Plains All American Pipeline (PAA) Given a $30.00 Price Target at Morgan Stanley

Morgan Stanley set a $30.00 price target on Plains All American Pipeline (NYSE:PAA) in a research note issued to investors on Wednesday. The brokerage currently has a buy rating on the pipeline company’s stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus upped their price objective on Plains All American Pipeline from $24.00 to $26.00 and gave the stock a hold rating in a research report on Wednesday, August 8th. Zacks Investment Research lowered Plains All American Pipeline from a buy rating to a hold rating in a research report on Wednesday, October 24th. TheStreet lowered Plains All American Pipeline from a b- rating to a c+ rating in a research report on Wednesday, August 8th. ValuEngine raised Plains All American Pipeline from a sell rating to a hold rating in a research report on Wednesday, August 8th. Finally, SunTrust Banks reaffirmed a buy rating and set a $29.00 price objective on shares of Plains All American Pipeline in a research report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $27.88.

NYSE PAA traded down $0.49 on Wednesday, reaching $23.01. The stock had a trading volume of 2,036,275 shares, compared to its average volume of 2,414,837. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.81 and a beta of 0.91. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. Plains All American Pipeline has a 12-month low of $18.38 and a 12-month high of $27.70.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Plains All American Pipeline had a return on equity of 14.90% and a net margin of 3.92%. The company had revenue of $8.79 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm’s quarterly revenue was up 49.7% compared to the same quarter last year. Analysts anticipate that Plains All American Pipeline will post 1.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.22%. Plains All American Pipeline’s payout ratio is currently 127.66%.

In related news, VP Chris Herbold sold 10,591 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total transaction of $279,072.85. Following the completion of the transaction, the vice president now owns 34,227 shares in the company, valued at $901,881.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Centaurus Financial Inc. acquired a new position in shares of Plains All American Pipeline during the second quarter worth $109,000. Pathstone Family Office LLC acquired a new position in shares of Plains All American Pipeline during the third quarter worth $131,000. Exane Derivatives grew its stake in shares of Plains All American Pipeline by 14,250.0% during the third quarter. Exane Derivatives now owns 5,740 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 5,700 shares in the last quarter. Stuart Chaussee & Associates Inc. acquired a new position in shares of Plains All American Pipeline during the second quarter worth $162,000. Finally, United Asset Strategies Inc. acquired a new position in shares of Plains All American Pipeline during the third quarter worth $200,000. Hedge funds and other institutional investors own 45.90% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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