Plains All American Pipeline Lp (NASDAQ:PAA) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Brokerage consensus remains “Hold”: Among 18 analysts, eight rate PAA a buy, seven a hold, two a sell and one a strong buy. The average 12-month price target is $25.80, modestly above the reported $25.25 share price.
• Recent financial results were mixed: Plains All American Pipeline reported $17.69 billion in revenue, up 66.3% year over year, but quarterly EPS of $0.41 missed the $0.50 consensus estimate.
• The company offers a sizable income yield: PAA declared a quarterly dividend of $0.4175, equivalent to $1.67 annually and a 6.6% yield, with a 46.26% payout ratio.

Shares of Plains All American Pipeline Lp (NASDAQ:PAA - Get Free Report) have been assigned an average recommendation of "Hold" from the eighteen brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $25.80.

A number of research firms recently commented on PAA. Barclays lifted their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the stock an "underweight" rating in a report on Monday, September 21st. 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 increased 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 report on Wednesday, July 15th. Citigroup raised their price target on shares of Plains All American Pipeline from $22.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, September 17th. Finally, UBS Group lifted their price objective on shares of Plains All American Pipeline from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, October 9th.

Plains All American Pipeline Stock Performance

Shares of PAA opened at $25.25 on Friday. The stock has a 50-day moving average of $24.77 and a two-hundred day moving average of $23.39. Plains All American Pipeline has a one year low of $15.79 and a one year high of $26.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a market cap of $17.82 billion, a P/E ratio of 6.99, a P/E/G ratio of 8.98 and a beta of 0.57.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The business's revenue was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. As a group, research analysts predict that Plains All American Pipeline will post 1.72 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.4175 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.6%. Plains All American Pipeline's dividend payout ratio is presently 46.26%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PAA. Financial Life Planners purchased a new stake in Plains All American Pipeline in the first quarter valued at $27,000. Allied Private Wealth LLC acquired a new stake in Plains All American Pipeline during the 2nd quarter worth about $33,000. Bullseye Investment Management LLC purchased a new position in shares of Plains All American Pipeline during the 2nd quarter valued at about $44,000. Scarborough Advisors LLC purchased a new position in shares of Plains All American Pipeline during the 1st quarter valued at about $80,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Plains All American Pipeline by 1,164.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company's stock valued at $85,000 after buying an additional 3,494 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company's stock.

About Plains All American Pipeline

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.