Plains All American Pipeline (NASDAQ:PAA) Price Target Raised to $23.00

Plains All American Pipeline (NASDAQ:PAA) had its price objective upped by Morgan Stanley from $21.00 to $23.00 in a research note issued to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also recently weighed in on PAA. Citigroup boosted their price target on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Bank of America lowered Plains All American Pipeline from a “neutral” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Wednesday, January 28th. Scotiabank reissued an “outperform” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a research report on Monday, February 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Plains All American Pipeline in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Plains All American Pipeline currently has an average rating of “Hold” and a consensus target price of $21.75.

Plains All American Pipeline Trading Down 0.4%

Shares of PAA stock opened at $21.67 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Plains All American Pipeline has a 12 month low of $15.57 and a 12 month high of $22.29. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 3.41 and a beta of 0.59. The company’s fifty day simple moving average is $20.29.

Plains All American Pipeline (NASDAQ:PAA) last announced its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.During the same period in the prior year, the company posted $0.42 EPS. Plains All American Pipeline’s quarterly revenue was down 12.2% on a year-over-year basis.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.38. Plains All American Pipeline’s payout ratio is 100.60%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of Plains All American Pipeline in the third quarter worth $33,000. Caldwell Trust Co bought a new position in Plains All American Pipeline in the 3rd quarter worth about $38,000. Newbridge Financial Services Group Inc. increased its stake in Plains All American Pipeline by 40.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $41,000 after acquiring an additional 655 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline in the 4th quarter valued at about $42,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Plains All American Pipeline by 468.7% in the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock valued at $44,000 after acquiring an additional 2,128 shares in the last quarter. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.