Brokerages Set Plains All American Pipeline, L.P. (NYSE:PAA) Target Price at $20.50

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been assigned an average recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.36.

PAA has been the topic of a number of research analyst reports. Scotiabank lowered their price target on Plains All American Pipeline from $23.00 to $22.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Morgan Stanley upped their target price on shares of Plains All American Pipeline from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 25th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Friday, January 10th. Raymond James increased their price objective on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Barclays reduced their target price on Plains All American Pipeline from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th.

Plains All American Pipeline Price Performance

Shares of Plains All American Pipeline stock opened at $17.74 on Tuesday. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of 24.30 and a beta of 1.17. 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 stock’s 50-day simple moving average is $19.18 and its 200-day simple moving average is $18.44. Plains All American Pipeline has a 52 week low of $15.58 and a 52 week high of $21.00.

Plains All American Pipeline Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 8.57%. The ex-dividend date is Thursday, May 1st. Plains All American Pipeline’s payout ratio is currently 208.22%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Plains All American Pipeline by 58.9% in the third quarter. JPMorgan Chase & Co. now owns 7,221,571 shares of the pipeline company’s stock valued at $125,439,000 after buying an additional 2,677,951 shares during the last quarter. ING Groep NV raised its stake in shares of Plains All American Pipeline by 194.5% in the 4th quarter. ING Groep NV now owns 3,892,637 shares of the pipeline company’s stock valued at $66,486,000 after acquiring an additional 2,570,700 shares during the period. Barclays PLC lifted its holdings in shares of Plains All American Pipeline by 110.4% in the 4th quarter. Barclays PLC now owns 4,226,335 shares of the pipeline company’s stock worth $72,186,000 after acquiring an additional 2,218,014 shares during the last quarter. Invesco Ltd. boosted its position in shares of Plains All American Pipeline by 4.6% during the 4th quarter. Invesco Ltd. now owns 27,827,930 shares of the pipeline company’s stock worth $475,301,000 after purchasing an additional 1,224,381 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Plains All American Pipeline by 8.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock valued at $261,283,000 after purchasing an additional 1,211,286 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

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.