Plains All American Pipeline (NASDAQ:PAA) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Plains All American Pipeline (NASDAQ:PAA) from a hold rating to a buy rating in a research report released on Saturday.

Several other research firms have also commented on PAA. Citigroup upped their price target on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Mizuho raised their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Wells Fargo & Company boosted their target price on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Zacks Research raised shares of Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, US Capital Advisors downgraded shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Plains All American Pipeline has a consensus rating of “Hold” and an average target price of $23.23.

Plains All American Pipeline Price Performance

NASDAQ PAA opened at $23.90 on Friday. The business’s fifty day moving average price is $23.05 and its 200-day moving average price is $22.09. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 8.27 and a beta of 0.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.88. Plains All American Pipeline has a 1-year low of $15.69 and a 1-year high of $25.03.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.09). The firm had revenue of $17.69 billion during the quarter. Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.Plains All American Pipeline’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities analysts predict that Plains All American Pipeline will post 1.77 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date was Friday, July 31st. Plains All American Pipeline’s dividend payout ratio is presently 46.26%.

Institutional Trading of Plains All American Pipeline

Institutional investors and hedge funds have recently modified their holdings of the company. Americana Partners LLC boosted its stake in Plains All American Pipeline by 110.9% in the 4th quarter. Americana Partners LLC now owns 578,541 shares of the company’s stock worth $10,391,000 after purchasing an additional 304,247 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Plains All American Pipeline by 17.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock worth $360,097,000 after acquiring an additional 3,033,216 shares during the last quarter. Longfellow Investment Management Co. LLC grew its stake in Plains All American Pipeline by 21.5% during the fourth quarter. Longfellow Investment Management Co. LLC now owns 1,594,440 shares of the company’s stock valued at $28,636,000 after acquiring an additional 281,609 shares in the last quarter. GraniteShares Advisors LLC purchased a new position in Plains All American Pipeline during the fourth quarter valued at $2,717,000. Finally, Manning & Napier Advisors LLC increased its holdings in Plains All American Pipeline by 33.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 200,000 shares of the company’s stock valued at $4,466,000 after acquiring an additional 50,000 shares during the last quarter. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.