Plains All American Pipeline Lp (NASDAQ:PAA) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Plains All American Pipeline, with seven holds, seven buys, two sells and one strong buy. The average 12-month price target is $25.43.
• Recent analyst actions were generally positive, including upgrades and higher targets from Goldman Sachs, Mizuho, Morgan Stanley, Truist Financial and Raymond James; targets range from $24 to $30.
• PAA reported revenue growth of 66.3% year over year but missed quarterly EPS estimates, posting $0.41 versus the $0.50 consensus. The company’s annualized dividend is $1.67 per share, representing a 6.7% yield.

Plains All American Pipeline Lp (NASDAQ:PAA - Get Free Report) has earned a consensus recommendation of "Hold" from the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $25.4286.

A number of analysts have recently commented on PAA shares. The Goldman Sachs Group upgraded Plains All American Pipeline from a "sell" rating to a "neutral" rating and upped their target price for the stock from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Mizuho boosted their target price on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday. Morgan Stanley increased their price target on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 18th. Truist Financial lifted their price objective on shares of 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, Raymond James Financial reissued a "strong-buy" rating and set a $27.00 target price on shares of Plains All American Pipeline in a research note on Monday.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its holdings in Plains All American Pipeline by 17.8% in the 4th 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. BROOKFIELD Corp ON grew its position in shares of Plains All American Pipeline by 428.2% in 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 period. Infrastructure Capital Advisors LLC grew its position in shares of Plains All American Pipeline by 4.4% in the first quarter. Infrastructure Capital Advisors LLC now owns 3,089,992 shares of the company's stock valued at $69,000,000 after purchasing an additional 130,164 shares during the period. Cohen & Steers Inc. increased its stake in shares of Plains All American Pipeline by 97.9% during the fourth 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 in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Plains All American Pipeline by 1.9% during the 4th quarter. BNP Paribas Financial Markets now owns 1,684,860 shares of the company's stock worth $30,260,000 after purchasing an additional 31,093 shares during the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.

Plains All American Pipeline Price Performance

NASDAQ PAA opened at $24.99 on Tuesday. The firm's fifty day simple moving average is $24.64 and its two-hundred day simple moving average is $23.05. The firm has a market capitalization of $17.63 billion, a P/E ratio of 6.92, a P/E/G ratio of 8.88 and a beta of 0.52. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $26.39.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate 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 business had revenue of $17.69 billion for the quarter. During the same period in the previous year, the company posted $0.36 EPS. The company's revenue was up 66.3% on a year-over-year basis. Analysts forecast that Plains All American Pipeline will post 1.75 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The firm 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 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 currently 46.26%.

Plains All American Pipeline Company Profile

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.

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