Analysts Set Plains All American Pipeline, L.P. (NYSE:PAA) Target Price at $20.40

Plains All American Pipeline, L.P. (NYSE:PAA) has earned an average recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $21.0909.

PAA has been the subject of several research reports. Mizuho set a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, January 23rd. Citigroup raised their price objective on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday. Scotiabank reissued an “outperform” rating on shares of Plains All American Pipeline in a research report on Monday. 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 research note on Monday. Finally, Wells Fargo & Company increased their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday.

Plains All American Pipeline Price Performance

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

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

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.4175 dividend. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, January 30th. This represents a $1.67 annualized dividend and a yield of 8.4%. Plains All American Pipeline’s payout ratio is 100.60%.

Institutional Investors Weigh In On Plains All American Pipeline

Several institutional investors have recently made changes to their positions in the stock. Exencial Wealth Advisors LLC lifted its position in Plains All American Pipeline by 1.5% during the third quarter. Exencial Wealth Advisors LLC now owns 40,909 shares of the pipeline company’s stock valued at $698,000 after purchasing an additional 601 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Plains All American Pipeline by 0.8% in the second 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. Newbridge Financial Services Group Inc. raised its position in Plains All American Pipeline by 40.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 655 shares in the last quarter. Blue Trust Inc. lifted its stake in 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, Sippican Capital Advisors boosted its holdings in shares of Plains All American Pipeline by 2.4% in the 4th quarter. Sippican Capital Advisors now owns 32,800 shares of the pipeline company’s stock worth $589,000 after purchasing an additional 775 shares in the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

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.