Plains All American Pipeline (NASDAQ:PAA) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Plains All American Pipeline (NASDAQ:PAA) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also issued reports on PAA. Mizuho upped their target price on Plains All American Pipeline from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, September 21st. Citigroup raised their price target on shares of Plains All American Pipeline from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. Scotiabank lifted their price target on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, September 10th. Zacks Research raised shares of Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, UBS Group increased their price objective on shares of Plains All American Pipeline from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, September 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Plains All American Pipeline currently has a consensus rating of “Hold” and a consensus price target of $25.43.

Plains All American Pipeline Stock Up 0.2%

Shares of NASDAQ PAA opened at $23.75 on Friday. Plains All American Pipeline has a 1 year low of $15.69 and a 1 year high of $26.39. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 8.19 and a beta of 0.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12. The stock’s 50-day simple moving average is $24.66 and its 200-day simple moving average is $23.21.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The business had revenue of $17.69 billion during the quarter. During the same period in the prior year, the company earned $0.36 earnings per share. The business’s revenue was up 66.3% compared to the same quarter last year. As a group, equities analysts anticipate that Plains All American Pipeline will post 1.78 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, October 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 46.26%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently made changes to their positions in the company. Financial Life Planners bought a new position in Plains All American Pipeline during the first quarter worth $27,000. Allied Private Wealth LLC bought a new stake in Plains All American Pipeline during the second quarter valued at $33,000. Bullseye Investment Management LLC bought a new stake in Plains All American Pipeline during the second quarter valued at $44,000. Scarborough Advisors LLC acquired a new stake in shares of Plains All American Pipeline during the first quarter worth $80,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Plains All American Pipeline by 1,164.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock worth $85,000 after purchasing an additional 3,494 shares during the period. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that provides midstream energy infrastructure and logistics services. The company primarily transports, stores and handles crude oil and natural gas liquids (NGLs) for producers, refiners, exporters and other energy customers.

Its operations include pipeline transportation, gathering systems, storage terminals, rail and truck facilities, and other supply-chain assets. Plains also provides terminalling, inventory management and related logistics services that connect production areas with refineries, processing facilities and export markets.

Plains All American serves key producing regions in the United States and Canada, with a significant presence in the Permian Basin and other North American oil and NGL markets.