Plains All American Pipeline, L.P. (NYSE:PAA) has received an average recommendation of “Hold” from the twenty-five analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.73.
A number of brokerages recently weighed in on PAA. Deutsche Bank began coverage on shares of Plains All American Pipeline in a report on Thursday, April 19th. They issued a “buy” rating and a $29.00 price target for the company. SunTrust Banks raised shares of Plains All American Pipeline from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, April 9th. Jefferies Financial Group lowered shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a report on Wednesday, April 25th. Morgan Stanley raised their price target on shares of Plains All American Pipeline from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, June 1st. Finally, ValuEngine lowered shares of Plains All American Pipeline from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th.
Shares of Plains All American Pipeline traded down $0.62, hitting $23.25, during mid-day trading on Friday, according to MarketBeat.com. 2,013,200 shares of the stock were exchanged, compared to its average volume of 2,979,782. The firm has a market cap of $17.07 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 2.01 and a beta of 0.73. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 1.03. Plains All American Pipeline has a twelve month low of $18.38 and a twelve month high of $26.95.
Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, May 8th. The pipeline company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $7.38 billion. Plains All American Pipeline had a net margin of 2.50% and a return on equity of 11.09%. The company’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. analysts forecast that Plains All American Pipeline will post 1.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 14th. Stockholders of record on Tuesday, July 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, July 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.16%. Plains All American Pipeline’s dividend payout ratio is 127.66%.
Several hedge funds and other institutional investors have recently made changes to their positions in PAA. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in Plains All American Pipeline during the 1st quarter worth about $108,000. FTB Advisors Inc. increased its stake in shares of Plains All American Pipeline by 97.8% during the 1st quarter. FTB Advisors Inc. now owns 5,695 shares of the pipeline company’s stock worth $125,000 after purchasing an additional 2,816 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Plains All American Pipeline during the 4th quarter worth about $158,000. American National Registered Investment Advisor Inc. acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth about $200,000. Finally, Denver Investment Advisors LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth about $207,000. 45.12% 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 transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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