Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Rating of "Hold" by Analysts

Key Points

• Plains All American Pipeline has received an average analyst recommendation of "Hold", with one sell, eight hold, three buy, and one strong buy rating among thirteen research firms.
• As of the latest information, the company reported Q2 earnings of $0.36 per share, exceeding the consensus estimate, despite a 16.6% decline in year-over-year revenue.
• Plains All American Pipeline announced a quarterly dividend of $0.38, reflecting a yield of 8.7% and a high dividend payout ratio of 172.73%.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) have earned a consensus rating of "Hold" from the thirteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.6667.

Several research analysts recently weighed in on PAA shares. Citigroup set a $18.00 target price on shares of Plains All American Pipeline and gave the company a "neutral" rating in a research note on Friday, August 8th. Raymond James Financial reissued a "strong-buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Mizuho set a $22.00 target price on shares of Plains All American Pipeline and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Zacks Research raised shares of Plains All American Pipeline to a "hold" rating in a research note on Monday, August 11th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Plains All American Pipeline in a research note on Friday, July 25th.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $17.52 on Monday. Plains All American Pipeline has a one year low of $15.57 and a one year high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The business has a fifty day moving average of $18.25 and a two-hundred day moving average of $18.37. The company has a market cap of $12.32 billion, a P/E ratio of 24.00 and a beta of 0.73.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The firm's quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, analysts predict that Plains All American Pipeline will post 1.52 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.52 annualized dividend and a yield of 8.7%. Plains All American Pipeline's dividend payout ratio (DPR) is currently 172.73%.

Institutional Investors Weigh In On Plains All American Pipeline

Several large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC increased its holdings in shares of Plains All American Pipeline by 90.3% during the second quarter. Corient Private Wealth LLC now owns 460,632 shares of the pipeline company's stock valued at $8,439,000 after purchasing an additional 218,606 shares during the period. BROOKFIELD Corp ON increased its holdings in shares of Plains All American Pipeline by 18.9% during the second quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company's stock valued at $124,112,000 after purchasing an additional 1,076,291 shares during the period. Curi Capital LLC acquired a new position in shares of Plains All American Pipeline during the second quarter valued at $1,113,000. Ameriprise Financial Inc. increased its holdings in shares of Plains All American Pipeline by 10.1% during the second quarter. Ameriprise Financial Inc. now owns 39,778 shares of the pipeline company's stock valued at $716,000 after purchasing an additional 3,648 shares during the period. Finally, Sentinel Wealth Management Inc. acquired a new position in shares of Plains All American Pipeline during the second quarter valued at $224,000. 41.78% of the stock is owned by institutional investors and hedge funds.

About Plains All American Pipeline

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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