Insider Selling: Plains All American Pipeline, L.P. Director Sells 258,098 Shares of Stock (PAA)
Plains All American Pipeline, L.P. (NYSE:PAA) Director John T. Raymond sold 258,098 shares of Plains All American Pipeline, L.P. stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $58.36, for a total transaction of $15,062,599.28. Following the completion of the sale, the director now directly owns 1,426,933 shares in the company, valued at approximately $83,275,810. The sale was disclosed in a document filed with the SEC, which is available at this link.
Plains All American Pipeline, L.P. (NYSE:PAA) traded up 0.89% on Monday, hitting $58.77. 747,328 shares of the company’s stock traded hands. 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 $58.2 and a 200-day moving average of $56.3. The company has a market cap of $21.683 billion and a price-to-earnings ratio of 27.08.
Plains All American Pipeline, L.P. (NYSE:PAA) last announced its earnings results 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. On average, analysts predict that Plains All American Pipeline, L.P. will post $2.45 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on PAA shares. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Plains All American Pipeline, L.P. in a research note on Friday. They now have a $66.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Plains All American Pipeline, L.P. from $62.00 to $63.00 in a research note on Friday, August 8th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.29.
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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