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

Key Points

• Analysts hold a mixed view of Plains All American Pipeline: Among 17 firms, seven rate the stock a buy, seven recommend holding it, two rate it a sell and one gives it a strong buy. The average 12-month price target is $23.54.
• Institutional investors modestly increased their positions, while hedge funds and other institutions collectively own 41.78% of PAA’s shares.
• PAA reported quarterly EPS of $0.41, below the $0.50 consensus estimate, although revenue rose 66.3% year over year to $17.69 billion. The company maintains a quarterly dividend of $0.4175 per share, equivalent to a 6.5% annualized yield.

Shares of Plains All American Pipeline Lp (NASDAQ:PAA - Get Free Report) have received an average recommendation of "Hold" from the seventeen research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $23.5385.

PAA has been the subject of several research reports. Zacks Research raised Plains All American Pipeline from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. The Goldman Sachs Group raised shares of Plains All American Pipeline from a "sell" rating to a "neutral" rating and raised their price objective for the company from $18.00 to $24.00 in a research note on Wednesday, June 3rd. Citigroup upped their target price on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Truist Financial boosted their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded Plains All American Pipeline from a "buy (b-)" rating to a "buy (b+)" rating in a research note on Tuesday.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PAA. D.A. Davidson & CO. increased its position in shares of Plains All American Pipeline by 1.6% in the 1st quarter. D.A. Davidson & CO. now owns 28,439 shares of the company's stock valued at $635,000 after purchasing an additional 453 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Plains All American Pipeline by 1.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 30,124 shares of the company's stock worth $671,000 after purchasing an additional 509 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Plains All American Pipeline by 3.4% during the second quarter. HB Wealth Management LLC now owns 15,988 shares of the company's stock worth $356,000 after purchasing an additional 525 shares in the last quarter. Summit Financial LLC grew its stake in shares of Plains All American Pipeline by 1.0% during the fourth quarter. Summit Financial LLC now owns 61,265 shares of the company's stock worth $1,100,000 after purchasing an additional 599 shares in the last quarter. Finally, Symphony Financial Services Inc. increased its holdings in Plains All American Pipeline by 1.4% in the fourth quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company's stock valued at $943,000 after buying an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Stock Performance

Shares of NASDAQ:PAA opened at $25.51 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.10. The business's 50 day moving average price is $23.50 and its 200-day moving average price is $22.43. The firm has a market capitalization of $18.00 billion, a PE ratio of 7.07, a P/E/G ratio of 8.87 and a beta of 0.50. Plains All American Pipeline has a 1 year low of $15.69 and a 1 year high of $25.75.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.09). The business 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%. The company's revenue was up 66.3% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. As a group, equities research analysts expect that Plains All American Pipeline will post 1.77 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.4175 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date was Friday, July 31st. Plains All American Pipeline's dividend payout ratio is presently 46.26%.

Plains All American Pipeline Company Profile

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.

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