Plains All American Pipeline, L.P. (PAA) Downgraded by Howard Weil

Howard Weil lowered shares of Plains All American Pipeline, L.P. (NYSE:PAA) from a sector outperform rating to a sector perform rating in a research note published on Tuesday, MarketBeat Ratings reports.

A number of other research analysts also recently weighed in on PAA. UBS AG raised Plains All American Pipeline, L.P. from a market perform rating to an outperform rating in a research note on Monday, May 22nd. BidaskClub raised Plains All American Pipeline, L.P. from a sell rating to a hold rating in a research note on Saturday, July 8th. Scotiabank set a $36.00 price objective on Plains All American Pipeline, L.P. and gave the company a buy rating in a research note on Saturday, July 22nd. Stifel Nicolaus reaffirmed a hold rating and issued a $30.00 price target on shares of Plains All American Pipeline, L.P. in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG downgraded Plains All American Pipeline, L.P. from a buy rating to a hold rating and dropped their price target for the stock from $34.00 to $29.00 in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $30.19.

Shares of Plains All American Pipeline, L.P. (PAA) opened at 20.40 on Tuesday. The firm has a 50-day moving average of $25.48 and a 200 day moving average of $28.57. The firm has a market cap 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 12 month low of $20.00 and a 12 month high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 in the previous year, the business posted ($0.12) earnings per share. The firm’s revenue was up 22.8% on a year-over-year basis. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post $1.61 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.78%. The ex-dividend date of this dividend is Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio is presently 165.41%.

Hedge funds have recently added to or reduced their stakes in the stock. Founders Capital Management purchased a new stake in Plains All American Pipeline, L.P. during the first quarter worth about $101,000. Trust Co. of Vermont raised its stake 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 in the last quarter. Pathstone Family Office LLC bought a new stake in shares of Plains All American Pipeline, L.P. during the second quarter valued at approximately $127,000. Parkside Financial Bank & Trust raised its stake 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 in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Plains All American Pipeline, L.P. during the first quarter valued at approximately $139,000. Institutional investors and hedge funds own 44.01% of the company’s stock.

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.

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