Scotiabank Has Lowered Expectations for Plains All American Pipeline (NYSE:PAA) Stock Price

Plains All American Pipeline (NYSE:PAA) had its price objective reduced by Scotiabank from $20.00 to $19.00 in a research report sent to investors on Thursday,Benzinga reports. Scotiabank currently has a sector outperform rating on the pipeline company’s stock.

Other equities research analysts also recently issued reports about the stock. Raymond James reaffirmed a “strong-buy” rating on shares of Plains All American Pipeline in a research note on Friday, May 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $20.00 price target on shares of Plains All American Pipeline in a research note on Friday, May 16th. UBS Group reiterated a “buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. Wall Street Zen upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.36.

Plains All American Pipeline Price Performance

Shares of NYSE PAA opened at $17.08 on Thursday. Plains All American Pipeline has a twelve month low of $15.58 and a twelve month high of $21.00. The firm has a fifty day simple moving average of $17.24 and a 200 day simple moving average of $18.41. The company has a market capitalization of $12.01 billion, a PE ratio of 23.40 and a beta of 0.66. 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 (NYSE:PAA) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. During the same quarter in the prior year, the company posted $0.41 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that Plains All American Pipeline will post 1.52 EPS for the current year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date of this dividend was Thursday, May 1st. Plains All American Pipeline’s payout ratio is 163.44%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in Plains All American Pipeline by 107.0% in the first quarter. Farther Finance Advisors LLC now owns 1,271 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 657 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Plains All American Pipeline in the fourth quarter valued at approximately $27,000. National Bank of Canada FI bought a new stake in shares of Plains All American Pipeline in the fourth quarter valued at approximately $27,000. North Capital Inc. bought a new stake in shares of Plains All American Pipeline in the first quarter valued at approximately $61,000. Finally, Creative Financial Designs Inc. ADV bought a new stake in shares of Plains All American Pipeline in the first quarter valued at approximately $68,000. 41.78% of the stock is currently 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.