Plains All American Pipeline Lp (NASDAQ:PAA) Receives $22.38 Consensus Target Price from Brokerages

Shares of Plains All American Pipeline Lp (NASDAQ:PAA) have been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $22.5385.

PAA has been the subject of several research reports. Scotiabank boosted their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Citigroup boosted their price objective on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Stifel Nicolaus boosted their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, March 6th. Morgan Stanley upped their target price on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th.

Plains All American Pipeline Price Performance

PAA opened at $24.15 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.94 and a quick ratio of 0.88. The firm’s 50 day moving average is $22.06. Plains All American Pipeline has a twelve month low of $15.69 and a twelve month high of $24.26. The stock has a market capitalization of $17.04 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.51.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings data on Friday, May 8th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). Plains All American Pipeline had a net margin of 2.53% and a return on equity of 12.17%. The company had revenue of $12.47 billion for the quarter. During the same period last year, the firm earned $0.39 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts expect that Plains All American Pipeline will post 1.59 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 1st were issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Friday, May 1st. Plains All American Pipeline’s dividend payout ratio is currently 127.48%.

Institutional Trading of Plains All American Pipeline

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAA. CIBC Bancorp USA Inc. purchased a new stake in Plains All American Pipeline during the third quarter valued at approximately $87,462,000. Goldman Sachs Group Inc. increased its stake in shares of Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after purchasing an additional 3,033,216 shares in the last quarter. BROOKFIELD Corp ON increased its stake in shares of Plains All American Pipeline by 428.2% in the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock worth $82,430,000 after purchasing an additional 2,992,549 shares in the last quarter. Morgan Stanley increased its stake in shares of Plains All American Pipeline by 40.2% in the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after purchasing an additional 2,833,161 shares in the last quarter. Finally, Berkley W R Corp purchased a new stake in shares of Plains All American Pipeline in the third quarter worth $32,871,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

About Plains All American Pipeline

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.