Scotiabank Reaffirms Sector Outperform Rating for Plains All American Pipeline (NYSE:PAA)

Scotiabank reaffirmed their sector outperform rating on shares of Plains All American Pipeline (NYSE:PAA - Free Report) in a report issued on Friday, MarketBeat.com reports. The firm currently has a $23.00 price objective on the pipeline company's stock.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $19.00 price objective on shares of Plains All American Pipeline in a report on Friday, November 15th. Bank of America assumed coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They issued a "neutral" rating and a $18.00 price target on the stock. Morgan Stanley downgraded shares of Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Friday, October 25th. Wolfe Research upgraded Plains All American Pipeline from a "peer perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a research report on Friday. Finally, Wells Fargo & Company cut Plains All American Pipeline from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has an average rating of "Hold" and a consensus target price of $20.00.

Plains All American Pipeline Stock Up 0.8 %

Shares of PAA stock traded up $0.15 on Friday, hitting $18.88. The stock had a trading volume of 5,323,029 shares, compared to its average volume of 5,182,820. Plains All American Pipeline has a 12-month low of $15.02 and a 12-month high of $19.31. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 16.86 and a beta of 1.64. The business has a 50 day moving average of $17.58 and a 200 day moving average of $17.68. 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 (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. The firm 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%. The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. As a group, analysts expect that Plains All American Pipeline will post 1.24 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 8.05%. This is a boost from Plains All American Pipeline's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. Plains All American Pipeline's dividend payout ratio is 135.71%.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new position in Plains All American Pipeline during the third quarter valued at approximately $27,000. Future Financial Wealth Managment LLC bought a new position in shares of Plains All American Pipeline during the third quarter valued at about $28,000. Sunbelt Securities Inc. increased its holdings in shares of Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company's stock worth $68,000 after buying an additional 1,318 shares during the period. Brown Brothers Harriman & Co. increased its holdings in shares of Plains All American Pipeline by 31.2% in the second quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company's stock worth $80,000 after buying an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company's stock valued at $109,000 after acquiring an additional 856 shares during the last quarter. Hedge funds and other 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.