Deutsche Bank AG Downgrades Plains All American Pipeline, L.P. (PAA) to Hold

Plains All American Pipeline, L.P. (NYSE:PAA) was downgraded by Deutsche Bank AG from a “buy” rating to a “hold” rating in a report issued on Thursday, July 13th. They currently have a $29.00 target price on the pipeline company’s stock, down from their prior target price of $34.00. Deutsche Bank AG’s target price suggests a potential upside of 42.16% from the company’s previous close.

PAA has been the subject of a number of other reports. Mizuho raised shares of Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a report on Monday, July 10th. Scotiabank reaffirmed a “buy” rating and set a $36.00 price objective on shares of Plains All American Pipeline, L.P. in a report on Thursday, March 23rd. Guggenheim initiated coverage on shares of Plains All American Pipeline, L.P. in a report on Monday, April 17th. They set a “neutral” rating and a $28.00 price objective for the company. UBS AG raised shares of Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating in a report on Monday, May 22nd. Finally, BidaskClub raised shares of Plains All American Pipeline, L.P. from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $30.19.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) traded down 1.31% during trading on Thursday, reaching $20.40. 3,923,485 shares of the company’s stock were exchanged. The company has a 50 day moving average of $25.48 and a 200 day moving average of $28.57. The firm has a market capitalization of $14.79 billion, a P/E ratio of 15.74 and a beta of 0.95. Plains All American Pipeline, L.P. has a 52-week low of $20.00 and a 52-week high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The company had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period last year, the company earned ($0.12) earnings per share. Plains All American Pipeline, L.P.’s revenue for the quarter was up 22.8% on a year-over-year basis. Equities analysts anticipate that Plains All American Pipeline, L.P. will post $1.61 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Deutsche Bank AG Downgrades Plains All American Pipeline, L.P. (PAA) to Hold” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://www.com-unik.info/2017/08/11/deutsche-bank-ag-downgrades-plains-all-american-pipeline-l-p-paa-to-hold-updated-updated-updated.html.

Several hedge funds and other institutional investors have recently modified their holdings of PAA. Founders Capital Management acquired a new position in shares of Plains All American Pipeline, L.P. during the first quarter valued at about $101,000. Trust Co. of Vermont raised its position in shares of Plains All American Pipeline, L.P. by 1,260.0% in the first quarter. Trust Co. of Vermont now owns 3,400 shares of the pipeline company’s stock valued at $107,000 after buying an additional 3,150 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Plains All American Pipeline, L.P. by 23.3% in the first quarter. Parkside Financial Bank & Trust now owns 4,228 shares of the pipeline company’s stock valued at $134,000 after buying an additional 800 shares during the period. Advisory Services Network LLC acquired a new position in shares of Plains All American Pipeline, L.P. during the first quarter valued at about $139,000. Finally, Pathstone Family Office LLC acquired a new position in shares of Plains All American Pipeline, L.P. during the second quarter valued at about $127,000. 44.01% of the stock is currently owned by institutional investors.

Plains All American Pipeline, L.P. Company Profile

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

Analyst Recommendations for Plains All American Pipeline, L.P. (NYSE:PAA)

What are top analysts saying about Plains All American Pipeline L.P.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Plains All American Pipeline L.P. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit