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

Howard Weil downgraded 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 morning, Marketbeat Ratings reports.

Several other equities research analysts also recently weighed in on the company. Scotiabank set a $36.00 price objective on Plains All American Pipeline, L.P. and gave the company a buy rating in a report on Saturday, July 22nd. Jefferies Group LLC reissued a hold rating and set a $28.00 price objective (up previously from $27.00) on shares of Plains All American Pipeline, L.P. in a report on Friday, July 21st. Stifel Nicolaus reissued a hold rating and set a $30.00 price objective on shares of Plains All American Pipeline, L.P. in a report on Wednesday, July 19th. Barclays PLC raised Plains All American Pipeline, L.P. from an equal weight rating to an overweight rating and set a $31.00 target price on the stock in a report on Tuesday, July 18th. Finally, Deutsche Bank AG downgraded Plains All American Pipeline, L.P. from a buy rating to a hold rating and cut their target price for the stock from $34.00 to $29.00 in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $30.19.

Plains All American Pipeline, L.P. (PAA) opened at 20.40 on Tuesday. The firm has a 50-day moving average price of $25.48 and a 200-day moving average price of $28.57. The firm has a market cap of $14.79 billion, a price-to-earnings ratio of 15.74 and a beta of 0.95. Plains All American Pipeline, L.P. has a 1-year low of $20.00 and a 1-year high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the business earned ($0.12) EPS. The company’s revenue was up 22.8% compared to the same quarter last year. On average, analysts expect that Plains All American Pipeline, L.P. will post $1.61 earnings per share for the current fiscal year.

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The firm 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 $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 10.78%. The ex-dividend date is Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is presently 165.41%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D raised its stake in shares of Plains All American Pipeline, L.P. by 2.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 381,800 shares of the pipeline company’s stock worth $12,069,000 after buying an additional 9,300 shares during the last quarter. Rothschild Investment Corp IL raised its stake in shares of Plains All American Pipeline, L.P. by 3.1% in the second quarter. Rothschild Investment Corp IL now owns 99,975 shares of the pipeline company’s stock worth $2,626,000 after buying an additional 3,050 shares during the last quarter. Bollard Group LLC raised its stake in shares of Plains All American Pipeline, L.P. by 2.0% in the second quarter. Bollard Group LLC now owns 333,220 shares of the pipeline company’s stock worth $8,754,000 after buying an additional 6,461 shares during the last quarter. Verity & Verity LLC raised its stake in shares of Plains All American Pipeline, L.P. by 0.9% in the first quarter. Verity & Verity LLC now owns 36,742 shares of the pipeline company’s stock worth $1,161,000 after buying an additional 310 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Plains All American Pipeline, L.P. by 8.2% in the first quarter. Stifel Financial Corp now owns 621,628 shares of the pipeline company’s stock worth $19,646,000 after buying an additional 47,348 shares during the last quarter. 44.01% of the stock is owned by hedge funds and other institutional investors.

About Plains All American Pipeline, L.P.

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)

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