Plains All American Pipeline (NASDAQ:PAA) Stock Gets Downgrade from Wall Street Zen

Plains All American Pipeline (NASDAQ:PAA) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

PAA has been the topic of several other research reports. JPMorgan Chase & Co. increased their target price on shares of Plains All American Pipeline from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Mizuho increased their price objective on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. Citigroup lifted their target price on shares of Plains All American Pipeline from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, September 17th. Jefferies Financial Group raised their target price on Plains All American Pipeline from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Finally, Barclays raised their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Plains All American Pipeline currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.07.

Plains All American Pipeline Stock Performance

Shares of Plains All American Pipeline stock opened at $23.92 on Friday. Plains All American Pipeline has a twelve month low of $16.35 and a twelve month high of $26.98. The company’s fifty day moving average is $25.23 and its 200 day moving average is $22.94. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market cap of $16.88 billion, a price-to-earnings ratio of 6.63, a P/E/G ratio of 9.09 and a beta of 0.58.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.44). Plains All American Pipeline had a return on equity of 12.13% and a net margin of 5.29%. The business had revenue of $15.17 billion for the quarter. During the same quarter last year, the firm posted $0.39 EPS. Plains All American Pipeline’s quarterly revenue was up 31.1% compared to the same quarter last year. Sell-side analysts forecast that Plains All American Pipeline will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently bought and sold shares of PAA. Cornerstone Advisors Asset Management LLC raised its stake in Plains All American Pipeline by 100.0% during the 3rd quarter. Cornerstone Advisors Asset Management LLC now owns 40,000 shares of the company’s stock worth $949,000 after buying an additional 20,000 shares during the period. First Trust Capital Management L.P. increased its position in shares of Plains All American Pipeline by 126.2% during the third quarter. First Trust Capital Management L.P. now owns 24,711 shares of the company’s stock worth $581,000 after purchasing an additional 13,789 shares in the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Plains All American Pipeline in the third quarter worth about $124,000. Arrow Investment Advisors LLC raised its stake in Plains All American Pipeline by 16.6% during the 3rd quarter. Arrow Investment Advisors LLC now owns 11,217 shares of the company’s stock valued at $266,000 after purchasing an additional 1,599 shares during the period. Finally, Kestra Advisory Services LLC raised its stake in shares of Plains All American Pipeline by 3.3% during the third quarter. Kestra Advisory Services LLC now owns 154,349 shares of the company’s stock worth $3,661,000 after buying an additional 4,976 shares during the last quarter. Institutional investors and hedge funds own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a midstream energy infrastructure company that provides logistics services for crude oil and natural gas liquids (NGLs). Rather than primarily exploring for or producing hydrocarbons, the company operates assets that help gather, transport, store and deliver energy commodities from production areas to refineries, processing facilities and other markets.

The company’s operations include pipeline transportation systems, gathering networks, storage facilities, rail and truck transportation, and terminal and export infrastructure.