Analysts Set Plains All American Pipeline, L.P. (NYSE:PAA) Target Price at $19.92

Plains All American Pipeline, L.P. (NYSE:PAA) has received a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $19.92.

PAA has been the topic of a number of recent research reports. Scotiabank dropped their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. Barclays increased their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Friday, January 10th. Finally, Raymond James increased their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th.

Plains All American Pipeline Price Performance

NYSE PAA opened at $19.97 on Friday. 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 firm’s 50 day moving average price is $19.94 and its 200-day moving average price is $18.35. Plains All American Pipeline has a 52-week low of $16.21 and a 52-week high of $21.00. The company has a market cap of $14.05 billion, a PE ratio of 27.36 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.38 dividend. 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 7.61%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. Plains All American Pipeline’s dividend payout ratio is presently 208.22%.

Institutional Trading of Plains All American Pipeline

A number of hedge funds and other institutional investors have recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline in the third quarter worth $27,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Plains All American Pipeline in the fourth quarter worth $27,000. National Bank of Canada FI acquired a new stake in shares of Plains All American Pipeline in the fourth quarter worth $27,000. Jones Financial Companies Lllp increased its stake in shares of 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 acquiring an additional 3,368 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Plains All American Pipeline in the fourth quarter worth $97,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.