Plains All American Pipeline, L.P. (NYSE:PAA) Receives $19.82 Consensus Target Price from Brokerages

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

Several analysts have recently issued reports on PAA shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $19.00 target price on shares of Plains All American Pipeline in a research note on Friday, November 15th. Morgan Stanley downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Friday, October 25th. Finally, Bank of America started coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a "neutral" rating and a $18.00 target price on the stock.

Institutional Investors Weigh In On Plains All American Pipeline

Large investors have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its stake in shares of Plains All American Pipeline by 0.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 18,854,069 shares of the pipeline company's stock worth $336,734,000 after purchasing an additional 57,289 shares in the last quarter. Chickasaw Capital Management LLC grew its stake in Plains All American Pipeline by 1.0% in the 3rd quarter. Chickasaw Capital Management LLC now owns 4,140,089 shares of the pipeline company's stock valued at $71,913,000 after buying an additional 42,383 shares in the last quarter. Citigroup Inc. raised its holdings in Plains All American Pipeline by 48.9% during the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company's stock valued at $59,560,000 after acquiring an additional 1,125,386 shares during the period. Miller Howard Investments Inc. NY lifted its position in shares of Plains All American Pipeline by 2.0% during the second quarter. Miller Howard Investments Inc. NY now owns 2,548,723 shares of the pipeline company's stock worth $45,520,000 after acquiring an additional 48,799 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Plains All American Pipeline by 1.6% in the third quarter. Barclays PLC now owns 2,008,321 shares of the pipeline company's stock worth $34,885,000 after acquiring an additional 32,061 shares during the period. Hedge funds and other institutional investors own 41.78% of the company's stock.

Plains All American Pipeline Stock Up 1.5 %

NYSE PAA traded up $0.26 during trading hours on Wednesday, hitting $17.89. The company's stock had a trading volume of 3,142,880 shares, compared to its average volume of 2,795,356. The company has a market capitalization of $12.59 billion, a PE ratio of 15.99 and a beta of 1.64. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 52 week low of $14.46 and a 52 week high of $19.17. The company's 50-day simple moving average is $17.46 and its two-hundred day simple moving average is $17.60.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share 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 analyst estimates of $13.09 billion. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The company's revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. Research analysts anticipate that Plains All American Pipeline will post 1.24 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.3175 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.10%. Plains All American Pipeline's dividend payout ratio is presently 113.39%.

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.