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

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

PAA has been the subject of several other research reports. Stifel Nicolaus boosted 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 report on Tuesday. Citigroup boosted 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 report on Friday, March 1st. Truist Financial boosted their price target on shares of Plains All American Pipeline from $21.00 to $23.00 and gave the stock a buy rating in a report on Tuesday, March 19th. UBS Group boosted 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 report on Friday, April 12th. Finally, The Goldman Sachs Group upped their target price on shares of Plains All American Pipeline from $14.50 to $16.00 and gave the company a sell rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $18.96.

Plains All American Pipeline Trading Up 1.4 %

Shares of PAA stock opened at $17.94 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.98. The stock has a market capitalization of $12.58 billion, a P/E ratio of 12.91 and a beta of 1.59. The company has a 50 day moving average price of $17.04 and a 200 day moving average price of $15.95. Plains All American Pipeline has a fifty-two week low of $12.07 and a fifty-two week high of $19.03.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $12.70 billion during 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 quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business 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 Announces Dividend

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

Hedge Funds Weigh In On Plains All American Pipeline

A number of large investors have recently bought and sold shares of the company. Maryland State Retirement & Pension System raised its position in Plains All American Pipeline by 1.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 389,300 shares of the pipeline company’s stock worth $6,663,000 after buying an additional 6,162 shares during the last quarter. FORVIS Wealth Advisors LLC purchased a new position in Plains All American Pipeline during the 1st quarter worth $3,227,000. Financial Sense Advisors Inc. raised its position in Plains All American Pipeline by 29.9% during the 1st quarter. Financial Sense Advisors Inc. now owns 13,884 shares of the pipeline company’s stock worth $244,000 after buying an additional 3,195 shares during the last quarter. Norden Group LLC purchased a new position in Plains All American Pipeline during the 1st quarter worth $338,000. Finally, Aviance Capital Partners LLC raised its position in Plains All American Pipeline by 3.1% during the 1st quarter. Aviance Capital Partners LLC now owns 149,671 shares of the pipeline company’s stock worth $2,628,000 after buying an additional 4,526 shares during the last quarter. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

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.