Plains All American Pipeline (NYSE:PAA) Price Target Raised to $21.00

Plains All American Pipeline (NYSE:PAA) had its price objective lifted by Wells Fargo & Company from $20.00 to $21.00 in a research note published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the pipeline company’s stock.

A number of other analysts have also recently commented on the company. Bank of America cut Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a research report on Wednesday, January 28th. Barclays boosted their target price on Plains All American Pipeline from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday. Scotiabank reissued an “outperform” rating on shares of Plains All American Pipeline in a research note on Friday, January 16th. Morgan Stanley lifted their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 25th. Finally, Mizuho set a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.09.

Plains All American Pipeline Stock Up 1.6%

Shares of Plains All American Pipeline stock opened at $19.78 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The company has a 50-day moving average of $18.54 and a 200 day moving average of $17.65. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 27.10 and a beta of 0.60. Plains All American Pipeline has a 1 year low of $15.57 and a 1 year high of $20.77.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, February 6th. The pipeline company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%.Plains All American Pipeline’s revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. As a group, sell-side analysts anticipate that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 8.4%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, January 30th. Plains All American Pipeline’s payout ratio is currently 100.60%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its holdings in shares of Plains All American Pipeline by 2.2% in the third quarter. Alps Advisors Inc. now owns 76,066,823 shares of the pipeline company’s stock worth $1,297,700,000 after acquiring an additional 1,663,908 shares during the period. Invesco Ltd. boosted its position in Plains All American Pipeline by 2.1% in the third quarter. Invesco Ltd. now owns 33,280,692 shares of the pipeline company’s stock worth $567,769,000 after purchasing an additional 677,959 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Plains All American Pipeline by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the pipeline company’s stock valued at $360,097,000 after purchasing an additional 3,033,216 shares during the period. JPMorgan Chase & Co. increased its position in shares of Plains All American Pipeline by 15.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,198,958 shares of the pipeline company’s stock valued at $122,814,000 after purchasing an additional 967,059 shares during the last quarter. Finally, BROOKFIELD Corp ON lifted its stake in shares of Plains All American Pipeline by 18.9% in the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company’s stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

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.