Plains All American Pipeline (NASDAQ:PAA) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Plains All American Pipeline (NASDAQ:PAA) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

PAA has been the subject of several other reports. Truist Financial increased their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Mizuho lifted their price objective on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Wells Fargo & Company boosted their price objective on shares of Plains All American Pipeline from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. US Capital Advisors cut shares of Plains All American Pipeline from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, May 29th. Finally, Morgan Stanley raised their target price on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of “Hold” and an average price target of $23.54.

Plains All American Pipeline Trading Up 0.7%

Shares of NASDAQ:PAA opened at $25.65 on Friday. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $25.75. The business’s fifty day simple moving average is $23.66 and its 200-day simple moving average is $22.52. The company has a market capitalization of $18.10 billion, a PE ratio of 7.11, a P/E/G ratio of 8.81 and a beta of 0.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69.

Plains All American Pipeline (NASDAQ:PAA) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.09). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%.The company had revenue of $17.69 billion for the quarter. During the same period in the prior year, the business earned $0.36 EPS. Plains All American Pipeline’s revenue was up 66.3% compared to the same quarter last year. As a group, equities research analysts predict that Plains All American Pipeline will post 1.77 earnings per share for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a $0.4175 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.67 dividend on an annualized basis and a yield of 6.5%. Plains All American Pipeline’s dividend payout ratio (DPR) is 46.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PAA. Financial Life Planners purchased a new position in shares of Plains All American Pipeline in the first quarter worth $27,000. Allied Private Wealth LLC purchased a new stake in shares of Plains All American Pipeline during the second quarter valued at $33,000. Fulcrum Asset Management LLP acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $50,000. Farther Finance Advisors LLC increased its position in shares of Plains All American Pipeline by 342.7% in the 4th quarter. Farther Finance Advisors LLC now owns 4,068 shares of the company’s stock valued at $73,000 after acquiring an additional 3,149 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Plains All American Pipeline by 93.2% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,232 shares of the company’s stock valued at $78,000 after acquiring an additional 2,041 shares during the period. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.