Plains All American Pipeline (NYSE:PAA) Cut to “Buy” at StockNews.com

StockNews.com cut shares of Plains All American Pipeline (NYSE:PAA) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

Other equities analysts also recently issued research reports about the company. Citigroup upped their target price on Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a report on Friday, March 1st. The Goldman Sachs Group upped their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a report on Friday, April 12th. Stifel Nicolaus upped their target price on Plains All American Pipeline from $18.00 to $22.00 and gave the company a buy rating in a report on Tuesday. UBS Group upped their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a report on Friday, April 12th. Finally, Truist Financial upped their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $18.96.

Plains All American Pipeline Price Performance

PAA stock opened at $17.69 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03. The firm has a market capitalization of $12.40 billion, a PE ratio of 12.73 and a beta of 1.59. The firm has a 50-day moving average of $16.99 and a two-hundred day moving average of $15.93.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, analysts forecast that Plains All American Pipeline will post 1.26 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.3175 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a yield of 7.18%. Plains All American Pipeline’s dividend payout ratio is currently 91.37%.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new position in Plains All American Pipeline during the first quarter valued at approximately $28,000. Sunbelt Securities Inc. acquired a new position in Plains All American Pipeline during the first quarter valued at approximately $28,000. CENTRAL TRUST Co grew its holdings in Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 1,700 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Plains All American Pipeline during the fourth quarter valued at approximately $39,000. Finally, Clear Street Markets LLC acquired a new position in Plains All American Pipeline during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds 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.