Plains All American Pipeline Lp (NASDAQ:PAA) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Plains All American Pipeline has a consensus “Hold” rating among 17 brokerages, with seven buys, six holds, three sells and one strong buy. Analysts’ average 12-month price target is $23.23.
• The company reported quarterly EPS of $0.39, slightly below the $0.41 consensus estimate, while revenue rose 8.7% year over year to $12.47 billion.
• Plains declared a quarterly dividend of $0.4175, equal to $1.67 annually and a 6.8% yield; institutional investors own 41.78% of the company.

Shares of Plains All American Pipeline Lp (NASDAQ:PAA - Get Free Report) have been assigned a consensus rating of "Hold" from the seventeen brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $23.2308.

A number of research analysts have commented on the company. Wells Fargo & Company increased their target price on Plains All American Pipeline from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 12th. Morgan Stanley boosted their price target on Plains All American Pipeline from $23.00 to $25.00 and gave the company an "equal weight" rating in a report on Wednesday, May 20th. Barclays upped their price target on Plains All American Pipeline from $21.00 to $23.00 and gave the company an "underweight" rating in a research report on Thursday, July 16th. Mizuho raised their price objective on Plains All American Pipeline from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Finally, US Capital Advisors downgraded shares of Plains All American Pipeline from a "strong-buy" rating to a "moderate buy" rating in a report on Friday, May 29th.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $24.57 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 0.94. Plains All American Pipeline has a 1 year low of $15.69 and a 1 year high of $25.03. The firm's 50-day simple moving average is $22.97 and its 200-day simple moving average is $21.81. The firm has a market cap of $17.33 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 9.75 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The firm had revenue of $12.47 billion during the quarter. Plains All American Pipeline had a return on equity of 12.17% and a net margin of 2.53%.The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. Equities analysts forecast that Plains All American Pipeline will post 1.55 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 127.48%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently modified their holdings of the business. Allied Private Wealth LLC bought a new position in Plains All American Pipeline in the second quarter worth about $33,000. Apella Capital LLC boosted its stake in Plains All American Pipeline by 6.2% in the second quarter. Apella Capital LLC now owns 35,769 shares of the company's stock valued at $811,000 after acquiring an additional 2,080 shares during the period. DV Trading LLC grew its holdings in shares of Plains All American Pipeline by 148.1% during the first quarter. DV Trading LLC now owns 82,454 shares of the company's stock valued at $1,841,000 after purchasing an additional 49,221 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Plains All American Pipeline by 2.8% during the first quarter. NewEdge Advisors LLC now owns 121,215 shares of the company's stock valued at $2,707,000 after purchasing an additional 3,246 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Plains All American Pipeline by 62.6% during the 1st quarter. Sunbelt Securities Inc. now owns 54,597 shares of the company's stock worth $1,219,000 after purchasing an additional 21,028 shares during the period. Institutional investors own 41.78% of the company's stock.

About Plains All American Pipeline

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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