PAA Natural Gas Storage Rating Lowered to Underperform at Zacks (PNG)
PAA Natural Gas Storage (NYSE:PNG) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Friday, Stock Ratings Network reports. They currently have a $21.30 price objective on the stock. Zacks‘ price target points to a potential downside of 5.12% from the stock’s previous close.
PAA Natural Gas Storage (NYSE:PNG) traded down 0.40% on Friday, hitting $22.36. 459,980 shares of the company’s stock traded hands. PAA Natural Gas Storage has a 52-week low of $17.95 and a 52-week high of $23.10. The stock’s 50-day moving average is $21.53 and its 200-day moving average is $21.38. The company has a market cap of $1.623 billion and a P/E ratio of 22.38.
PAA Natural Gas Storage (NYSE:PNG) last released its earnings data on Monday, August 5th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $115.55 million for the quarter, compared to the consensus estimate of $111.72 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts predict that PAA Natural Gas Storage will post $0.93 earnings per share for the current fiscal year.
PAA Natural Gas Storage, L.P. (NYSE:PNG) is engaged in the business of acquisition, development, operation and commercial management of natural gas storage facilities.
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