Plains All American Pipeline, L.P. (NYSE:PAA) Given Consensus Rating of “Buy” by Analysts

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have earned a consensus recommendation of “Buy” from the twenty-one brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $28.86.

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

Plains All American Pipeline stock traded up $0.09 during trading hours on Tuesday, reaching $24.60. 3,238,597 shares of the company’s stock traded hands, 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. Plains All American Pipeline has a fifty-two week low of $19.33 and a fifty-two week high of $27.70. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 13.09 and a beta of 1.00. The business’s 50 day moving average price is $23.98.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Tuesday, May 7th. The pipeline company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.77 billion. Plains All American Pipeline had a return on equity of 20.70% and a net margin of 8.51%. Plains All American Pipeline’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. On average, analysts forecast that Plains All American Pipeline will post 2.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend 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 76.60%.

In related news, insider Emg Investment, Llc sold 8,179,284 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PAA. Chickasaw Capital Management LLC grew its stake in shares of Plains All American Pipeline by 19.1% during the 2nd quarter. Chickasaw Capital Management LLC now owns 9,784,469 shares of the pipeline company’s stock worth $238,252,000 after acquiring an additional 1,572,459 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Plains All American Pipeline by 9.8% during the 1st quarter. CIBC Private Wealth Group LLC now owns 7,987,029 shares of the pipeline company’s stock worth $195,762,000 after acquiring an additional 712,077 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Plains All American Pipeline by 30.4% during the 1st quarter. Bank of Montreal Can now owns 7,168,945 shares of the pipeline company’s stock worth $175,711,000 after acquiring an additional 1,671,285 shares in the last quarter. Energy Income Partners LLC grew its stake in shares of Plains All American Pipeline by 17.9% during the 4th quarter. Energy Income Partners LLC now owns 6,104,086 shares of the pipeline company’s stock worth $122,326,000 after acquiring an additional 928,299 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC grew its stake in shares of Plains All American Pipeline by 5.7% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 3,604,656 shares of the pipeline company’s stock worth $88,350,000 after acquiring an additional 195,933 shares in the last quarter. 48.43% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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