Plains All American Pipeline (NYSE:PAA) Shares Down 3.8%

Plains All American Pipeline, L.P. (NYSE:PAA) fell 3.8% on Thursday . The stock traded as low as $17.34 and last traded at $17.35. 655,473 shares traded hands during trading, a decline of 76% from the average session volume of 2,754,099 shares. The stock had previously closed at $18.03.

Analysts Set New Price Targets

Several research firms have weighed in on PAA. UBS Group upped their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $19.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Finally, Morgan Stanley increased their price target on Plains All American Pipeline from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.10.

Plains All American Pipeline Stock Down 5.0 %

The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 14.96 and a beta of 1.60. The stock has a fifty day moving average of $17.77 and a two-hundred day moving average of $17.63. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.00 and a quick ratio of 0.90.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $12.32 billion. Plains All American Pipeline had a return on equity of 11.52% and a net margin of 2.07%. Plains All American Pipeline’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. Sell-side analysts anticipate that Plains All American Pipeline, L.P. will post 1.3 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.3175 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.27 dividend on an annualized basis and a yield of 7.41%. Plains All American Pipeline’s payout ratio is 109.48%.

Institutional Trading of Plains All American Pipeline

A number of large investors have recently bought and sold shares of PAA. Acadian Asset Management LLC grew its holdings in Plains All American Pipeline by 114.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,908,416 shares of the pipeline company’s stock worth $34,081,000 after acquiring an additional 1,020,277 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Plains All American Pipeline by 69.4% in the 1st quarter. BNP Paribas Financial Markets now owns 1,824,808 shares of the pipeline company’s stock valued at $32,044,000 after buying an additional 747,852 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Plains All American Pipeline in the 4th quarter valued at about $6,112,000. Blackstone Inc. grew its stake in shares of Plains All American Pipeline by 1.4% in the 1st quarter. Blackstone Inc. now owns 23,539,035 shares of the pipeline company’s stock valued at $413,345,000 after buying an additional 318,944 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Plains All American Pipeline in the 1st quarter valued at about $4,420,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

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.