Plains All American Pipeline (NASDAQ:PAA) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Plains All American Pipeline (NASDAQ:PAA) in a research report released on Friday, MarketBeat.com reports. The firm issued a buy rating and a $27.00 target price on the stock.

Several other analysts have also weighed in on the company. Weiss Ratings raised Plains All American Pipeline from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, September 29th. Barclays upped their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, September 21st. Citigroup increased their target price on Plains All American Pipeline from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, September 17th. Truist Financial lifted their target price on Plains All American Pipeline from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, Zacks Research upgraded Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Two equities research analysts have 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.73.

Plains All American Pipeline Price Performance

Shares of PAA stock opened at $24.34 on Friday. The firm has a fifty day moving average of $24.62 and a two-hundred day moving average of $23.31. The firm has a market cap of $17.17 billion, a P/E ratio of 6.74, a P/E/G ratio of 8.69 and a beta of 0.57. Plains All American Pipeline has a 1-year low of $15.69 and a 1-year high of $26.39. 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 issued its earnings results on Friday, August 7th. The company reported $0.41 earnings per share (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 company had revenue of $17.69 billion during the quarter. During the same quarter in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was up 66.3% on a year-over-year basis. As a group, research analysts anticipate that Plains All American Pipeline will post 1.72 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, October 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 46.26%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently modified their holdings of PAA. BROOKFIELD Corp ON grew its holdings in shares of Plains All American Pipeline by 428.2% during the first quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company’s stock valued at $82,430,000 after purchasing an additional 2,992,549 shares during the last quarter. Cohen & Steers Inc. raised its position in shares of Plains All American Pipeline by 97.9% during the 4th quarter. Cohen & Steers Inc. now owns 2,502,309 shares of the company’s stock worth $44,941,000 after purchasing an additional 1,237,877 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Plains All American Pipeline during the 1st quarter worth approximately $16,819,000. NEOS Investment Management LLC raised its position in shares of Plains All American Pipeline by 34.6% during the 2nd 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. Finally, Angeles Wealth Management LLC bought a new stake in shares of Plains All American Pipeline in the 1st quarter worth approximately $4,305,000. Institutional investors own 41.78% of the company’s stock.

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.