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

Plains All American Pipeline (NYSE:PAA) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Several other research firms have also weighed in on PAA. Stifel Nicolaus lifted their price objective on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. The Goldman Sachs Group lifted their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. UBS Group increased 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 report on Friday, April 12th. Scotiabank initiated coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price for the company. Finally, Citigroup increased their price target on Plains All American Pipeline from $16.50 to $17.50 and gave the stock a “neutral” rating in a report on Friday, March 1st. Two equities research 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. According to data from MarketBeat.com, Plains All American Pipeline has an average rating of “Moderate Buy” and a consensus target price of $18.96.

Plains All American Pipeline Trading Up 1.5 %

Plains All American Pipeline stock traded up $0.26 during trading hours on Thursday, reaching $17.49. 5,599,907 shares of the company’s stock were exchanged, compared to its average volume of 4,457,181. The firm’s 50 day simple moving average is $17.35 and its 200 day simple moving average is $16.13. Plains All American Pipeline has a twelve month low of $12.07 and a twelve month high of $19.03. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $12.26 billion, a PE ratio of 12.58 and a beta of 1.58.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.98 billion. Plains All American Pipeline had a return on equity of 10.48% and a net margin of 2.39%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. Research analysts predict that Plains All American Pipeline will post 1.32 earnings per share for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently added to or reduced their stakes in PAA. Capital Advisors Inc. OK bought a new position in Plains All American Pipeline in the 4th quarter valued at $4,234,000. Mirae Asset Global Investments Co. Ltd. grew its position in Plains All American Pipeline by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,908,296 shares of the pipeline company’s stock valued at $195,561,000 after buying an additional 1,135,737 shares during the period. ING Groep NV grew its position in Plains All American Pipeline by 12.2% during the third quarter. ING Groep NV now owns 3,043,600 shares of the pipeline company’s stock valued at $46,628,000 after buying an additional 332,000 shares during the period. DAVENPORT & Co LLC purchased a new stake in Plains All American Pipeline during the fourth quarter worth about $182,000. Finally, Envestnet Asset Management Inc. raised its position in Plains All American Pipeline by 374.7% in the third quarter. Envestnet Asset Management Inc. now owns 229,923 shares of the pipeline company’s stock worth $3,522,000 after acquiring an additional 181,484 shares during the period. 41.78% of the stock is owned by institutional investors.

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.