Brokerages Set Plains All American Pipeline, L.P. (NYSE:PAA) Target Price at $19.82

Plains All American Pipeline, L.P. (NYSE:PAA - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.82.

A number of research analysts recently commented on the stock. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a "neutral" rating and a $18.00 price target on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $19.00 price objective on shares of Plains All American Pipeline in a research note on Friday. Finally, Morgan Stanley lowered Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $22.00 to $19.00 in a research note on Friday, October 25th.

Plains All American Pipeline Stock Up 0.2 %

Shares of NYSE:PAA traded up $0.04 during midday trading on Friday, reaching $17.18. The company had a trading volume of 3,250,574 shares, compared to its average volume of 2,771,987. Plains All American Pipeline has a 1-year low of $14.46 and a 1-year high of $19.17. The stock has a market cap of $12.04 billion, a PE ratio of 15.34 and a beta of 1.61. The company has a quick ratio of 0.90, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The business's 50 day moving average price is $17.34 and its 200 day moving average price is $17.53.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last issued its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. The company had revenue of $12.74 billion for the quarter, compared to analysts' expectations of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. Plains All American Pipeline's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. Research analysts forecast that Plains All American Pipeline will post 1.29 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date of this dividend was Thursday, October 31st. Plains All American Pipeline's dividend payout ratio is currently 113.39%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PAA. Blackstone Inc. grew its holdings in shares of Plains All American Pipeline by 1.4% during the first quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company's stock valued at $413,345,000 after buying an additional 318,944 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Plains All American Pipeline by 0.3% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company's stock valued at $336,734,000 after purchasing an additional 57,289 shares during the last quarter. Chickasaw Capital Management LLC increased its holdings in Plains All American Pipeline by 1.0% during the 3rd quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company's stock worth $71,913,000 after purchasing an additional 42,383 shares in the last quarter. Citigroup Inc. raised its stake in shares of Plains All American Pipeline by 48.9% in the third quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company's stock worth $59,560,000 after purchasing an additional 1,125,386 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its holdings in shares of Plains All American Pipeline by 2.0% in the second quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company's stock valued at $45,520,000 after purchasing an additional 48,799 shares in the last quarter. 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.