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

Plains All American Pipeline (NYSE:PAA) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other brokerages have also issued reports on PAA. The Goldman Sachs Group upped their target price 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. Citigroup upped their target price on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the company a “neutral” rating in a research note on Friday, March 1st. Scotiabank initiated coverage on shares of Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 target price on the stock. Stifel Nicolaus upped their target price 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. Finally, UBS Group upped their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.96.

Plains All American Pipeline Stock Down 1.4 %

PAA stock traded down $0.25 during trading on Tuesday, reaching $17.26. The stock had a trading volume of 6,695,210 shares, compared to its average volume of 3,365,786. Plains All American Pipeline has a 1-year low of $12.07 and a 1-year high of $19.03. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $12.10 billion, a P/E ratio of 12.42 and a beta of 1.59. The firm has a fifty day moving average price of $16.91 and a 200 day moving average price of $15.91.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the business posted $0.33 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Plains All American Pipeline will post 1.25 earnings per share for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

A number of institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in Plains All American Pipeline in the 1st quarter worth about $28,000. Sunbelt Securities Inc. bought a new position in Plains All American Pipeline in the 1st quarter worth about $28,000. CENTRAL TRUST Co grew its position in Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 1,700 shares during the last quarter. Fortitude Family Office LLC bought a new position in Plains All American Pipeline in the 4th quarter worth about $39,000. Finally, Clear Street Markets LLC bought a new position in Plains All American Pipeline in the 4th quarter worth about $45,000. 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.