Plains All American Pipeline, L.P. (NYSE:PAA) Receives Average Rating of “Buy” from Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has earned a consensus rating of “Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $26.73.

A number of research firms recently weighed in on PAA. Barclays reissued a “hold” rating and set a $24.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, October 16th. Raymond James dropped their price target on shares of Plains All American Pipeline from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 23rd. Bank of America lowered their target price on shares of Plains All American Pipeline from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus set a $25.00 target price on shares of Plains All American Pipeline and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Scotia Howard Weill began coverage on shares of Plains All American Pipeline in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $28.00 target price for the company.

PAA opened at $17.64 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.96 and a quick ratio of 0.87. The company has a market cap of $12.65 billion, a price-to-earnings ratio of 9.38 and a beta of 1.01. The firm has a 50 day simple moving average of $19.18 and a 200 day simple moving average of $22.15. Plains All American Pipeline has a fifty-two week low of $17.28 and a fifty-two week high of $25.27.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, November 5th. The pipeline company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.13. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $8.05 billion. Plains All American Pipeline had a net margin of 8.95% and a return on equity of 21.05%. Plains All American Pipeline’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. As a group, analysts expect that Plains All American Pipeline will post 2.41 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 8.16%. The ex-dividend date of this dividend was Wednesday, October 30th. Plains All American Pipeline’s payout ratio is presently 76.60%.

Large investors have recently modified their holdings of the business. Atwater Malick LLC bought a new stake in Plains All American Pipeline in the third quarter valued at approximately $25,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of Plains All American Pipeline in the third quarter valued at approximately $26,000. Paragon Capital Management LLC boosted its holdings in shares of Plains All American Pipeline by 136.0% in the second quarter. Paragon Capital Management LLC now owns 1,416 shares of the pipeline company’s stock valued at $34,000 after buying an additional 816 shares during the period. Lenox Wealth Advisors LLC acquired a new position in shares of Plains All American Pipeline in the third quarter valued at approximately $32,000. Finally, MCF Advisors LLC acquired a new position in shares of Plains All American Pipeline in the second quarter valued at approximately $40,000. 50.62% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

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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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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