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

Key Points

• Plains All American Pipeline, L.P. has received a consensus rating of "Hold" from analysts, with recommendations including one sell, eight holds, three buys, and one strong buy.
• The stock has a current price of $17.35, with a 52-week high of $21.00 and a low of $15.57, reflecting its market volatility.
• Plains All American recently declared a quarterly dividend of $0.38, resulting in an annual yield of 8.8% despite a high payout ratio of 172.73%.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) have received a consensus recommendation of "Hold" from the thirteen research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.5833.

A number of equities research analysts have issued reports on PAA shares. JPMorgan Chase & Co. set a $20.00 target price on shares of Plains All American Pipeline in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $20.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 16th. Morgan Stanley decreased their price target on shares of Plains All American Pipeline from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 26th. Finally, Mizuho set a $22.00 price objective on shares of Plains All American Pipeline and gave the company an "outperform" rating in a report on Wednesday, June 18th.

Plains All American Pipeline Stock Performance

Shares of NYSE PAA opened at $17.35 on Friday. The firm's 50-day moving average price is $18.03 and its two-hundred day moving average price is $18.07. Plains All American Pipeline has a 52-week low of $15.57 and a 52-week high of $21.00. The stock has a market capitalization of $12.20 billion, a P/E ratio of 23.77 and a beta of 0.80. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The pipeline company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. The firm's revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. As a group, sell-side analysts forecast that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 8.8%. The ex-dividend date was Thursday, July 31st. Plains All American Pipeline's payout ratio is presently 172.73%.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in Plains All American Pipeline by 31.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,970 shares of the pipeline company's stock valued at $879,000 after purchasing an additional 10,412 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Plains All American Pipeline by 5.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,334 shares of the pipeline company's stock valued at $1,127,000 after purchasing an additional 2,891 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Plains All American Pipeline by 32.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 28,283 shares of the pipeline company's stock valued at $566,000 after purchasing an additional 6,874 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Plains All American Pipeline in the 1st quarter valued at about $218,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Plains All American Pipeline by 61.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,070 shares of the pipeline company's stock valued at $1,521,000 after purchasing an additional 28,916 shares during the period. Institutional investors own 41.78% of the company's stock.

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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