Plains All American Pipeline (NYSE:PAA) Rating Lowered to Equal Weight at Barclays

Plains All American Pipeline (NYSE:PAA) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, January 17th, Marketbeat.com reports. They currently have a $26.00 price objective on the pipeline company’s stock. Barclays’ price objective would suggest a potential upside of 20.82% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Plains All American Pipeline from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Credit Suisse Group began coverage on Plains All American Pipeline in a research note on Thursday, January 4th. They set an “outperform” rating and a $25.00 price objective on the stock. Bank of America began coverage on Plains All American Pipeline in a research note on Tuesday, January 9th. They set a “neutral” rating on the stock. Seaport Global Securities began coverage on Plains All American Pipeline in a research note on Tuesday, October 10th. They set a “neutral” rating and a $23.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on Plains All American Pipeline from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Plains All American Pipeline presently has an average rating of “Hold” and a consensus price target of $26.74.

Plains All American Pipeline (NYSE PAA) traded up $0.59 during midday trading on Wednesday, reaching $21.52. The company’s stock had a trading volume of 10,652,872 shares, compared to its average volume of 3,598,846. Plains All American Pipeline has a twelve month low of $18.38 and a twelve month high of $33.01. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $15,606.07, a P/E ratio of 22.19 and a beta of 0.87.

Plains All American Pipeline (NYSE:PAA) last released its quarterly earnings results on Tuesday, February 6th. The pipeline company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.16). Plains All American Pipeline had a net margin of 3.26% and a return on equity of 9.93%. The firm had revenue of $7.61 billion for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. analysts expect that Plains All American Pipeline will post 1.34 earnings per share for the current year.

In other Plains All American Pipeline news, VP Chris Herbold sold 10,171 shares of Plains All American Pipeline stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $20.25, for a total transaction of $205,962.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of PAA. Commonwealth Bank of Australia boosted its position in Plains All American Pipeline by 455.9% during the 3rd quarter. Commonwealth Bank of Australia now owns 7,039,650 shares of the pipeline company’s stock valued at $148,562,000 after acquiring an additional 5,773,314 shares in the last quarter. Alps Advisors Inc. boosted its position in Plains All American Pipeline by 10.9% during the 3rd quarter. Alps Advisors Inc. now owns 33,958,970 shares of the pipeline company’s stock valued at $719,591,000 after acquiring an additional 3,346,596 shares in the last quarter. ING Groep NV bought a new stake in Plains All American Pipeline during the 3rd quarter valued at approximately $66,284,000. Renaissance Technologies LLC boosted its position in Plains All American Pipeline by 893.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,921,614 shares of the pipeline company’s stock valued at $50,481,000 after acquiring an additional 1,728,100 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its position in Plains All American Pipeline by 33.4% during the 3rd quarter. Atlantic Trust Group LLC now owns 6,669,879 shares of the pipeline company’s stock valued at $141,334,000 after acquiring an additional 1,668,416 shares in the last quarter. 43.20% of the stock is currently owned by institutional investors and hedge funds.

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Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

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

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