Mizuho set a $22.00 price target on Plains All American Pipeline (NYSE:PAA - Free Report) in a report released on Wednesday, MarketBeat reports. The firm currently has an outperform rating on the pipeline company's stock.
A number of other brokerages have also recently commented on PAA. UBS Group restated a "buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Scotiabank cut their price target on Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Wall Street Zen upgraded Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Morgan Stanley reiterated an "equal weight" rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 9th. Finally, Citigroup cut their price target on Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.50.
Check Out Our Latest Stock Report on PAA
Plains All American Pipeline Stock Up 0.2%
Shares of PAA traded up $0.03 during midday trading on Wednesday, reaching $18.44. 7,511,044 shares of the company were exchanged, compared to its average volume of 3,223,607. The stock has a 50-day moving average price of $17.32 and a 200-day moving average price of $18.41. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 25.26 and a beta of 0.66. Plains All American Pipeline has a 1-year low of $15.58 and a 1-year high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.
Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The firm's revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Research analysts expect that Plains All American Pipeline will post 1.52 earnings per share for the current year.
Plains All American Pipeline Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 8.24%. The ex-dividend date was Thursday, May 1st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 163.44%.
Hedge Funds Weigh In On Plains All American Pipeline
Several institutional investors have recently made changes to their positions in PAA. Van ECK Associates Corp grew its holdings in shares of Plains All American Pipeline by 56.8% during the fourth quarter. Van ECK Associates Corp now owns 139,047 shares of the pipeline company's stock valued at $2,375,000 after purchasing an additional 50,391 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Plains All American Pipeline by 16.9% in the 4th quarter. Sanctuary Advisors LLC now owns 64,854 shares of the pipeline company's stock worth $1,108,000 after buying an additional 9,360 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Plains All American Pipeline by 10.4% in the 4th quarter. D.A. Davidson & CO. now owns 25,271 shares of the pipeline company's stock worth $432,000 after buying an additional 2,384 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in Plains All American Pipeline by 30.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 93,562 shares of the pipeline company's stock worth $1,598,000 after buying an additional 21,969 shares in the last quarter. Finally, Financial Sense Advisors Inc. grew its holdings in Plains All American Pipeline by 5.4% in the 4th quarter. Financial Sense Advisors Inc. now owns 16,027 shares of the pipeline company's stock worth $274,000 after buying an additional 823 shares in the last quarter. 41.78% of the stock is owned by institutional investors.
About Plains All American Pipeline
(
Get Free Report)
Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.
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