Plains All American Pipeline Lp (PAA) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst sentiment is moderately bullish: Eighteen analysts give Plains All American Pipeline a consensus “Moderate Buy” rating, with an average 12-month price target of $26.07.
• Results were mixed: The company missed quarterly EPS estimates by $0.44, reporting a loss of $0.04 per share, while revenue rose 31.1% year over year to $15.17 billion.
• Dividend yield is 7.1%: PAA announced a quarterly dividend of $0.4175 per share, or $1.67 annualized.

Shares of Plains All American Pipeline Lp (NASDAQ:PAA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eighteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $26.07.

PAA has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Plains All American Pipeline from a "buy" rating to a "hold" rating in a research report on Saturday. Scotiabank reiterated an "outperform" rating and set a $28.00 price target on shares of Plains All American Pipeline in a research note on Thursday, October 15th. Raymond James Financial reissued a "strong-buy" rating and issued a $28.00 price target on shares of Plains All American Pipeline in a research report on Monday, October 19th. Morgan Stanley boosted their price target on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $23.67 on Wednesday. The firm has a market capitalization of $16.70 billion, a P/E ratio of 7.89, a P/E/G ratio of 8.36 and a beta of 0.58. Plains All American Pipeline has a 52 week low of $16.50 and a 52 week high of $26.98. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm's 50 day moving average is $25.15 and its two-hundred day moving average is $22.99.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last released its quarterly earnings data on Friday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.44). The company had revenue of $15.17 billion for the quarter. Plains All American Pipeline had a return on equity of 12.70% and a net margin of 4.81%. The company's quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Research analysts forecast that Plains All American Pipeline will post 1.73 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a dividend of $0.4175 per share. The ex-dividend date is Friday, October 30th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.1%. Plains All American Pipeline's payout ratio is 55.67%.

Institutional Trading of Plains All American Pipeline

Several institutional investors and hedge funds have recently made changes to their positions in PAA. BROOKFIELD Corp ON grew its stake in Plains All American Pipeline by 428.2% during the 1st quarter. BROOKFIELD Corp ON now owns 3,691,435 shares of the company's stock worth $82,430,000 after buying an additional 2,992,549 shares during the last quarter. Infrastructure Capital Advisors LLC increased its position in Plains All American Pipeline by 4.4% during the first quarter. Infrastructure Capital Advisors LLC now owns 3,089,992 shares of the company's stock worth $69,000,000 after buying an additional 130,164 shares during the period. Bollard Group LLC lifted its stake in Plains All American Pipeline by 7.7% in the first quarter. Bollard Group LLC now owns 1,215,856 shares of the company's stock valued at $27,150,000 after buying an additional 86,602 shares during the last quarter. NEOS Investment Management LLC lifted its stake in Plains All American Pipeline by 34.6% in the second quarter. NEOS Investment Management LLC now owns 774,913 shares of the company's stock valued at $17,250,000 after buying an additional 199,296 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new stake in Plains All American Pipeline in the first quarter valued at approximately $16,819,000. 41.78% of the stock is owned by hedge funds and other institutional investors.

About Plains All American Pipeline

Plains All American Pipeline, L.P. is a midstream energy company focused on the transportation, storage, and marketing of crude oil and natural gas liquids (NGLs). Its infrastructure includes pipelines, gathering systems, storage facilities, and terminals. The company's systems connect energy-producing regions with refineries and other markets, serving producers, refiners, and other energy customers. Its operations span the United States and Canada. Plains All American Pipeline operates as a master limited partnership and is listed under the ticker symbol PAA.

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