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

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

Several other analysts also recently weighed in on PAA. UBS Group boosted their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a research note on Friday, April 12th. The Goldman Sachs Group increased their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a report on Friday, April 12th. StockNews.com cut Plains All American Pipeline from a strong-buy rating to a buy rating in a research note on Thursday, May 2nd. Citigroup increased their price objective on Plains All American Pipeline from $16.50 to $17.50 and gave the company a neutral rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus lifted their target price on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $19.15.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $17.66 on Monday. The firm has a market capitalization of $12.38 billion, a PE ratio of 15.22 and a beta of 1.58. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 12 month low of $12.50 and a 12 month high of $19.03. The business’s 50-day moving average price is $17.42 and its 200-day moving average price is $16.18.

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, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Sell-side analysts forecast that Plains All American Pipeline will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be issued a $0.3175 dividend. This represents a $1.27 annualized dividend and a yield of 7.19%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio is currently 109.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Advisors Inc. OK bought a new position in shares of Plains All American Pipeline during the 4th quarter valued at about $4,234,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after acquiring an additional 1,135,737 shares during the last quarter. ING Groep NV raised its position in Plains All American Pipeline by 12.2% during the third quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock valued at $46,628,000 after purchasing an additional 332,000 shares during the period. DAVENPORT & Co LLC purchased a new position in shares of Plains All American Pipeline in the 4th quarter worth approximately $182,000. Finally, Envestnet Asset Management Inc. raised its holdings in Plains All American Pipeline by 374.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock valued at $3,522,000 after buying an additional 181,484 shares during the period. 41.78% of the stock is owned by hedge funds and other institutional investors.

About Plains All American Pipeline

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.