Analysts 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 received an average rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.36.

A number of equities analysts recently commented on PAA shares. Raymond James lifted their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley lifted 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 note on Tuesday, March 25th. Wolfe Research raised 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 research report on Friday, January 10th. Barclays dropped their price objective on Plains All American Pipeline from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Thursday, April 10th. Finally, Scotiabank dropped 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 research note on Thursday, March 6th.

Plains All American Pipeline Stock Performance

NYSE PAA opened at $17.33 on Tuesday. The company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 23.74 and a beta of 1.17. Plains All American Pipeline has a twelve month low of $15.58 and a twelve month high of $21.00. The stock has a fifty day simple moving average of $19.10 and a 200 day simple moving average of $18.45. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 8.77%. The ex-dividend date of this dividend is Thursday, May 1st. Plains All American Pipeline’s payout ratio is presently 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. Farther Finance Advisors LLC lifted its position in shares of Plains All American Pipeline by 107.0% during the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 657 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Plains All American Pipeline in the 3rd quarter worth approximately $27,000. Newbridge Financial Services Group Inc. bought a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $27,000. National Bank of Canada FI bought a new position in shares of Plains All American Pipeline in the fourth quarter valued at approximately $27,000. Finally, Jones Financial Companies Lllp increased its position in shares of Plains All American Pipeline by 1,684.0% during the fourth quarter. Jones Financial Companies Lllp now owns 3,568 shares of the pipeline company’s stock valued at $61,000 after acquiring an additional 3,368 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.