Zacks Research upgraded shares of Plains All American Pipeline (NASDAQ:PAA – Free Report) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.
PAA has been the subject of a number of other research reports. The Goldman Sachs Group raised shares of Plains All American Pipeline from a “sell” rating to a “neutral” rating and raised their price target for the stock from $18.00 to $24.00 in a research report on Wednesday, June 3rd. Morgan Stanley increased their price objective on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 20th. US Capital Advisors lowered shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 29th. Wells Fargo & Company boosted their target price on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Barclays upped their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.23.
View Our Latest Stock Analysis on Plains All American Pipeline
Plains All American Pipeline Stock Performance
Plains All American Pipeline (NASDAQ:PAA – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). The business had revenue of $17.69 billion for the quarter. Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.50%. The company’s quarterly revenue was up 66.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. As a group, research analysts forecast that Plains All American Pipeline will post 1.83 earnings per share for the current year.
Plains All American Pipeline Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 7.2%. The ex-dividend date is Friday, July 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 46.26%.
Institutional Trading of Plains All American Pipeline
A number of institutional investors have recently made changes to their positions in PAA. Financial Life Planners acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at $27,000. Allied Private Wealth LLC acquired a new stake in Plains All American Pipeline during the 2nd quarter worth about $33,000. Fulcrum Asset Management LLP acquired a new stake in Plains All American Pipeline during the 3rd quarter worth about $50,000. Scarborough Advisors LLC purchased a new stake in Plains All American Pipeline during the first quarter valued at about $80,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Plains All American Pipeline by 1,164.7% during the first quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company’s stock valued at $85,000 after buying an additional 3,494 shares in the last quarter. 41.78% of the stock is owned by institutional investors and hedge funds.
About Plains All American Pipeline
Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.
Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.
Recommended Stories
- Five stocks we like better than Plains All American Pipeline
- Atlassian Just Pulled Off the Software Comeback Wall Street Wanted
- AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be
- NVIDIA’s Rally Sets Up a Bigger Test Ahead of Earnings
- Apple’s Next iPhone Could Test How Much Pricing Power Is Left
Receive News & Ratings for Plains All American Pipeline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plains All American Pipeline and related companies with MarketBeat.com's FREE daily email newsletter.
