Plains All American Pipeline (NYSE:PAA) Price Target Raised to $18.00 at TD Securities

Plains All American Pipeline (NYSE:PAA - Free Report) had its price objective hoisted by TD Securities from $17.00 to $18.00 in a report published on Monday, BayStreet.CA reports. They currently have a hold rating on the pipeline company's stock.

Several other analysts also recently commented on the stock. Citigroup boosted their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a research report on Friday, March 1st. Stifel Nicolaus boosted their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Truist Financial boosted their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. StockNews.com downgraded shares of Plains All American Pipeline from a strong-buy rating to a buy rating in a research report on Thursday. Finally, UBS Group upped their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $19.08.

Plains All American Pipeline Trading Up 0.7 %

Shares of PAA stock traded up $0.12 during trading hours on Monday, reaching $17.61. 4,022,551 shares of the stock traded hands, compared to its average volume of 3,463,333. Plains All American Pipeline has a 1-year low of $12.50 and a 1-year high of $19.03. The business has a fifty day moving average price of $17.37 and a 200 day moving average price of $16.15. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $12.35 billion, a PE ratio of 14.97 and a beta of 1.58.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm's revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Plains All American Pipeline will post 1.32 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a yield of 7.21%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline's payout ratio is currently 109.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Several large investors have recently bought and sold shares of PAA. Blackstone Inc. raised its stake in shares of Plains All American Pipeline by 131.6% in the 3rd quarter. Blackstone Inc. now owns 24,267,022 shares of the pipeline company's stock valued at $371,771,000 after buying an additional 13,787,485 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Plains All American Pipeline by 14.3% in the 3rd quarter. Alps Advisors Inc. now owns 67,031,503 shares of the pipeline company's stock valued at $1,026,923,000 after buying an additional 8,406,683 shares in the last quarter. UBS Group AG raised its stake in shares of Plains All American Pipeline by 89.3% in the 4th quarter. UBS Group AG now owns 8,556,465 shares of the pipeline company's stock valued at $129,630,000 after buying an additional 4,035,328 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Plains All American Pipeline by 11.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,772,559 shares of the pipeline company's stock valued at $180,356,000 after buying an additional 1,197,006 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Plains All American Pipeline by 69.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company's stock valued at $32,044,000 after buying an additional 747,852 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Company Profile

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.