Plains All American Pipeline (PAA) Now Covered by Analysts at Mizuho

Mizuho started coverage on shares of Plains All American Pipeline (NYSE:PAA) in a research note released on Wednesday morning, The Fly reports. The firm issued a buy rating and a $30.00 price objective on the pipeline company’s stock.

Other analysts have also issued reports about the stock. TheStreet upgraded shares of Plains All American Pipeline from a c+ rating to a b- rating in a report on Wednesday, November 7th. Zacks Investment Research upgraded shares of Plains All American Pipeline from a hold rating to a buy rating and set a $27.00 target price for the company in a report on Monday, October 1st. Stifel Nicolaus upgraded shares of Plains All American Pipeline from a hold rating to a buy rating and increased their target price for the stock from $26.00 to $28.00 in a report on Sunday, September 23rd. Morgan Stanley set a $28.00 target price on shares of Plains All American Pipeline and gave the stock a buy rating in a report on Friday, September 14th. Finally, Johnson Rice started coverage on shares of Plains All American Pipeline in a report on Thursday, September 13th. They set a buy rating and a $31.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. Plains All American Pipeline has a consensus rating of Buy and an average price target of $27.83.

NYSE PAA opened at $23.03 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.89 and a debt-to-equity ratio of 1.01. Plains All American Pipeline has a 12-month low of $18.38 and a 12-month high of $27.70. The stock has a market cap of $16.73 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.72%. The business had revenue of $8.79 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue was up 49.7% on a year-over-year basis. Sell-side analysts predict that Plains All American Pipeline will post 1.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, October 31st were issued a $0.30 dividend. The ex-dividend date was Tuesday, October 30th. This represents a $1.20 annualized dividend and a yield of 5.21%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.66%.

Institutional investors and hedge funds have recently modified their holdings of the business. Global X Management Co LLC lifted its holdings in Plains All American Pipeline by 38.5% in the second quarter. Global X Management Co LLC now owns 2,932,898 shares of the pipeline company’s stock worth $69,334,000 after buying an additional 816,014 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in Plains All American Pipeline by 10.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,238,600 shares of the pipeline company’s stock worth $55,987,000 after buying an additional 218,100 shares during the period. Alps Advisors Inc. lifted its holdings in Plains All American Pipeline by 5.8% in the second quarter. Alps Advisors Inc. now owns 35,094,693 shares of the pipeline company’s stock worth $829,639,000 after buying an additional 1,910,142 shares during the period. Kalos Management Inc. purchased a new stake in Plains All American Pipeline in the second quarter worth about $991,000. Finally, Green Square Capital LLC lifted its holdings in Plains All American Pipeline by 1.0% in the second quarter. Green Square Capital LLC now owns 217,384 shares of the pipeline company’s stock worth $5,139,000 after buying an additional 2,105 shares during the period. Institutional investors and hedge funds own 47.15% of the company’s stock.

About Plains All American Pipeline

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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The Fly

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

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