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Plains All American Pipeline, L.P. (NYSE:PAA) Receives Consensus Rating of "Moderate Buy" From Brokerages

Defense World · Sep 8, 2022 02:33

Plains All American Pipeline, L.P. (NYSE:PAA – Get Rating) has been assigned a consensus rating of "Moderate Buy" from the nineteen brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $14.38.

A number of brokerages have recently issued reports on PAA. Stifel Nicolaus raised Plains All American Pipeline from a "hold" rating to a "buy" rating and boosted their price objective for the company from $14.00 to $16.00 in a research note on Sunday, August 14th. Credit Suisse Group raised Plains All American Pipeline from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $13.00 to $14.00 in a research note on Thursday, May 12th. Mizuho boosted their price objective on Plains All American Pipeline from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, August 8th. StockNews.com raised Plains All American Pipeline from a "hold" rating to a "buy" rating in a research note on Thursday, August 11th. Finally, TheStreet raised Plains All American Pipeline from a "c" rating to a "b-" rating in a research note on Thursday, August 4th.

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Plains All American Pipeline Trading Down 0.9 %

Shares of PAA stock opened at $11.56 on Thursday. The firm has a market capitalization of $8.15 billion, a P/E ratio of 14.10 and a beta of 1.73. Plains All American Pipeline has a twelve month low of $8.64 and a twelve month high of $12.57. The company has a quick ratio of 0.89, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The stock's fifty day simple moving average is $11.05 and its 200 day simple moving average is $10.89.

Plains All American Pipeline (NYSE:PAA – Get Rating) last announced its earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.50% and a net margin of 1.36%. During the same quarter in the prior year, the firm posted $0.23 EPS. As a group, sell-side analysts predict that Plains All American Pipeline will post 1.1 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a dividend of $0.2175 per share. This represents a $0.87 annualized dividend and a yield of 7.53%. The ex-dividend date of this dividend was Thursday, July 28th. Plains All American Pipeline's dividend payout ratio (DPR) is 106.10%.

Insider Buying and Selling at Plains All American Pipeline

In related news, Director Kevin S. Mccarthy bought 200,000 shares of the company's stock in a transaction on Thursday, June 23rd. The shares were purchased at an average price of $9.81 per share, for a total transaction of $1,962,000.00. Following the completion of the transaction, the director now directly owns 200,000 shares in the company, valued at approximately $1,962,000. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors and hedge funds have recently made changes to their positions in the business. City State Bank bought a new position in Plains All American Pipeline in the fourth quarter valued at $28,000. Farmers & Merchants Investments Inc. bought a new position in Plains All American Pipeline in the first quarter valued at $34,000. Confluence Wealth Services Inc. bought a new position in Plains All American Pipeline in the fourth quarter valued at $37,000. TCI Wealth Advisors Inc. bought a new position in Plains All American Pipeline in the first quarter valued at $39,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in Plains All American Pipeline in the first quarter valued at $49,000. Hedge funds and other institutional investors own 41.52% of the company's stock.

About Plains All American Pipeline

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Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.