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

StockNews.com downgraded shares of Plains All American Pipeline (NYSE:PAA) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Several other equities analysts have also issued reports on PAA. Stifel Nicolaus boosted their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the company a buy rating in a research report on Tuesday. Truist Financial boosted their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a research report on Tuesday, March 19th. The Goldman Sachs Group upped their price target on Plains All American Pipeline from $14.50 to $16.00 and gave the stock a sell rating in a research report on Friday, April 12th. Scotiabank assumed coverage on Plains All American Pipeline in a research report on Monday, April 8th. They set a sector outperform rating and a $23.00 price target for the company. Finally, Citigroup upped their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a research report on Friday, March 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $18.96.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $17.69 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.98 and a quick ratio of 0.87. The stock has a market cap of $12.40 billion, a PE ratio of 12.73 and a beta of 1.59. The stock has a 50-day moving average of $16.99 and a 200-day moving average of $15.93. Plains All American Pipeline has a one year low of $12.07 and a one year high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $14.30 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. Plains All American Pipeline’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. As a group, sell-side analysts expect that Plains All American Pipeline will post 1.26 earnings per share for the current year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.3175 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date is Tuesday, April 30th. Plains All American Pipeline’s payout ratio is 91.37%.

Institutional Trading of Plains All American Pipeline

Hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Plains All American Pipeline during the first quarter valued at about $28,000. Sunbelt Securities Inc. bought a new position in shares of Plains All American Pipeline during the first quarter worth about $28,000. CENTRAL TRUST Co raised its position in shares of Plains All American Pipeline by 212.5% during the third quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after acquiring an additional 1,700 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter worth about $39,000. Finally, Clear Street Markets LLC bought a new position in shares of Plains All American Pipeline during the fourth quarter worth about $45,000. 41.78% of the stock is 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.