Plains All American Pipeline, L.P. (NYSE:PAA) has been given a consensus recommendation of “Buy” by the twenty-two ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $28.06.
PAA has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, October 1st. Stifel Nicolaus upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and upped their target price for the company from $26.00 to $28.00 in a report on Sunday, September 23rd. Johnson Rice initiated coverage on shares of Plains All American Pipeline in a report on Thursday, September 13th. They issued a “buy” rating and a $31.00 target price for the company. Morgan Stanley set a $30.00 target price on shares of Plains All American Pipeline and gave the company a “buy” rating in a report on Wednesday, November 7th. Finally, ValuEngine cut shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Thursday, November 1st.
Shares of Plains All American Pipeline stock traded up $0.14 during trading hours on Monday, hitting $22.22. The company had a trading volume of 3,305,393 shares, compared to its average volume of 2,456,406. Plains All American Pipeline has a twelve month low of $19.41 and a twelve month high of $27.70. The company has a current ratio of 0.89, a quick ratio of 0.71 and a debt-to-equity ratio of 1.01. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.46 and a beta of 0.93.
Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.72%. The business had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the prior year, the business posted $0.21 EPS. The company’s revenue for the quarter was up 49.7% on a year-over-year basis. On average, analysts forecast that Plains All American Pipeline will post 1.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st were given a $0.30 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $1.20 annualized dividend and a yield of 5.40%. Plains All American Pipeline’s dividend payout ratio (DPR) is 127.66%.
A number of hedge funds have recently added to or reduced their stakes in PAA. Centaurus Financial Inc. purchased a new position in Plains All American Pipeline during the 2nd quarter worth $109,000. Pathstone Family Office LLC purchased a new position in Plains All American Pipeline during the 3rd quarter worth $131,000. Exane Derivatives raised its position in Plains All American Pipeline by 14,250.0% during the 3rd quarter. Exane Derivatives now owns 5,740 shares of the pipeline company’s stock worth $142,000 after buying an additional 5,700 shares during the last quarter. United Asset Strategies Inc. purchased a new position in Plains All American Pipeline during the 3rd quarter worth $200,000. Finally, Palo Capital Inc. purchased a new position in Plains All American Pipeline during the 3rd quarter worth $207,000. Hedge funds and other institutional investors own 48.30% of the company’s stock.
About Plains All American Pipeline
Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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