Plains All American Pipeline (NYSE:PAA) Downgraded by Wolfe Research to Peer Perform

Wolfe Research cut shares of Plains All American Pipeline (NYSE:PAAGet Rating) from an outperform rating to a peer perform rating in a research note published on Monday, MarketBeat.com reports.

PAA has been the topic of a number of other research reports. Barclays decreased their target price on shares of Plains All American Pipeline from $13.00 to $12.00 and set an equal weight rating on the stock in a research note on Wednesday, July 20th. Bank of America raised shares of Plains All American Pipeline from an underperform rating to a neutral rating and set a $12.00 target price on the stock in a research note on Tuesday, July 19th. StockNews.com cut shares of Plains All American Pipeline from a buy rating to a hold rating in a research note on Thursday, May 5th. UBS Group boosted their price objective on shares of Plains All American Pipeline from $16.00 to $17.00 and gave the stock a buy rating in a research note on Friday, July 8th. Finally, Mizuho boosted their price objective on shares of Plains All American Pipeline from $13.00 to $14.00 in a research note on Wednesday, May 11th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $14.05.

Plains All American Pipeline Stock Performance

Shares of NYSE:PAA opened at $10.97 on Monday. The company’s 50 day simple moving average is $10.62 and its 200 day simple moving average is $10.75. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 47.70 and a beta of 1.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.94 and a quick ratio of 0.88. Plains All American Pipeline has a 1 year low of $8.64 and a 1 year high of $12.10.

Plains All American Pipeline (NYSE:PAAGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06). The firm had revenue of $13.69 billion during the quarter, compared to the consensus estimate of $12.15 billion. Plains All American Pipeline had a net margin of 0.65% and a return on equity of 9.80%. The business’s revenue was up 63.4% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. As a group, research analysts predict that Plains All American Pipeline will post 1.1 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a $0.2175 dividend. The ex-dividend date is Thursday, July 28th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 7.93%. Plains All American Pipeline’s dividend payout ratio is presently 378.26%.

Insider Buying and Selling

In other Plains All American Pipeline news, Director Kevin S. Mccarthy bought 200,000 shares of the stock in a transaction that occurred on Thursday, June 23rd. The shares were bought at an average price of $9.81 per share, for a total transaction of $1,962,000.00. Following the acquisition, the director now directly owns 200,000 shares of the company’s stock, valued at approximately $1,962,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plains All American Pipeline

Institutional investors and hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC grew its position in Plains All American Pipeline by 1.1% in the 2nd quarter. Lindbrook Capital LLC now owns 91,941 shares of the pipeline company’s stock worth $903,000 after purchasing an additional 1,011 shares in the last quarter. US Bancorp DE grew its position in Plains All American Pipeline by 27.9% in the 2nd quarter. US Bancorp DE now owns 119,706 shares of the pipeline company’s stock worth $1,175,000 after purchasing an additional 26,110 shares in the last quarter. National Bank of Canada FI grew its position in Plains All American Pipeline by 46.5% in the 2nd quarter. National Bank of Canada FI now owns 31,893 shares of the pipeline company’s stock worth $313,000 after purchasing an additional 10,123 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Plains All American Pipeline in the 2nd quarter worth about $143,000. Finally, Jackson Hole Capital Partners LLC grew its position in Plains All American Pipeline by 8.1% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 61,921 shares of the pipeline company’s stock worth $608,000 after purchasing an additional 4,650 shares in the last quarter. Institutional investors and hedge funds own 45.58% of the company’s stock.

About Plains All American Pipeline

(Get Rating)

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

Further Reading

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

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