Plains All American Pipeline, L.P. Receives “Outperform” Rating from Credit Suisse (PAA)
Plains All American Pipeline, L.P. (NYSE:PAA)‘s stock had its “outperform” rating restated by equities researchers at Credit Suisse in a research report issued on Friday. They currently have a $66.00 target price on the stock, up from their previous target price of $65.00. Credit Suisse’s target price would suggest a potential upside of 16.75% from the company’s current price.
A number of other firms have also recently commented on PAA. Analysts at Zacks reiterated a “neutral” rating on shares of Plains All American Pipeline, L.P. in a research note on Friday. They now have a $59.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, July 23rd. They now have a $66.00 price target on the stock, up previously from $60.00. Finally, analysts at Oppenheimer raised their price target on shares of Plains All American Pipeline, L.P. from $65.00 to $67.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $62.23.
Plains All American Pipeline, L.P. (NYSE:PAA) remained flat at $56.53 during trading on Friday. The stock had a trading volume of 575,253 shares. Plains All American Pipeline, L.P. has a 52 week low of $47.26 and a 52 week high of $60.60. The stock has a 50-day moving average of $58. and a 200-day moving average of $55.79. The company has a market cap of $20.633 billion and a P/E ratio of 26.26. Plains All American Pipeline, L.P. also was the recipient of unusually large options trading on Tuesday. Traders acquired 263 put options on the company. This represents an increase of approximately 293% compared to the average volume of 67 put options.
Plains All American Pipeline, L.P. (NYSE:PAA) last released its earnings data on Wednesday, August 6th. The company reported $0.50 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.50. The company had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.53 billion. During the same quarter last year, the company posted $0.56 earnings per share. Plains All American Pipeline, L.P.’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that Plains All American Pipeline, L.P. will post $2.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Friday, August 1st will be paid a dividend of $0.645 per share. This represents a $2.58 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Wednesday, July 30th. This is an increase from Plains All American Pipeline, L.P.’s previous quarterly dividend of $0.63.
Plains All American Pipeline, L.P. (NYSE:PAA) is engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids (NGL).
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