Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Rating of “Hold” by Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has received an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $20.23.

A number of analysts have recently commented on the company. Scotiabank dropped their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Morgan Stanley lifted their price objective on Plains All American Pipeline from $19.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Friday, January 10th. Finally, Raymond James boosted their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $20.09 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 company has a market cap of $14.14 billion, a price-to-earnings ratio of 27.52 and a beta of 1.62. Plains All American Pipeline has a 1 year low of $16.21 and a 1 year high of $21.00. The firm has a 50 day moving average price of $19.99 and a 200 day moving average price of $18.42.

Plains All American Pipeline Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.52 annualized dividend and a yield of 7.57%. This is a boost 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 Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock worth $125,439,000 after purchasing an additional 2,677,951 shares during the period. ING Groep NV raised its stake in Plains All American Pipeline by 194.5% during the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock worth $66,486,000 after acquiring an additional 2,570,700 shares during the period. Barclays PLC raised its stake in Plains All American Pipeline by 110.4% during the fourth quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company’s stock worth $72,186,000 after acquiring an additional 2,218,014 shares during the period. Invesco Ltd. lifted its holdings in Plains All American Pipeline by 4.6% in the fourth quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock worth $475,301,000 after acquiring an additional 1,224,381 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock valued at $261,283,000 after acquiring an additional 1,211,286 shares during the period. 41.78% of the stock is currently owned by institutional investors.

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.