Plains All American Pipeline (NYSE:PAA) Downgraded by StockNews.com

StockNews.com cut shares of Plains All American Pipeline (NYSE:PAA) from a strong-buy rating to a buy rating in a report issued on Thursday.

A number of other research firms have also recently commented on PAA. UBS Group increased their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a report on Friday, April 12th. Scotiabank started 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 on the stock. The Goldman Sachs Group raised 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 report on Friday, April 12th. Truist Financial raised their target price on Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Finally, Citigroup raised their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Plains All American Pipeline presently has a consensus rating of Moderate Buy and a consensus price target of $18.96.

Plains All American Pipeline Price Performance

Plains All American Pipeline stock opened at $17.49 on Thursday. The firm has a market cap of $12.26 billion, a PE ratio of 15.08 and a beta of 1.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The stock’s fifty day moving average price is $17.37 and its two-hundred day moving average price is $16.15. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. Plains All American Pipeline’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 earnings per share. As a group, research analysts expect that Plains All American Pipeline will post 1.32 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is 109.48%.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline during the first quarter worth approximately $28,000. CENTRAL TRUST Co raised its holdings in shares of Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares during the last quarter. Fortitude Family Office LLC bought a new position in Plains All American Pipeline in the 4th quarter valued at about $39,000. Scarborough Advisors LLC acquired a new position in Plains All American Pipeline during the 4th quarter valued at about $46,000. Finally, Briaud Financial Planning Inc bought a new stake in Plains All American Pipeline during the 3rd quarter worth approximately $58,000. Institutional investors and hedge funds own 41.78% of the company’s stock.

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.