Plains All American Pipeline, L.P. (NYSE:PAA) Receives $20.58 Consensus Target Price from 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 been assigned an average rating of "Hold" from the thirteen brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $20.5833.

PAA has been the topic of a number of research analyst reports. Barclays restated an "underweight" rating on shares of Plains All American Pipeline in a research note on Friday, August 8th. Scotiabank reiterated an "outperform" rating on shares of Plains All American Pipeline in a research report on Monday, September 8th. Wolfe Research reiterated a "peer perform" rating on shares of Plains All American Pipeline in a research report on Friday, July 25th. JPMorgan Chase & Co. set a $20.00 target price on shares of Plains All American Pipeline in a research report on Friday, August 8th. Finally, UBS Group set a $25.00 target price on shares of Plains All American Pipeline and gave the stock a "buy" rating in a research report on Tuesday, July 15th.

Plains All American Pipeline Price Performance

Shares of PAA traded up $0.05 during mid-day trading on Friday, reaching $17.41. The company had a trading volume of 1,738,277 shares, compared to its average volume of 3,472,696. The company's 50 day simple moving average is $17.94 and its 200 day simple moving average is $18.00. Plains All American Pipeline has a 1-year low of $15.57 and a 1-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 company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 23.85 and a beta of 0.80.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The pipeline company reported $0.36 earnings per share 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%. During the same period in the prior year, the company posted $0.31 EPS. The company's quarterly revenue was down 16.6% on a year-over-year basis. Analysts expect that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.38 per share. The ex-dividend date 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 hedge funds have recently added to or reduced their stakes in PAA. Invesco Ltd. boosted its position in Plains All American Pipeline by 10.1% during the 2nd quarter. Invesco Ltd. now owns 32,602,733 shares of the pipeline company's stock worth $597,282,000 after buying an additional 3,003,351 shares during the period. BROOKFIELD Corp ON lifted its position in shares of Plains All American Pipeline by 50.2% in the 1st quarter. BROOKFIELD Corp ON now owns 5,698,359 shares of the pipeline company's stock worth $113,967,000 after purchasing an additional 1,904,261 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Plains All American Pipeline by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company's stock worth $422,894,000 after purchasing an additional 1,524,185 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Plains All American Pipeline by 7.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company's stock worth $329,279,000 after purchasing an additional 1,166,369 shares during the period. Finally, BROOKFIELD Corp ON lifted its position in shares of Plains All American Pipeline by 18.9% in the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the pipeline company's stock worth $124,112,000 after purchasing an additional 1,076,291 shares during the period. 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.