Plains All American Pipeline (NYSE:PAA) Lowered to “Buy” at StockNews.com

StockNews.com cut shares of Plains All American Pipeline (NYSE:PAA) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

A number of other research firms also recently weighed in on PAA. Citigroup boosted their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a report on Friday, March 1st. The Goldman Sachs Group lifted their target price on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a sell rating in a report on Friday, April 12th. Scotiabank initiated coverage on Plains All American Pipeline in a report on Monday, April 8th. They set a sector outperform rating and a $23.00 price target on the stock. UBS Group lifted their price objective on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a research note on Friday, April 12th. Finally, Stifel Nicolaus raised their price objective on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $18.96.

Plains All American Pipeline Price Performance

NYSE PAA opened at $17.49 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 12 month low of $12.07 and a 12 month high of $19.03. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 15.08 and a beta of 1.58. The company’s 50 day moving average is $17.37 and its two-hundred day moving average is $16.15.

Plains All American Pipeline (NYSE:PAA) last released its earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts anticipate that Plains All American Pipeline will post 1.32 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date of this dividend is Tuesday, April 30th. Plains All American Pipeline’s dividend payout ratio (DPR) is 109.48%.

Hedge Funds Weigh In On Plains All American Pipeline

A number of large investors have recently bought and sold shares of PAA. Future Financial Wealth Managment LLC bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at about $28,000. CENTRAL TRUST Co boosted its position in shares of Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 1,700 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Plains All American Pipeline during the 4th quarter worth $39,000. Scarborough Advisors LLC acquired a new position in Plains All American Pipeline during the 4th quarter valued at about $46,000. Finally, Briaud Financial Planning Inc purchased a new stake in Plains All American Pipeline in the third quarter valued at about $58,000. Institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.