Plains All American Pipeline (NYSE:PAA – Get Rating) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.
Several other research firms also recently issued reports on PAA. TD Securities boosted their price target on Plains All American Pipeline from $14.00 to $14.50 and gave the company a "buy" rating in a research note on Thursday, August 4th. Bank of America upgraded Plains All American Pipeline from an "underperform" rating to a "neutral" rating and set a $12.00 price target for the company in a research note on Tuesday, July 19th. Royal Bank of Canada boosted their price target on Plains All American Pipeline from $12.00 to $13.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 17th. TheStreet upgraded Plains All American Pipeline from a "c" rating to a "b-" rating in a research note on Thursday, August 4th. Finally, Mizuho boosted their price target on Plains All American Pipeline from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, August 8th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.38.
Get Plains All American Pipeline alerts:Plains All American Pipeline Stock Performance
Shares of NYSE PAA opened at $10.65 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.77. Plains All American Pipeline has a 12 month low of $8.64 and a 12 month high of $12.57. The stock has a 50 day moving average of $11.50 and a 200-day moving average of $11.00. The company has a market capitalization of $7.51 billion, a P/E ratio of 12.99 and a beta of 1.73.
Plains All American Pipeline (NYSE:PAA – Get Rating) last issued its earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.50% and a net margin of 1.36%. During the same quarter in the prior year, the company posted $0.23 earnings per share. As a group, equities research analysts predict that Plains All American Pipeline will post 1.1 EPS for the current year.Hedge Funds Weigh In On Plains All American Pipeline
Institutional investors have recently modified their holdings of the business. Cetera Advisors LLC raised its holdings in shares of Plains All American Pipeline by 16.4% during the 1st quarter. Cetera Advisors LLC now owns 21,175 shares of the pipeline company's stock worth $228,000 after buying an additional 2,984 shares in the last quarter. Optimum Investment Advisors acquired a new position in Plains All American Pipeline in the 2nd quarter worth about $98,000. Northwestern Mutual Wealth Management Co. increased its holdings in Plains All American Pipeline by 46.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 9,260 shares of the pipeline company's stock worth $100,000 after purchasing an additional 2,940 shares in the last quarter. Cohen & Steers Inc. increased its holdings in Plains All American Pipeline by 397.5% in the 1st quarter. Cohen & Steers Inc. now owns 2,302,750 shares of the pipeline company's stock worth $24,778,000 after purchasing an additional 1,839,927 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Plains All American Pipeline by 25.6% in the 4th quarter. Invesco Ltd. now owns 12,534,975 shares of the pipeline company's stock worth $117,077,000 after purchasing an additional 2,556,325 shares in the last quarter. Institutional investors and hedge funds own 41.52% of the company's stock.
About Plains All American Pipeline
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Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.
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