Plains All American Pipeline, L.P. (NYSE:PAA) Receives Consensus Recommendation of “Hold” from Analysts

Plains All American Pipeline, L.P. (NYSE:PAA) has received a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.23.

Several research firms have recently commented on PAA. 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 report on Wednesday, December 18th. Raymond James raised their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, January 10th. Barclays raised their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, Scotiabank decreased their price objective on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th.

Institutional Trading of Plains All American Pipeline

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Plains All American Pipeline by 58.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after purchasing an additional 2,677,951 shares in the last quarter. ING Groep NV lifted its stake in shares of Plains All American Pipeline by 194.5% during the fourth quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock valued at $66,486,000 after buying an additional 2,570,700 shares during the period. Barclays PLC grew its stake in Plains All American Pipeline by 110.4% in the 4th quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company’s stock worth $72,186,000 after acquiring an additional 2,218,014 shares during the period. Invesco Ltd. raised its holdings in Plains All American Pipeline by 4.6% in the 4th quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock valued at $475,301,000 after acquiring an additional 1,224,381 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Plains All American Pipeline by 8.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock worth $261,283,000 after purchasing an additional 1,211,286 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $20.09 on Friday. Plains All American Pipeline has a 52 week low of $16.21 and a 52 week high of $21.00. The company has a 50-day moving average price of $19.99 and a 200 day moving average price of $18.42. The company has a market cap of $14.14 billion, a P/E ratio of 27.52 and a beta of 1.62. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Increases Dividend

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

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.