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

Plains All American Pipeline (NYSE:PAA) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Tuesday, TheStreetRatingsTable reports.

A number of other brokerages have also recently issued reports on PAA. Stifel Nicolaus set a $25.00 price objective on Plains All American Pipeline and gave the company a “buy” rating in a research note on Wednesday, August 7th. Wolfe Research upgraded shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating in a report on Thursday, June 13th. Piper Jaffray Companies started coverage on shares of Plains All American Pipeline in a report on Wednesday, July 17th. They set an “overweight” rating and a $31.00 target price for the company. Scotiabank started coverage on shares of Plains All American Pipeline in a report on Tuesday, September 3rd. They set an “outperform” rating and a $28.00 target price for the company. Finally, Royal Bank of Canada dropped their target price on shares of Plains All American Pipeline to $27.00 and set a “sector perform” rating for the company in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $27.73.

Shares of NYSE:PAA opened at $19.24 on Tuesday. The stock’s 50-day moving average price is $21.15 and its 200-day moving average price is $23.17. 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 capitalization of $14.42 billion, a P/E ratio of 10.23 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.

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

In other Plains All American Pipeline news, VP Chris Herbold sold 23,337 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 79,564 shares in the company, valued at $1,701,078.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Cypress Wealth Advisors LLC lifted its holdings in Plains All American Pipeline by 27.2% in the first quarter. Cypress Wealth Advisors LLC now owns 70,800 shares of the pipeline company’s stock worth $1,735,000 after buying an additional 15,150 shares during the period. Stephens Inc. AR lifted its holdings in Plains All American Pipeline by 1.6% in the second quarter. Stephens Inc. AR now owns 126,361 shares of the pipeline company’s stock worth $3,077,000 after buying an additional 1,962 shares during the period. RR Advisors LLC lifted its holdings in Plains All American Pipeline by 0.9% in the first quarter. RR Advisors LLC now owns 2,114,000 shares of the pipeline company’s stock worth $51,809,000 after buying an additional 18,000 shares during the period. Van ECK Associates Corp lifted its holdings in Plains All American Pipeline by 3.3% in the second quarter. Van ECK Associates Corp now owns 31,731 shares of the pipeline company’s stock worth $773,000 after buying an additional 999 shares during the period. Finally, Tiedemann Advisors LLC lifted its holdings in Plains All American Pipeline by 3.1% in the second quarter. Tiedemann Advisors LLC now owns 908,097 shares of the pipeline company’s stock worth $22,112,000 after buying an additional 27,610 shares during the period. Institutional investors and hedge funds own 50.41% of the company’s stock.

About Plains All American Pipeline

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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