Plains All American Pipeline (NASDAQ:PAA) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Plains All American Pipeline from “buy” to “hold.” The broader analyst consensus is also “Hold,” with an average price target of $25.80.
• PAA shares opened at $25.25, near their 52-week high of $26.39, and have risen above both their 50-day and 200-day moving averages.
• The company reported quarterly earnings of $0.41 per share, below the $0.50 consensus estimate, although revenue increased 66.3% year over year to $17.69 billion.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Mizuho lifted their target price on shares of Plains All American Pipeline from $27.00 to $30.00 and gave the stock an "outperform" rating in a research note on Monday, September 21st. UBS Group boosted their target price on shares of Plains All American Pipeline from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, October 9th. Weiss Ratings cut shares of Plains All American Pipeline from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday. Raymond James Financial restated a "strong-buy" rating and set a $27.00 price target on shares of Plains All American Pipeline in a report on Monday, September 21st. Finally, Barclays lifted their price target on shares of Plains All American Pipeline from $23.00 to $24.00 and gave the company an "underweight" rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $25.80.

Plains All American Pipeline Stock Up 0.4%

Shares of PAA opened at $25.25 on Friday. Plains All American Pipeline has a 52-week low of $15.79 and a 52-week high of $26.39. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $24.77 and a two-hundred day simple moving average of $23.39. The company has a market capitalization of $17.82 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 8.98 and a beta of 0.57.

Plains All American Pipeline (NASDAQ:PAA - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.09). Plains All American Pipeline had a net margin of 5.29% and a return on equity of 12.13%. The firm had revenue of $17.69 billion for the quarter. During the same quarter last year, the firm posted $0.36 earnings per share. The company's revenue was up 66.3% on a year-over-year basis. As a group, equities analysts forecast that Plains All American Pipeline will post 1.72 EPS for the current year.

Institutional Trading of Plains All American Pipeline

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Life Planners purchased a new position in Plains All American Pipeline during the first quarter worth about $27,000. Allied Private Wealth LLC acquired a new stake in shares of Plains All American Pipeline during the second quarter valued at about $33,000. Bullseye Investment Management LLC purchased a new stake in shares of Plains All American Pipeline in the 2nd quarter valued at approximately $44,000. Scarborough Advisors LLC purchased a new stake in shares of Plains All American Pipeline in the 1st quarter valued at approximately $80,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Plains All American Pipeline by 1,164.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,794 shares of the company's stock valued at $85,000 after acquiring an additional 3,494 shares during the period. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P. is a publicly traded master limited partnership that provides midstream energy infrastructure and logistics services. The company primarily transports, stores and handles crude oil and natural gas liquids (NGLs) for producers, refiners, exporters and other energy customers.

Its operations include pipeline transportation, gathering systems, storage terminals, rail and truck facilities, and other supply-chain assets. Plains also provides terminalling, inventory management and related logistics services that connect production areas with refineries, processing facilities and export markets.

Plains All American serves key producing regions in the United States and Canada, with a significant presence in the Permian Basin and other North American oil and NGL markets.

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