Plains All American Pipeline (NYSE:PAA) Price Target Increased to $18.00 by Analysts at Royal Bank of Canada

Plains All American Pipeline (NYSE:PAA) had its price objective upped by Royal Bank of Canada from $17.00 to $18.00 in a report issued on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the pipeline company’s stock.

PAA has been the topic of several other reports. TD Securities raised their price target on Plains All American Pipeline from $17.00 to $18.00 and gave the company a hold rating in a research report on Monday, May 6th. Scotiabank began coverage on Plains All American Pipeline in a report on Monday, April 8th. They set a sector outperform rating and a $23.00 price target for the company. UBS Group upped their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a research note on Friday, April 12th. StockNews.com lowered shares of Plains All American Pipeline from a strong-buy rating to a buy rating in a research report on Thursday, May 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $19.23.

Plains All American Pipeline Trading Up 2.1 %

NYSE:PAA opened at $17.37 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.64. The company has a market cap of $12.18 billion, a PE ratio of 11.90 and a beta of 1.58. Plains All American Pipeline has a 52 week low of $12.85 and a 52 week high of $19.03. The business’s 50 day moving average is $17.55 and its two-hundred day moving average is $16.28.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.53% and a net margin of 2.08%. The company had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts predict that Plains All American Pipeline will post 1.32 EPS for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.3175 per share. The ex-dividend date was Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.31%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 109.48%.

Institutional Trading of Plains All American Pipeline

A number of large investors have recently bought and sold shares of PAA. Capital Advisors Inc. OK acquired a new stake in shares of Plains All American Pipeline during the fourth quarter worth approximately $4,234,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock worth $195,561,000 after purchasing an additional 1,135,737 shares during the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $182,000. Envestnet Asset Management Inc. raised its holdings in shares of Plains All American Pipeline by 374.7% in the third quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock valued at $3,522,000 after buying an additional 181,484 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Plains All American Pipeline by 21.5% during the 4th quarter. UMB Bank n.a. now owns 68,078 shares of the pipeline company’s stock worth $1,031,000 after buying an additional 12,046 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.