Several other equities research analysts have also recently issued reports on PAA. Seaport Global Securities assumed coverage on Plains All American Pipeline in a report on Friday, July 27th. They issued a buy rating and a $28.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Plains All American Pipeline from $24.00 to $26.00 and gave the stock a hold rating in a report on Wednesday, August 8th. Zacks Investment Research cut Plains All American Pipeline from a buy rating to a hold rating in a report on Wednesday, October 24th. US Capital Advisors upgraded Plains All American Pipeline from a hold rating to an overweight rating and set a $30.00 price objective on the stock in a report on Friday, August 24th. Finally, ValuEngine cut Plains All American Pipeline from a hold rating to a sell rating in a report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Plains All American Pipeline currently has an average rating of Buy and an average price target of $27.88.
PAA stock traded down $0.49 during trading on Wednesday, hitting $23.01. The stock had a trading volume of 2,036,275 shares, compared to its average volume of 2,414,837. The company has a current ratio of 0.75, a quick ratio of 0.63 and a debt-to-equity ratio of 1.05. Plains All American Pipeline has a twelve month low of $18.38 and a twelve month high of $27.70. The stock has a market cap of $17.16 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.81 and a beta of 0.91.
Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Plains All American Pipeline had a return on equity of 14.90% and a net margin of 3.92%. The company had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the firm posted $0.21 EPS. Plains All American Pipeline’s revenue was up 49.7% compared to the same quarter last year. As a group, equities analysts forecast that Plains All American Pipeline will post 1.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Tuesday, October 30th. Plains All American Pipeline’s dividend payout ratio is currently 127.66%.
In other news, VP Chris Herbold sold 10,591 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $26.35, for a total transaction of $279,072.85. Following the transaction, the vice president now directly owns 34,227 shares in the company, valued at approximately $901,881.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently modified their holdings of PAA. BP Capital Fund Advisors LLC raised its position in shares of Plains All American Pipeline by 7.5% during the 3rd quarter. BP Capital Fund Advisors LLC now owns 346,617 shares of the pipeline company’s stock valued at $8,598,000 after buying an additional 24,239 shares during the period. Pathstone Family Office LLC purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at approximately $131,000. BlackRock Inc. raised its position in shares of Plains All American Pipeline by 7.4% during the 3rd quarter. BlackRock Inc. now owns 2,849,598 shares of the pipeline company’s stock valued at $71,268,000 after buying an additional 195,398 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Plains All American Pipeline by 3.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 536,613 shares of the pipeline company’s stock valued at $13,421,000 after buying an additional 15,994 shares during the period. Finally, Hourglass Capital LLC purchased a new stake in shares of Plains All American Pipeline during the 3rd quarter valued at approximately $271,000. Institutional investors and hedge funds own 45.90% 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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