Weekly Research Analysts’ Ratings Updates for Plains All American Pipeline (PAA)

A number of firms have modified their ratings and price targets on shares of Plains All American Pipeline (NYSE: PAA) recently:

• 5/2/2024 – Plains All American Pipeline was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 4/24/2024 – Plains All American Pipeline was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 4/16/2024 – Plains All American Pipeline was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 4/16/2024 – Plains All American Pipeline had its price target raised by analysts at Stifel Nicolaus from $18.00 to $22.00. They now have a “buy” rating on the stock.
• 4/12/2024 – Plains All American Pipeline had its price target raised by analysts at The Goldman Sachs Group, Inc. from $14.50 to $16.00. They now have a “sell” rating on the stock.
• 4/12/2024 – Plains All American Pipeline had its price target raised by analysts at UBS Group AG from $21.00 to $22.00. They now have a “buy” rating on the stock.
• 4/8/2024 – Plains All American Pipeline is now covered by analysts at Scotiabank. They set a “sector outperform” rating and a $23.00 price target on the stock.
• 3/22/2024 – Plains All American Pipeline was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 3/19/2024 – Plains All American Pipeline had its price target raised by analysts at Truist Financial Co. from $21.00 to $23.00. They now have a “buy” rating on the stock.

Plains All American Pipeline Price Performance

PAA opened at $16.93 on Thursday. The company has a fifty day simple moving average of $17.33 and a 200 day simple moving average of $16.12. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The stock has a market cap of $11.87 billion, a P/E ratio of 12.18 and a beta of 1.58. Plains All American Pipeline, L.P. has a 12 month low of $12.07 and a 12 month high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts expect that Plains All American Pipeline, L.P. will post 1.28 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.50%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is currently 91.37%.

Institutional Trading of Plains All American Pipeline

Several hedge funds and other institutional investors have recently modified their holdings of PAA. Clarus Group Inc. boosted its holdings in shares of Plains All American Pipeline by 1.0% in the 1st quarter. Clarus Group Inc. now owns 69,515 shares of the pipeline company’s stock valued at $1,221,000 after buying an additional 682 shares during the last quarter. Covenant Asset Management LLC lifted its stake in Plains All American Pipeline by 3.7% in the first quarter. Covenant Asset Management LLC now owns 22,036 shares of the pipeline company’s stock valued at $387,000 after acquiring an additional 795 shares during the last quarter. First National Trust Co grew its position in shares of Plains All American Pipeline by 10.1% in the 4th quarter. First National Trust Co now owns 11,277 shares of the pipeline company’s stock valued at $171,000 after acquiring an additional 1,038 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Plains All American Pipeline by 1.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 92,072 shares of the pipeline company’s stock worth $1,411,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC raised its holdings in shares of Plains All American Pipeline by 1.3% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 83,690 shares of the pipeline company’s stock valued at $1,268,000 after purchasing an additional 1,112 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.