Plains All American Pipeline (PAA) Rating Lowered to Sell at ValuEngine

Plains All American Pipeline (NYSE:PAA) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley set a $28.00 price target on shares of Plains All American Pipeline and gave the stock a “buy” rating in a research note on Friday, September 14th. Johnson Rice started coverage on shares of Plains All American Pipeline in a research note on Thursday, September 13th. They set a “buy” rating and a $31.00 target price on the stock. Seaport Global Securities started coverage on shares of Plains All American Pipeline in a research note on Friday, July 27th. They set a “buy” rating and a $28.00 target price on the stock. Bank of America upgraded shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, July 18th. Finally, BMO Capital Markets restated a “buy” rating and set a $27.00 target price on shares of Plains All American Pipeline in a research note on Friday, July 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. Plains All American Pipeline has an average rating of “Buy” and an average target price of $27.75.

Shares of Plains All American Pipeline stock traded up $1.05 on Thursday, hitting $22.82. 2,805,000 shares of the company’s stock were exchanged, compared to its average volume of 2,826,074. The stock has a market capitalization of $15.67 billion, a PE ratio of 24.28, a P/E/G ratio of 1.66 and a beta of 0.81. Plains All American Pipeline has a 1 year low of $18.38 and a 1 year high of $27.70. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.63.

Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Tuesday, August 7th. The pipeline company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.15. The business had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $8.18 billion. Plains All American Pipeline had a net margin of 2.04% and a return on equity of 12.80%. As a group, research analysts anticipate that Plains All American Pipeline will post 1.67 EPS for the current year.

In related news, VP Chris Herbold sold 10,591 shares of Plains All American Pipeline stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total transaction of $279,072.85. Following the transaction, the vice president now owns 34,227 shares in the company, valued at approximately $901,881.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PAA. Centaurus Financial Inc. bought a new stake in Plains All American Pipeline in the 2nd quarter valued at $109,000. Exane Derivatives increased its holdings in Plains All American Pipeline by 14,250.0% in the 3rd quarter. Exane Derivatives now owns 5,740 shares of the pipeline company’s stock valued at $142,000 after acquiring an additional 5,700 shares during the last quarter. Stuart Chaussee & Associates Inc. bought a new stake in Plains All American Pipeline in the 2nd quarter valued at $162,000. Penn Davis Mcfarland Inc. bought a new stake in Plains All American Pipeline in the 2nd quarter valued at $201,000. Finally, Palo Capital Inc. bought a new stake in Plains All American Pipeline in the 3rd quarter valued at $207,000. Institutional investors own 45.60% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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