Royal Bank of Canada Reiterates “Sector Perform” Rating for Plains All American Pipeline (NYSE:PAA)

Royal Bank of Canada reaffirmed their sector perform rating on shares of Plains All American Pipeline (NYSE:PAA) in a research report released on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $19.00 target price on the pipeline company’s stock.

Other equities research analysts have also issued reports about the stock. Bank of America initiated coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price objective on the stock. Morgan Stanley cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Stock Up 0.2 %

Plains All American Pipeline stock traded up $0.04 during midday trading on Friday, reaching $17.18. The company’s stock had a trading volume of 3,250,574 shares, compared to its average volume of 2,771,987. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.90. The stock has a market capitalization of $12.04 billion, a P/E ratio of 15.34 and a beta of 1.61. The stock’s 50-day simple moving average is $17.34 and its 200-day simple moving average is $17.53. Plains All American Pipeline has a 52-week low of $14.46 and a 52-week high of $19.17.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, November 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.31 by $0.06. The firm had revenue of $12.74 billion during the quarter, compared to analyst estimates of $13.09 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 11.63%. Plains All American Pipeline’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. On average, sell-side analysts expect that Plains All American Pipeline will post 1.29 EPS for the current year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.3175 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.39%. Plains All American Pipeline’s payout ratio is 113.39%.

Institutional Trading of Plains All American Pipeline

Institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $28,000. ORG Partners LLC increased its holdings in Plains All American Pipeline by 78.5% in the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 730 shares in the last quarter. Evermay Wealth Management LLC acquired a new position in Plains All American Pipeline during the first quarter worth $35,000. Sunbelt Securities Inc. lifted its holdings in Plains All American Pipeline by 53.2% during the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock valued at $68,000 after purchasing an additional 1,318 shares in the last quarter. Finally, American National Bank grew its position in shares of Plains All American Pipeline by 249.2% in the second quarter. American National Bank now owns 4,358 shares of the pipeline company’s stock valued at $78,000 after purchasing an additional 3,110 shares during the period. 41.78% of the stock is owned by institutional investors and hedge funds.

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.