Plains All American Pipeline (NYSE:PAA) Price Target Raised to $19.00

Plains All American Pipeline (NYSE:PAA) had its price target raised by Barclays from $18.00 to $19.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an underweight rating on the pipeline company’s stock.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Royal Bank of Canada restated a “sector perform” rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Morgan Stanley lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Scotiabank restated a “sector outperform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 10th. Finally, Bank of America started coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.92.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $20.06 on Thursday. 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 stock’s fifty day moving average is $17.81 and its 200 day moving average is $17.74. The stock has a market cap of $14.12 billion, a P/E ratio of 17.91 and a beta of 1.64. Plains All American Pipeline has a one year low of $15.02 and a one year high of $20.35.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.06. The business had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Sell-side analysts anticipate that Plains All American Pipeline will post 1.56 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 7.58%. The ex-dividend date is Friday, January 31st. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s payout ratio is currently 135.71%.

Institutional Trading of Plains All American Pipeline

Several institutional investors and hedge funds have recently modified their holdings of the stock. Axiom Advisory LLC raised its stake in shares of Plains All American Pipeline by 5.2% during the third quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 750 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after buying an additional 856 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Plains All American Pipeline by 5.1% in the third quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after buying an additional 887 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Plains All American Pipeline by 0.4% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 263,645 shares of the pipeline company’s stock worth $4,580,000 after buying an additional 1,047 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Plains All American Pipeline by 31.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after buying an additional 1,060 shares in the last quarter. 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.