Plains All American Pipeline (NASDAQ:PAA) Upgraded 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 research note issued to investors on Saturday morning.

Other equities research analysts have also recently issued research reports about the company. US Capital Advisors cut Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. Scotiabank raised their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Morgan Stanley lifted their price objective 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, May 20th. Zacks Research raised shares of Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Barclays increased their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Hold” and a consensus price target of $23.46.

Plains All American Pipeline Stock Performance

PAA opened at $23.75 on Friday. The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 6.58, a P/E/G ratio of 8.27 and a beta of 0.50. The business’s 50-day moving average price is $23.07 and its two-hundred day moving average price is $22.14. Plains All American Pipeline has a 1 year low of $15.69 and a 1 year high of $25.03. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). The firm had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.Plains All American Pipeline’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Equities analysts expect that Plains All American Pipeline will post 1.77 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.4175 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.67 annualized dividend and a dividend yield of 7.0%. Plains All American Pipeline’s payout ratio is 46.26%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors and hedge funds have recently made changes to their positions in PAA. Invesco Ltd. grew its stake in shares of Plains All American Pipeline by 0.7% in the fourth quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock valued at $601,818,000 after buying an additional 228,106 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Plains All American Pipeline by 17.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after acquiring an additional 3,033,216 shares in the last quarter. Morgan Stanley raised its position in Plains All American Pipeline by 40.2% during the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock worth $177,467,000 after acquiring an additional 2,833,161 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Plains All American Pipeline by 2.9% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock valued at $171,377,000 after acquiring an additional 265,555 shares during the last quarter. Finally, BROOKFIELD Corp ON lifted its stake in Plains All American Pipeline by 18.9% in the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock valued at $124,112,000 after acquiring an additional 1,076,291 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

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.