Plains All American Pipeline's (PAA) Peer Perform Rating Reiterated at Wolfe Research

Key Points

• Wolfe Research has reiterated Plains All American Pipeline's stock rating as "peer perform," indicating a stable outlook compared to industry peers.
• Analysts have mixed opinions on the stock, with target prices ranging from $19.00 to $25.00 and an average rating of "Hold" based on various recent assessments.
• Plains All American Pipeline reported a Q1 earnings per share (EPS) of $0.39, which fell short of analysts' expectations, reflecting a slight year-on-year revenue increase of 0.1%.

Wolfe Research reissued their peer perform rating on shares of Plains All American Pipeline (NYSE:PAA - Free Report) in a report released on Friday morning, MarketBeat reports.

Several other research analysts have also weighed in on the stock. UBS Group set a $25.00 price objective on shares of Plains All American Pipeline and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Citigroup lowered their price objective on shares of Plains All American Pipeline from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Scotiabank decreased their price target on shares of Plains All American Pipeline from $20.00 to $19.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 5th. Finally, Wells Fargo & Company lowered shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of "Hold" and an average target price of $20.75.

Plains All American Pipeline Trading Up 0.8%

PAA traded up $0.16 during mid-day trading on Friday, hitting $18.62. The stock had a trading volume of 938,792 shares, compared to its average volume of 3,626,824. 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 current ratio of 1.01 and a quick ratio of 0.92. The stock's fifty day simple moving average is $17.94 and its 200-day simple moving average is $18.59. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 25.50 and a beta of 0.68.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same quarter last year, the business earned $0.41 EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts forecast that Plains All American Pipeline will post 1.52 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date is Thursday, July 31st. Plains All American Pipeline's dividend payout ratio is currently 163.44%.

Institutional Trading of Plains All American Pipeline

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in Plains All American Pipeline by 107.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 657 shares during the period. National Bank of Canada FI purchased a new stake in shares of Plains All American Pipeline in the fourth quarter valued at about $27,000. Blue Trust Inc. raised its holdings in shares of Plains All American Pipeline by 76.1% in the second quarter. Blue Trust Inc. now owns 1,761 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 761 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Plains All American Pipeline in the second quarter valued at about $40,000. Finally, Atwood & Palmer Inc. purchased a new stake in Plains All American Pipeline during the second quarter worth about $42,000. 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.