Plains All American Pipeline (NYSE:PAA) Stock Rating Lowered by StockNews.com

Plains All American Pipeline (NYSE:PAA – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

PAA has been the subject of a number of other research reports. Truist Financial increased their target price on shares of Plains All American Pipeline from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 2nd. Mizuho increased their target price on shares of Plains All American Pipeline from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Sanford C. Bernstein downgraded shares of Plains All American Pipeline from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $15.00 to $14.50 in a research report on Tuesday, February 7th. Raymond James increased their target price on shares of Plains All American Pipeline from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. Finally, UBS Group increased their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.10.

Plains All American Pipeline Stock Performance

Plains All American Pipeline stock opened at $12.31 on Monday. The business has a 50 day moving average of $12.62 and a 200-day moving average of $12.07. Plains All American Pipeline has a 1 year low of $9.10 and a 1 year high of $13.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.91 and a quick ratio of 0.79. The company has a market capitalization of $8.60 billion, a P/E ratio of 10.34 and a beta of 1.70.

Plains All American Pipeline (NYSE:PAA – Get Rating) last released its quarterly earnings data on Tuesday, February 14th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Plains All American Pipeline had a net margin of 1.72% and a return on equity of 9.81%. The firm had revenue of $12.95 billion during the quarter, compared to analyst estimates of $15.05 billion. During the same period in the prior year, the company earned $0.25 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Plains All American Pipeline will post 1.14 earnings per share for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

Large investors have recently modified their holdings of the company. UBS Group AG lifted its holdings in shares of Plains All American Pipeline by 20.0% in the 2nd quarter. UBS Group AG now owns 10,163,484 shares of the pipeline company’s stock worth $99,805,000 after purchasing an additional 1,696,004 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Plains All American Pipeline by 1,423.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 26,166 shares of the pipeline company’s stock valued at $275,000 after acquiring an additional 24,448 shares in the last quarter. Mather Group LLC. bought a new position in Plains All American Pipeline during the 2nd quarter valued at $138,000. Moody Aldrich Partners LLC bought a new position in Plains All American Pipeline during the 3rd quarter valued at $1,104,000. Finally, Penn Mutual Asset Management LLC lifted its stake in Plains All American Pipeline by 177.2% during the 3rd quarter. Penn Mutual Asset Management LLC now owns 109,500 shares of the pipeline company’s stock valued at $1,152,000 after acquiring an additional 70,000 shares in the last quarter. 42.26% of the stock is currently owned by institutional investors.

About Plains All American Pipeline

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Plains All American Pipeline LP engages in the provision of logistics services and owns midstream energy infrastructure. It operates through the following business segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment includes transporting crude oil and natural gas liquids (NGL) on pipelines, gathering systems, and trucks.