Plains All American Pipeline (NYSE:PAA) Price Target Lowered to $19.00 at Scotiabank

Plains All American Pipeline (NYSE:PAA - Free Report) had its price target reduced by Scotiabank from $20.00 to $19.00 in a report issued on Thursday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the pipeline company's stock.

PAA has been the topic of several other research reports. Barclays restated an "underweight" rating and issued a $18.00 price target on shares of Plains All American Pipeline in a research report on Friday, May 9th. Morgan Stanley reissued an "equal weight" rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. UBS Group reaffirmed a "buy" rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Wall Street Zen raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, Raymond James reaffirmed a "strong-buy" rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.36.

Plains All American Pipeline Price Performance

PAA stock traded up $0.26 on Thursday, reaching $17.08. The company had a trading volume of 2,377,296 shares, compared to its average volume of 3,117,932. The company's fifty day moving average is $17.29 and its 200 day moving average is $18.41. 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 cap of $12.01 billion, a P/E ratio of 23.40 and a beta of 0.66. Plains All American Pipeline has a 1 year low of $15.58 and a 1 year high of $21.00.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). Plains All American Pipeline had a net margin of 1.54% and a return on equity of 11.69%. During the same period last year, the company earned $0.41 EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. On average, research 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a yield of 8.90%. Plains All American Pipeline's dividend payout ratio (DPR) is presently 163.44%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of large investors have recently modified their holdings of PAA. SG Americas Securities LLC purchased a new position in Plains All American Pipeline in the 4th quarter worth $273,000. Spire Wealth Management increased its position in shares of Plains All American Pipeline by 14.8% during the fourth quarter. Spire Wealth Management now owns 20,824 shares of the pipeline company's stock valued at $356,000 after buying an additional 2,691 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Plains All American Pipeline by 15.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 21,409 shares of the pipeline company's stock worth $366,000 after acquiring an additional 2,892 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Plains All American Pipeline by 3.4% during the fourth quarter. Apollon Wealth Management LLC now owns 48,217 shares of the pipeline company's stock worth $824,000 after acquiring an additional 1,607 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Plains All American Pipeline by 15.7% in the fourth quarter. Stephens Inc. AR now owns 110,735 shares of the pipeline company's stock worth $1,891,000 after buying an additional 15,049 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

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.