Plains All American Pipeline (NYSE:PAA) Price Target Raised to $18.00 at TD Securities

Plains All American Pipeline (NYSE:PAA) had its price target raised by TD Securities from $17.00 to $18.00 in a report published on Monday, BayStreet.CA reports. They currently have a hold rating on the pipeline company’s stock.

PAA has been the topic of several other research reports. Citigroup boosted their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a report on Friday, March 1st. UBS Group boosted their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a report on Friday, April 12th. The Goldman Sachs Group boosted their target price on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a report on Friday, April 12th. Truist Financial boosted their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a report on Tuesday, March 19th. Finally, StockNews.com lowered shares of Plains All American Pipeline from a strong-buy rating to a buy rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $19.08.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $17.64 on Monday. The firm has a market cap of $12.37 billion, a PE ratio of 12.23 and a beta of 1.58. The firm’s fifty day moving average is $17.40 and its 200-day moving average is $16.16. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. Plains All American Pipeline has a 52 week low of $12.50 and a 52 week high of $19.03.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. Plains All American Pipeline’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. Sell-side analysts predict that Plains All American Pipeline will post 1.32 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. This represents a $1.27 annualized dividend and a dividend yield of 7.20%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is presently 109.48%.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in Plains All American Pipeline in the 1st quarter worth about $28,000. CENTRAL TRUST Co grew its position in Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 1,700 shares in the last quarter. Fortitude Family Office LLC bought a new stake in Plains All American Pipeline in the 4th quarter worth about $39,000. Scarborough Advisors LLC bought a new stake in Plains All American Pipeline in the 4th quarter worth about $46,000. Finally, Briaud Financial Planning Inc bought a new stake in Plains All American Pipeline in the 3rd quarter worth about $58,000. 41.78% of the stock is owned by institutional investors.

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.