Plains All American Pipeline (NYSE:PAA) Price Target Raised to $19.00

Plains All American Pipeline (NYSE:PAA) had its target price upped by Barclays from $18.00 to $19.00 in a report released on Thursday morning,Benzinga reports. Barclays currently has an underweight rating on the pipeline company’s stock.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company cut Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Scotiabank restated a “sector outperform” rating and issued a $23.00 price target on shares of Plains All American Pipeline in a research note on Friday, January 10th. Morgan Stanley cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $22.00 to $19.00 in a research report on Friday, October 25th. Bank of America began coverage on shares of Plains All American Pipeline in a research report on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.92.

Plains All American Pipeline Trading Up 4.2 %

Shares of NYSE:PAA opened at $20.16 on Thursday. Plains All American Pipeline has a 12-month low of $15.02 and a 12-month high of $20.29. The company has a market cap of $14.19 billion, a PE ratio of 12.50 and a beta of 1.64. The stock has a 50 day moving average of $17.71 and a 200 day moving average of $17.71. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. The business 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%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. As a group, equities research analysts expect that Plains All American Pipeline will post 1.56 EPS for the current year.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.38 dividend. This is a boost from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, January 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 7.54%. Plains All American Pipeline’s payout ratio is 113.39%.

Institutional Trading of Plains All American Pipeline

A number of institutional investors have recently bought and sold shares of PAA. Wilmington Savings Fund Society FSB purchased a new stake in shares of Plains All American Pipeline in the third quarter valued at $27,000. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline during the 3rd quarter valued at about $28,000. Sunbelt Securities Inc. grew its holdings in Plains All American Pipeline by 53.2% during the 2nd 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 during the last quarter. Brown Brothers Harriman & Co. raised its position in Plains All American Pipeline by 31.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,460 shares of the pipeline company’s stock worth $80,000 after purchasing an additional 1,060 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Plains All American Pipeline by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 856 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

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.