Brokerages Set Plains All American Pipeline, L.P. (PAA) Target Price at $28.06

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been given an average recommendation of “Buy” by the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $28.06.

Several analysts recently commented on PAA shares. Stifel Nicolaus raised their target price on Plains All American Pipeline from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Wednesday, August 8th. TheStreet cut Plains All American Pipeline from a “b-” rating to a “c+” rating in a research report on Wednesday, August 8th. ValuEngine upgraded Plains All American Pipeline from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Zacks Investment Research cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, SunTrust Banks restated a “buy” rating and issued a $29.00 target price on shares of Plains All American Pipeline in a research report on Thursday, August 9th.

Several institutional investors have recently modified their holdings of PAA. Global X Management Co LLC boosted its position in Plains All American Pipeline by 38.5% during the second quarter. Global X Management Co LLC now owns 2,932,898 shares of the pipeline company’s stock valued at $69,334,000 after purchasing an additional 816,014 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its position in shares of Plains All American Pipeline by 10.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,238,600 shares of the pipeline company’s stock worth $55,987,000 after buying an additional 218,100 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Plains All American Pipeline by 5.8% in the second quarter. Alps Advisors Inc. now owns 35,094,693 shares of the pipeline company’s stock worth $829,639,000 after buying an additional 1,910,142 shares during the last quarter. Kalos Management Inc. acquired a new stake in shares of Plains All American Pipeline in the second quarter worth about $991,000. Finally, Commerce Bank lifted its position in shares of Plains All American Pipeline by 21.8% in the third quarter. Commerce Bank now owns 15,921 shares of the pipeline company’s stock worth $398,000 after buying an additional 2,847 shares during the last quarter. 48.30% of the stock is owned by institutional investors and hedge funds.

NYSE:PAA traded down $0.78 during trading hours on Monday, reaching $21.52. 187,095 shares of the stock were exchanged, compared to its average volume of 2,636,541. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 1.01. Plains All American Pipeline has a 52 week low of $19.00 and a 52 week high of $27.70. The company has a market cap of $16.20 billion, a PE ratio of 22.78, a P/E/G ratio of 1.47 and a beta of 0.93.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $7.82 billion. Plains All American Pipeline had a return on equity of 14.72% and a net margin of 3.92%. The business’s revenue was up 49.7% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. As a group, sell-side analysts expect that Plains All American Pipeline will post 1.94 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st were given a $0.30 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.58%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.66%.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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