Plains All American Pipeline (NYSE:PAA) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Plains All American Pipeline (NYSE:PAAGet Rating) from an overweight rating to a neutral rating in a research note issued to investors on Monday morning, The Fly reports. They currently have $14.00 price objective on the pipeline company’s stock, down from their previous price objective of $15.00.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of Plains All American Pipeline from $16.00 to $15.00 and set an overweight rating on the stock in a report on Friday, November 4th. UBS Group upped their price target on shares of Plains All American Pipeline from $17.00 to $18.00 and gave the stock a buy rating in a report on Thursday, August 4th. Mizuho increased their target price 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. StockNews.com cut Plains All American Pipeline from a buy rating to a hold rating in a research note on Tuesday, November 8th. Finally, TD Securities increased their target price on Plains All American Pipeline from $14.50 to $15.00 and gave the company a buy rating in a research note on Thursday, November 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline has a consensus rating of Moderate Buy and an average price target of $14.50.

Plains All American Pipeline Trading Down 1.2 %

Plains All American Pipeline stock opened at $12.27 on Monday. The stock has a market cap of $8.57 billion, a P/E ratio of 10.31 and a beta of 1.71. Plains All American Pipeline has a fifty-two week low of $8.64 and a fifty-two week high of $12.75. The firm’s fifty day moving average price is $11.69 and its 200-day moving average price is $11.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.93 and a current ratio of 1.05.

Plains All American Pipeline (NYSE:PAAGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The pipeline company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.06. The firm had revenue of $14.34 billion for the quarter, compared to analysts’ expectations of $16.50 billion. Plains All American Pipeline had a net margin of 2.05% and a return on equity of 9.41%. The business’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Equities research analysts forecast that Plains All American Pipeline will post 1.2 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Monday, October 31st were given a dividend of $0.2175 per share. The ex-dividend date was Friday, October 28th. This represents a $0.87 annualized dividend and a yield of 7.09%. Plains All American Pipeline’s payout ratio is 60.00%.

Institutional Trading of Plains All American Pipeline

Institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC boosted its position in Plains All American Pipeline by 16.4% during the first quarter. Cetera Advisors LLC now owns 21,175 shares of the pipeline company’s stock valued at $228,000 after buying an additional 2,984 shares during the period. Optimum Investment Advisors purchased a new stake in shares of Plains All American Pipeline during the second quarter worth about $98,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Plains All American Pipeline by 46.5% during the first 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 during the period. Cohen & Steers Inc. boosted its holdings in shares of Plains All American Pipeline by 397.5% during the first 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 during the period. Finally, UBS Group AG boosted its holdings in shares of Plains All American Pipeline by 20.0% during the second quarter. UBS Group AG now owns 10,163,484 shares of the pipeline company’s stock worth $99,805,000 after purchasing an additional 1,696,004 shares during the period. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

(Get Rating)

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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