Plains All American Pipeline (NYSE:PAA) Price Target Raised to $23.00

Plains All American Pipeline (NYSE:PAA) had its price objective increased by Morgan Stanley from $19.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the pipeline company’s stock.

A number of other research firms have also weighed in on PAA. Scotiabank cut their price objective on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Barclays upped their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, January 10th. Wells Fargo & Company lowered shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Raymond James increased their price objective on 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.23.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $20.09 on Tuesday. The business has a 50-day moving average of $19.99 and a 200 day moving average of $18.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. Plains All American Pipeline has a 12 month low of $16.21 and a 12 month high of $21.00. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 27.52 and a beta of 1.62.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 7.57%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is 208.22%.

Hedge Funds Weigh In On Plains All American Pipeline

Several large investors have recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB acquired a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at $27,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Plains All American Pipeline during the fourth quarter worth $27,000. National Bank of Canada FI purchased a new stake in shares of Plains All American Pipeline during the fourth quarter valued at $27,000. Jones Financial Companies Lllp boosted its position in shares of Plains All American Pipeline by 1,684.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after purchasing an additional 3,368 shares during the period. Finally, CoreFirst Bank & Trust purchased a new position in Plains All American Pipeline in the 4th quarter worth about $97,000. Institutional investors 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.