Plains All American Pipeline (NYSE:PAA) Rating Increased to B- at TheStreet

TheStreet upgraded shares of Plains All American Pipeline (NYSE:PAAGet Rating) from a c rating to a b- rating in a report issued on Thursday morning, TheStreetRatingsTable reports.

Several other equities analysts have also commented on the company. Bank of America raised Plains All American Pipeline from an underperform rating to a neutral rating and set a $12.00 price target on the stock in a research report on Tuesday, July 19th. Mizuho boosted their price target on Plains All American Pipeline from $13.00 to $14.00 in a research report on Wednesday, May 11th. Morgan Stanley boosted their price target on Plains All American Pipeline from $14.00 to $15.00 and gave the stock an overweight rating in a research report on Tuesday, April 26th. TD Securities boosted their price target on Plains All American Pipeline from $14.00 to $14.50 and gave the stock a buy rating in a research report on Thursday. Finally, Barclays cut their target price on Plains All American Pipeline from $13.00 to $12.00 and set an equal weight rating on the stock in a research report on Wednesday, July 20th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline currently has a consensus rating of Moderate Buy and a consensus price target of $14.18.

Plains All American Pipeline Trading Up 1.7 %

Plains All American Pipeline stock opened at $11.20 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.88 and a debt-to-equity ratio of 0.76. The stock has a market cap of $7.90 billion, a PE ratio of 13.66 and a beta of 1.79. The stock has a 50-day moving average price of $10.60 and a 200 day moving average price of $10.75. Plains All American Pipeline has a 52 week low of $8.64 and a 52 week high of $12.10.

Plains All American Pipeline (NYSE:PAAGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.77% and a net margin of 1.36%. During the same period in the previous year, the business posted $0.23 earnings per share. Equities research analysts predict that Plains All American Pipeline will post 1.11 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be paid a dividend of $0.2175 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.87 dividend on an annualized basis and a yield of 7.77%. Plains All American Pipeline’s payout ratio is currently 106.10%.

Insider Buying and Selling

In related news, Director Kevin S. Mccarthy acquired 200,000 shares of the stock in a transaction that occurred on Thursday, June 23rd. The stock was purchased at an average cost of $9.81 per share, for a total transaction of $1,962,000.00. Following the purchase, the director now directly owns 200,000 shares in the company, valued at $1,962,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. grew its stake in shares of Plains All American Pipeline by 11.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 179,339 shares of the pipeline company’s stock worth $1,676,000 after purchasing an additional 18,781 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Plains All American Pipeline by 25.6% in the fourth quarter. Invesco Ltd. now owns 12,534,975 shares of the pipeline company’s stock valued at $117,077,000 after buying an additional 2,556,325 shares during the period. Securian Asset Management Inc. lifted its holdings in shares of Plains All American Pipeline by 7.5% in the fourth quarter. Securian Asset Management Inc. now owns 540,798 shares of the pipeline company’s stock valued at $5,051,000 after buying an additional 37,600 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $95,000. Finally, Roosevelt Investment Group LLC lifted its holdings in shares of Plains All American Pipeline by 57.4% in the fourth quarter. Roosevelt Investment Group LLC now owns 19,200 shares of the pipeline company’s stock valued at $179,000 after buying an additional 7,000 shares during the period. Institutional investors own 45.58% of the company’s stock.

About Plains All American Pipeline

(Get Rating)

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminalling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates in two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and at times on barges or railcars.

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

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