Plains All American Pipeline (NYSE:PAA) Downgraded by StockNews.com

StockNews.com lowered shares of Plains All American Pipeline (NYSE:PAA) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

PAA has been the subject of a number of other research reports. Scotiabank began 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 price target for the company. The Goldman Sachs Group lifted their price target on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the stock a sell rating in a research note on Friday, April 12th. Citigroup lifted their price target on shares of Plains All American Pipeline from $16.50 to $17.50 and gave the stock a neutral rating in a research note on Friday, March 1st. UBS Group lifted their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a buy rating in a research note on Friday, April 12th. Finally, Stifel Nicolaus lifted their price target on shares of Plains All American Pipeline from $18.00 to $22.00 and gave the stock a buy rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Plains All American Pipeline presently has a consensus rating of Moderate Buy and an average target price of $18.96.

Plains All American Pipeline Trading Up 1.4 %

NYSE PAA opened at $17.94 on Tuesday. The company’s fifty day simple moving average is $17.04 and its 200-day simple moving average is $15.95. Plains All American Pipeline has a 52 week low of $12.07 and a 52 week 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 stock has a market cap of $12.58 billion, a P/E ratio of 12.91 and a beta of 1.59.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Friday, February 9th. The pipeline company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $14.30 billion. Plains All American Pipeline had a net margin of 2.39% and a return on equity of 10.48%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 earnings per share. Equities research analysts predict that Plains All American Pipeline will post 1.26 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a dividend of $0.3175 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.27 annualized dividend and a dividend yield of 7.08%. Plains All American Pipeline’s dividend payout ratio is currently 91.37%.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors have recently modified their holdings of the company. Maryland State Retirement & Pension System grew its position in shares of Plains All American Pipeline by 1.6% during the first quarter. Maryland State Retirement & Pension System now owns 389,300 shares of the pipeline company’s stock worth $6,663,000 after acquiring an additional 6,162 shares during the last quarter. FORVIS Wealth Advisors LLC bought a new position in shares of Plains All American Pipeline during the first quarter worth about $3,227,000. Financial Sense Advisors Inc. grew its position in shares of Plains All American Pipeline by 29.9% during the first quarter. Financial Sense Advisors Inc. now owns 13,884 shares of the pipeline company’s stock worth $244,000 after acquiring an additional 3,195 shares during the last quarter. Norden Group LLC bought a new position in shares of Plains All American Pipeline during the first quarter worth about $338,000. Finally, Aviance Capital Partners LLC grew its position in shares of Plains All American Pipeline by 3.1% during the first quarter. Aviance Capital Partners LLC now owns 149,671 shares of the pipeline company’s stock worth $2,628,000 after acquiring an additional 4,526 shares during the last quarter. Institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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.