Plains All American Pipeline, L.P. (NYSE:PAA) Receives Average Recommendation of “Buy” from Brokerages

Plains All American Pipeline, L.P. (NYSE:PAA) has been assigned an average recommendation of “Buy” from the twenty-one brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.86.

PAA has been the topic of a number of recent analyst reports. Piper Jaffray Companies decreased their price target on Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada restated an “equal weight” rating on shares of Lululemon Athletica in a research report on Friday, June 14th. Finally, Wolfe Research cut Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target on the stock. in a research report on Thursday, June 13th.

In related news, insider Emg Investment, Llc sold 8,179,284 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $23.10, for a total value of $188,941,460.40. The sale 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.

A number of institutional investors have recently added to or reduced their stakes in the business. Fort Sheridan Advisors LLC grew its position in Plains All American Pipeline by 0.8% in the first quarter. Fort Sheridan Advisors LLC now owns 60,505 shares of the pipeline company’s stock valued at $1,483,000 after acquiring an additional 500 shares during the last quarter. Avestar Capital LLC grew its position in Plains All American Pipeline by 12.0% in the first quarter. Avestar Capital LLC now owns 6,148 shares of the pipeline company’s stock valued at $149,000 after acquiring an additional 659 shares during the last quarter. Moors & Cabot Inc. grew its position in Plains All American Pipeline by 1.0% in the second quarter. Moors & Cabot Inc. now owns 65,912 shares of the pipeline company’s stock valued at $1,607,000 after acquiring an additional 674 shares during the last quarter. Belpointe Asset Management LLC grew its position in Plains All American Pipeline by 3.6% in the first quarter. Belpointe Asset Management LLC now owns 20,778 shares of the pipeline company’s stock valued at $510,000 after acquiring an additional 730 shares during the last quarter. Finally, Enterprise Financial Services Corp grew its position in Plains All American Pipeline by 71.5% in the first quarter. Enterprise Financial Services Corp now owns 2,039 shares of the pipeline company’s stock valued at $50,000 after acquiring an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 48.43% of the company’s stock.

PAA stock traded up $0.09 during trading hours on Tuesday, hitting $24.60. 3,238,597 shares of the stock were exchanged, compared to its average volume of 1,632,788. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.02 and a quick ratio of 0.90. The firm has a market cap of $17.88 billion, a price-to-earnings ratio of 13.09 and a beta of 1.00. The firm has a 50-day moving average price of $23.98. Plains All American Pipeline has a 12 month low of $19.33 and a 12 month high of $27.70.

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

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

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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