Credit Suisse Group began coverage on shares of Plains All American Pipeline (NYSE:PAA) in a research note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating on the pipeline company’s stock.
Several other brokerages have also weighed in on PAA. BMO Capital Markets set a $25.00 price objective on Plains All American Pipeline and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Robert W. Baird set a $20.00 price objective on Plains All American Pipeline and gave the stock a “hold” rating in a research report on Thursday, October 12th. Stifel Nicolaus upped their price target on Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. SunTrust Banks restated a “hold” rating and set a $24.00 price target on shares of Plains All American Pipeline in a research note on Friday, November 10th. Finally, Zacks Investment Research cut Plains All American Pipeline from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $26.63.
Shares of Plains All American Pipeline (NYSE PAA) traded up $0.08 during trading on Thursday, reaching $22.35. The company had a trading volume of 2,796,300 shares, compared to its average volume of 3,850,000. The stock has a market capitalization of $16,210.00, a price-to-earnings ratio of 25.99 and a beta of 1.00. Plains All American Pipeline has a 52 week low of $18.38 and a 52 week high of $33.24. The company has a quick ratio of 0.78, a current ratio of 1.00 and a debt-to-equity ratio of 1.20.
Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings data on Monday, November 6th. The pipeline company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Plains All American Pipeline had a return on equity of 9.06% and a net margin of 3.22%. The company’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share. equities research analysts predict that Plains All American Pipeline will post 1.14 earnings per share for the current fiscal year.
In other Plains All American Pipeline news, VP Chris Herbold sold 10,171 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $20.25, for a total value of $205,962.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC acquired a new stake in Plains All American Pipeline in the second quarter valued at $118,000. BB&T Investment Services Inc. purchased a new position in shares of Plains All American Pipeline during the second quarter worth about $108,000. Advisory Services Network LLC grew its holdings in shares of Plains All American Pipeline by 5.1% during the second quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock worth $121,000 after purchasing an additional 223 shares during the last quarter. Pathstone Family Office LLC purchased a new position in shares of Plains All American Pipeline during the second quarter worth about $127,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Plains All American Pipeline by 14.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,462 shares of the pipeline company’s stock worth $170,000 after purchasing an additional 806 shares during the last quarter. Institutional investors own 43.41% of the company’s stock.
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Plains All American Pipeline Company Profile
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.