Plains All American Pipeline (NYSE:PAA) Stock Price Expected to Rise, Barclays Analyst Says

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

Other equities research analysts have also issued reports about the stock. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Scotiabank reiterated a “sector outperform” rating and issued a $23.00 price objective on shares of Plains All American Pipeline in a research report on Friday, January 10th. Bank of America started coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a “neutral” rating and a $18.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a research report on Friday, November 15th. Finally, Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus target price of $19.92.

Plains All American Pipeline Price Performance

Shares of PAA opened at $20.06 on Thursday. Plains All American Pipeline has a 1-year low of $15.02 and a 1-year high of $20.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market capitalization of $14.12 billion, a PE ratio of 17.91 and a beta of 1.64. The company’s fifty day moving average price is $17.81 and its 200-day moving average price is $17.74.

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 the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company had revenue of $12.74 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that Plains All American Pipeline will post 1.56 EPS for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be 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 is Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a yield of 7.58%. Plains All American Pipeline’s dividend payout ratio is presently 135.71%.

Institutional Trading of Plains All American Pipeline

Hedge funds have recently bought and sold shares of the business. Stifel Financial Corp raised its holdings in Plains All American Pipeline by 30.6% in the 3rd quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after acquiring an additional 54,111 shares during the last quarter. FMR LLC increased its holdings in shares of Plains All American Pipeline by 91.1% during the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock worth $10,427,000 after buying an additional 286,222 shares during the last quarter. Syntax Research Inc. purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at approximately $1,742,000. International Assets Investment Management LLC raised its position in shares of Plains All American Pipeline by 1,006.4% during the 3rd quarter. International Assets Investment Management LLC now owns 67,038 shares of the pipeline company’s stock valued at $1,164,000 after buying an additional 60,979 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Plains All American Pipeline by 58.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after buying an additional 2,677,951 shares during the period. Institutional investors and hedge funds 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.