Plains All American Pipeline (NYSE:PAA) Price Target Raised to $23.00

Plains All American Pipeline (NYSE:PAA) had its price target lifted by Morgan Stanley from $19.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the pipeline company’s stock.

A number of other research analysts have also weighed in on the company. Wolfe Research raised Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Friday, January 10th. Scotiabank lowered 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 research report on Thursday, March 6th. Raymond James upped their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays upped their price objective on Plains All American Pipeline from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of “Hold” and a consensus price target of $20.23.

Plains All American Pipeline Trading Down 1.4 %

Shares of Plains All American Pipeline stock opened at $20.09 on Tuesday. The stock has a fifty day moving average price of $19.99 and a 200-day moving average price of $18.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a market cap of $14.14 billion, a PE ratio of 27.52 and a beta of 1.62. Plains All American Pipeline has a 1 year low of $16.21 and a 1 year high of $21.00.

Plains All American Pipeline Increases Dividend

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

Institutional Inflows and Outflows

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

Plains All American Pipeline Company Profile

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.