Raymond James Issues Positive Forecast for Plains All American Pipeline (NYSE:PAA) Stock Price

Plains All American Pipeline (NYSE:PAA) had its price objective raised by Raymond James from $23.00 to $24.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a strong-buy rating on the pipeline company’s stock.

Other equities research analysts also recently issued reports about the company. Scotiabank reaffirmed a “sector outperform” rating and set a $23.00 price target on shares of Plains All American Pipeline in a report on Friday, January 10th. Morgan Stanley downgraded shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $22.00 to $19.00 in a report on Friday, October 25th. Bank of America began coverage on shares of Plains All American Pipeline in a report on Thursday, October 17th. They set a “neutral” rating and a $18.00 price target for the company. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $22.00 to $20.00 in a report on Wednesday, December 18th. Finally, Wolfe Research upgraded Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.21.

Plains All American Pipeline Trading Up 1.7 %

Shares of Plains All American Pipeline stock opened at $20.52 on Tuesday. The company’s fifty day moving average is $18.20 and its two-hundred day moving average is $17.80. Plains All American Pipeline has a 1 year low of $15.02 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.92 and a current ratio of 1.01. The company has a market capitalization of $14.44 billion, a P/E ratio of 18.32 and a beta of 1.64.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Friday, November 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.06. Plains All American Pipeline had a return on equity of 11.63% and a net margin of 2.08%. The firm had revenue of $12.74 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts forecast that Plains All American Pipeline will post 1.17 earnings per share for the current year.

Plains All American Pipeline Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.41%. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, January 31st. Plains All American Pipeline’s payout ratio is presently 113.39%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PAA. Wilmington Savings Fund Society FSB acquired a new stake in Plains All American Pipeline in the 3rd quarter valued at about $27,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Plains All American Pipeline in the fourth quarter valued at approximately $27,000. Future Financial Wealth Managment LLC purchased a new position in shares of Plains All American Pipeline during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. raised its position in shares of Plains All American Pipeline by 53.2% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Plains All American Pipeline by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,094 shares of the pipeline company’s stock valued at $109,000 after buying an additional 856 shares in the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.