Mizuho Issues Positive Forecast for Plains All American Pipeline (NASDAQ:PAA) Stock Price

Plains All American Pipeline (NASDAQ:PAA) had its price objective boosted by Mizuho from $27.00 to $30.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. Mizuho currently has an outperform rating on the stock.

PAA has been the subject of several other reports. Barclays increased their price target on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “underweight” rating in a research report on Monday. Weiss Ratings raised Plains All American Pipeline from a “buy (b-)” rating to a “buy (b+)” rating in a research report on Tuesday, August 25th. Wall Street Zen cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Truist Financial increased their price objective on Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, US Capital Advisors cut shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.43.

Plains All American Pipeline Trading Down 1.5%

Shares of NASDAQ:PAA opened at $24.99 on Monday. The company’s 50-day moving average price is $24.64 and its two-hundred day moving average price is $23.05. 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 has a one year low of $15.69 and a one year high of $26.39. The stock has a market capitalization of $17.63 billion, a PE ratio of 6.92, a price-to-earnings-growth ratio of 8.88 and a beta of 0.52.

Plains All American Pipeline (NASDAQ:PAA) last announced 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 company had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. Plains All American Pipeline’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, equities analysts forecast that Plains All American Pipeline will post 1.75 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. Investors of record on Friday, July 31st were paid a $0.4175 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.7%. Plains All American Pipeline’s dividend payout ratio is 46.26%.

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC raised its stake in Plains All American Pipeline by 21.5% in the 4th quarter. Longfellow Investment Management Co. LLC now owns 1,594,440 shares of the company’s stock worth $28,636,000 after purchasing an additional 281,609 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Plains All American Pipeline by 17.8% during the 4th 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. NEOS Investment Management LLC increased its holdings in shares of Plains All American Pipeline by 34.6% during the second quarter. NEOS Investment Management LLC now owns 774,913 shares of the company’s stock worth $17,250,000 after purchasing an additional 199,296 shares during the period. Wealthstar Advisors LLC increased its holdings in shares of Plains All American Pipeline by 152.0% during the first quarter. Wealthstar Advisors LLC now owns 103,580 shares of the company’s stock worth $2,313,000 after purchasing an additional 62,477 shares during the period. Finally, Manning & Napier Advisors LLC raised its position in shares of Plains All American Pipeline by 33.3% in the first quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company’s stock valued at $4,466,000 after buying an additional 50,000 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides transportation, storage, gathering, logistics and related services for crude oil and natural gas liquids (NGLs). The company generally does not produce oil or gas; instead, it helps move and manage hydrocarbons from producing regions to refineries, processing facilities, export terminals and other end markets.

Plains operates an extensive network of pipelines, gathering systems, storage facilities, rail and truck transportation assets, and terminals.