Piper Jaffray Companies Begins Coverage on Plains All American Pipeline (NYSE:PAA)

Piper Jaffray Companies initiated coverage on shares of Plains All American Pipeline (NYSE:PAA) in a research report released on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $31.00 price objective on the pipeline company’s stock. Piper Jaffray Companies also issued estimates for Plains All American Pipeline’s Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $2.13 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.52 EPS, Q4 2020 earnings at $0.51 EPS, FY2020 earnings at $2.03 EPS and FY2021 earnings at $2.11 EPS.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed an equal weight rating on shares of Lululemon Athletica in a report on Friday, June 14th. Wolfe Research cut shares of Enbridge from an outperform rating to a peer perform rating and set a $37.00 target price on the stock. in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $28.73.

NYSE PAA opened at $24.60 on Wednesday. The company has a 50 day simple moving average of $23.98. The company has a current ratio of 1.02, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91. Plains All American Pipeline has a one year low of $19.33 and a one year high of $27.70. The stock has a market capitalization of $17.88 billion, a price-to-earnings ratio of 13.09 and a beta of 1.00.

Plains All American Pipeline (NYSE:PAA) last issued its earnings results on Tuesday, May 7th. The pipeline company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.10. The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.77 billion. Plains All American Pipeline had a net margin of 8.51% and a return on equity of 20.70%. The firm’s revenue was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. As a group, analysts forecast that Plains All American Pipeline will post 2.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, July 30th. This represents a $1.44 dividend on an annualized basis and a yield of 5.85%. Plains All American Pipeline’s payout ratio is currently 76.60%.

In other Plains All American Pipeline news, insider Emg Investment, Llc sold 8,179,284 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $23.10, for a total transaction of $188,941,460.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Executive Wealth Management LLC acquired a new position in shares of Plains All American Pipeline in the 4th quarter valued at $28,000. Belvedere Advisors LLC acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at $30,000. Zions Bancorporation N.A. acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at $48,000. Enterprise Financial Services Corp grew its position in Plains All American Pipeline by 71.5% in the 1st quarter. Enterprise Financial Services Corp now owns 2,039 shares of the pipeline company’s stock valued at $50,000 after buying an additional 850 shares during the last quarter. Finally, Interactive Financial Advisors purchased a new position in Plains All American Pipeline in the 1st quarter valued at $62,000. 48.43% of the stock is currently 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 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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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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