Analysts Set Plains All American Pipeline, L.P. (NYSE:PAA) PT at $19.92

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have received an average rating of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $19.92.

Several analysts have recently issued reports on PAA shares. Wolfe Research upgraded shares of 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. Scotiabank decreased their target price on shares of Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $22.00 to $20.00 in a research report on Wednesday, December 18th. Barclays upped their target price on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Finally, Raymond James upped their target price on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 28th.

Plains All American Pipeline Stock Down 1.3 %

Shares of PAA stock opened at $19.97 on Friday. The stock has a market cap of $14.05 billion, a P/E ratio of 27.36 and a beta of 1.62. Plains All American Pipeline has a 52 week low of $16.21 and a 52 week high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The company’s fifty day simple moving average is $19.94 and its two-hundred day simple moving average is $18.35.

Plains All American Pipeline Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.38 dividend. This is an increase from Plains All American Pipeline’s previous quarterly dividend of $0.32. This represents a $1.52 dividend on an annualized basis and a yield of 7.61%. The ex-dividend date was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio is currently 208.22%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of hedge funds have recently added to or reduced their stakes in PAA. Thrivent Financial for Lutherans grew its stake in Plains All American Pipeline by 5.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 18,146 shares of the pipeline company’s stock worth $315,000 after acquiring an additional 887 shares in the last quarter. Avior Wealth Management LLC grew its stake in Plains All American Pipeline by 100.0% in the 3rd quarter. Avior Wealth Management LLC now owns 8,000 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 4,000 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in Plains All American Pipeline in the 3rd quarter worth about $186,000. Citigroup Inc. grew its stake in Plains All American Pipeline by 48.9% in the 3rd quarter. Citigroup Inc. now owns 3,428,897 shares of the pipeline company’s stock worth $59,560,000 after acquiring an additional 1,125,386 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Plains All American Pipeline by 970.6% in the 3rd quarter. Cerity Partners LLC now owns 179,847 shares of the pipeline company’s stock worth $3,124,000 after acquiring an additional 163,049 shares in the last quarter. 41.78% of the stock is currently owned by 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.