,706,000 after purchasing an additional 801 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

About Plains All American Pipeline

Plains All American Pipeline, L.P. (NYSE: PAA) is a prominent North American midstream energy company that specializes in the transportation, storage and marketing of crude oil, natural gas liquids (NGLs) and refined products. The partnership’s integrated infrastructure network supports the movement of hydrocarbons from major supply basins to domestic and export markets, providing connectivity between production areas, refineries and marine terminals. Plains All American’s services include long-haul and short-haul pipeline systems, inventory services and fee-based storage contracts, helping producers and refiners optimize supply chains and manage market access.

The company operates an extensive onshore pipeline network that spans major U.S.