Plains All American Pipeline (NYSE:PAA) Lowered to “C+” at TheStreet

TheStreet downgraded shares of Plains All American Pipeline (NYSE:PAA) from a b- rating to a c+ rating in a research report report published on Tuesday, TheStreetRatingsTable reports.

A number of other equities analysts have also weighed in on the stock. ValuEngine upgraded shares of Plains All American Pipeline from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on shares of Plains All American Pipeline to $27.00 and set a sector perform rating for the company in a research report on Friday, June 14th. Scotiabank started coverage on shares of Plains All American Pipeline in a research report on Tuesday, September 3rd. They issued an outperform rating and a $28.00 price target for the company. Piper Jaffray Companies started coverage on shares of Plains All American Pipeline in a research report on Wednesday, July 17th. They issued an overweight rating and a $31.00 price target for the company. Finally, Stifel Nicolaus set a $25.00 price target on shares of Plains All American Pipeline and gave the stock a buy rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $27.73.

Shares of PAA stock opened at $19.25 on Tuesday. Plains All American Pipeline has a 12 month low of $19.08 and a 12 month high of $25.42. The stock has a market cap of $14.42 billion, a P/E ratio of 10.24 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The company has a 50 day simple moving average of $21.15 and a two-hundred day simple moving average of $23.17.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Tuesday, August 6th. The pipeline company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.23. Plains All American Pipeline had a net margin of 9.48% and a return on equity of 21.81%. The business had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Plains All American Pipeline will post 2.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.36 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.48%. Plains All American Pipeline’s payout ratio is currently 76.60%.

In other Plains All American Pipeline news, VP Chris Herbold sold 23,337 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.38, for a total value of $498,945.06. Following the completion of the transaction, the vice president now directly owns 79,564 shares in the company, valued at $1,701,078.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Belvedere Advisors LLC bought a new position in shares of Plains All American Pipeline during the first quarter worth $30,000. Lenox Wealth Advisors LLC bought a new position in shares of Plains All American Pipeline during the third quarter worth $32,000. Paragon Capital Management LLC boosted its position in shares of Plains All American Pipeline by 136.0% during the second quarter. Paragon Capital Management LLC now owns 1,416 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 816 shares during the last quarter. North Star Investment Management Corp. bought a new position in shares of Plains All American Pipeline during the third quarter worth $37,000. Finally, MCF Advisors LLC bought a new position in shares of Plains All American Pipeline during the second quarter worth $40,000. Hedge funds and other institutional investors own 50.41% 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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