Plains All American Pipeline (NYSE:PAA) Earns Hold Rating from Barclays

Barclays reaffirmed their hold rating on shares of Plains All American Pipeline (NYSE:PAA) in a research report released on Wednesday morning, AnalystRatings.com reports. Barclays currently has a $24.00 price objective on the pipeline company’s stock.

A number of other research analysts have also recently commented on PAA. Piper Jaffray Companies initiated coverage on Plains All American Pipeline in a research note on Wednesday, July 17th. They issued an overweight rating and a $31.00 target price for the company. Scotia Howard Weill assumed coverage on Plains All American Pipeline in a research report on Tuesday, September 3rd. They set an outperform rating and a $28.00 price objective for the company. Stifel Nicolaus set a $25.00 target price on Plains All American Pipeline and gave the stock a buy rating in a report on Wednesday, August 7th. ValuEngine raised Plains All American Pipeline from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Finally, Scotiabank assumed coverage on Plains All American Pipeline in a research report on Tuesday, September 3rd. They set an outperform rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $27.18.

NYSE PAA traded up $0.29 on Wednesday, hitting $19.43. The company’s stock had a trading volume of 3,178,817 shares, compared to its average volume of 2,799,373. Plains All American Pipeline has a 52-week low of $18.60 and a 52-week high of $25.27. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The company’s 50-day simple moving average is $20.72 and its 200 day simple moving average is $22.93. The firm has a market cap of $14.15 billion, a P/E ratio of 10.34 and a beta of 1.02.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.23. Plains All American Pipeline had a return on equity of 21.81% and a net margin of 9.48%. The business had revenue of $8.25 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same quarter last year, the business posted $0.27 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that Plains All American Pipeline will post 2.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.36 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.44 annualized dividend and a yield of 7.41%. Plains All American Pipeline’s payout ratio is 76.60%.

In related news, VP Chris Herbold sold 23,337 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $21.38, for a total transaction of $498,945.06. Following the transaction, the vice president now owns 79,564 shares of the company’s stock, valued at $1,701,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Heritage Wealth Advisors boosted its position in Plains All American Pipeline by 1.4% in the second quarter. Heritage Wealth Advisors now owns 47,700 shares of the pipeline company’s stock worth $1,161,000 after purchasing an additional 658 shares during the last quarter. Moors & Cabot Inc. increased its position in Plains All American Pipeline by 1.0% during the 2nd quarter. Moors & Cabot Inc. now owns 65,912 shares of the pipeline company’s stock valued at $1,607,000 after buying an additional 674 shares in the last quarter. Paragon Capital Management LLC increased its holdings in shares of Plains All American Pipeline by 136.0% in the 2nd quarter. Paragon Capital Management LLC now owns 1,416 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 816 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Plains All American Pipeline by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 31,731 shares of the pipeline company’s stock worth $773,000 after purchasing an additional 999 shares in the last quarter. Finally, Advisor Group Inc. increased its holdings in shares of Plains All American Pipeline by 10.1% in the 2nd quarter. Advisor Group Inc. now owns 11,868 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 1,092 shares in the last quarter. Hedge funds and other institutional investors own 50.36% of the company’s stock.

About Plains All American Pipeline

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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