Raymond James Forecasts Strong Price Appreciation for Plains All American Pipeline (NYSE:PAA) Stock

Plains All American Pipeline (NYSE:PAA - Free Report) had its target price increased by Raymond James from $23.00 to $24.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a strong-buy rating on the pipeline company's stock.

A number of other analysts also recently issued reports on the company. Bank of America initiated coverage on Plains All American Pipeline in a research report on Thursday, October 17th. They issued a "neutral" rating and a $18.00 target price for the company. Royal Bank of Canada restated 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. Scotiabank reissued a "sector outperform" rating and issued a $23.00 price target on shares of Plains All American Pipeline in a 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 cut their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Finally, Barclays raised their price target on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an "underweight" rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.21.

Plains All American Pipeline Stock Down 3.8 %

Plains All American Pipeline stock traded down $0.78 during trading on Tuesday, hitting $19.80. 7,493,101 shares of the company were exchanged, compared to its average volume of 4,897,371. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64. The business's 50 day moving average is $18.39 and its 200 day moving average is $17.86. Plains All American Pipeline has a 52 week low of $15.02 and a 52 week high of $21.00. The company has a market capitalization of $13.93 billion, a P/E ratio of 17.68 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. The company had revenue of $12.74 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. Analysts predict that Plains All American Pipeline will post 1.17 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 7.68%. This is a positive change from Plains All American Pipeline's previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. Plains All American Pipeline's dividend payout ratio (DPR) is presently 113.39%.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Axiom Advisory LLC lifted its stake in shares of Plains All American Pipeline by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 15,300 shares of the pipeline company's stock worth $274,000 after purchasing an additional 750 shares during the last quarter. Eclectic Associates Inc. ADV raised its holdings in Plains All American Pipeline by 7.6% in the fourth quarter. Eclectic Associates Inc. ADV now owns 12,100 shares of the pipeline company's stock worth $207,000 after purchasing an additional 854 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Plains All American Pipeline by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company's stock valued at $109,000 after purchasing an additional 856 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Plains All American Pipeline by 5.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 17,195 shares of the pipeline company's stock worth $294,000 after purchasing an additional 885 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Plains All American Pipeline by 5.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company's stock valued at $315,000 after buying an additional 887 shares in the last quarter. 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.