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

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

A number of other research firms have also recently weighed in on PAA. Truist Financial boosted their target price on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the company a buy rating in a research note on Tuesday, March 19th. The Goldman Sachs Group increased their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a report on Friday, April 12th. UBS Group boosted their target price on Plains All American Pipeline from $21.00 to $22.00 and gave the company a buy rating in a research note on Friday, April 12th. Stifel Nicolaus upped their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Finally, Citigroup lifted their price objective 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 given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $18.96.

Plains All American Pipeline Stock Up 1.5 %

NYSE PAA traded up $0.26 on Thursday, reaching $17.49. The company had a trading volume of 5,599,907 shares, compared to its average volume of 4,457,181. The company’s fifty day moving average is $17.35 and its 200 day moving average is $16.13. The stock has a market capitalization of $12.26 billion, a P/E ratio of 12.58 and a beta of 1.58. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a 52-week low of $12.07 and a 52-week high of $19.03.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business posted $0.41 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Sell-side analysts anticipate that Plains All American Pipeline will post 1.32 earnings per share for the current fiscal 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 given a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.26%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 91.37%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PAA. Larson Financial Group LLC purchased a new position in shares of Plains All American Pipeline during the first quarter worth about $88,000. BNP Paribas Financial Markets grew its stake in 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 worth $32,044,000 after buying an additional 747,852 shares in the last quarter. Norden Group LLC bought a new position in shares of Plains All American Pipeline in the 1st quarter worth $338,000. SpiderRock Advisors LLC purchased a new stake in shares of Plains All American Pipeline during the 1st quarter valued at $282,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Plains All American Pipeline by 4.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 125,542 shares of the pipeline company’s stock worth $2,205,000 after acquiring an additional 5,529 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

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.