Plains All American Pipeline, L.P. (NYSE:PAA) Receives Consensus Recommendation of “Hold” from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has received a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.21.

A number of equities research analysts have weighed in on PAA shares. Raymond James upped their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Scotiabank restated a “sector outperform” rating and set a $23.00 price objective on shares of Plains All American Pipeline in a report on Friday, January 10th. Barclays boosted their price objective on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Wells Fargo & Company downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Friday, January 10th.

Hedge Funds Weigh In On Plains All American Pipeline

A number of large investors have recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB acquired a new position in Plains All American Pipeline in the third quarter worth approximately $27,000. Newbridge Financial Services Group Inc. acquired a new position in Plains All American Pipeline in the fourth quarter worth approximately $27,000. National Bank of Canada FI acquired a new position in Plains All American Pipeline in the fourth quarter worth approximately $27,000. Jones Financial Companies Lllp increased its holdings in Plains All American Pipeline by 1,684.0% in the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock worth $61,000 after buying an additional 3,368 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in Plains All American Pipeline in the fourth quarter worth approximately $97,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $20.34 on Monday. Plains All American Pipeline has a twelve month low of $16.21 and a twelve month high of $21.00. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $14.31 billion, a price-to-earnings ratio of 27.86 and a beta of 1.65. The firm has a 50-day moving average of $19.29 and a two-hundred day moving average of $18.13.

Plains All American Pipeline Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.38 dividend. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.47%. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

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.