Plains All American Pipeline L.P. (NYSE:PAA)’s share price dropped 1.9% on Monday . The company traded as low as $26.80 and last traded at $26.81, with a volume of 1,756,743 shares traded. The stock had previously closed at $27.32.

PAA has been the topic of a number of recent analyst reports. Vetr raised shares of Plains All American Pipeline L.P. from a “strong sell” rating to a “sell” rating and set a $19.44 price target on the stock in a research note on Monday, March 28th. BMO Capital Markets initiated coverage on shares of Plains All American Pipeline L.P. in a research note on Tuesday, April 19th. They set a “market perform” rating and a $25.00 price target on the stock. Simmons initiated coverage on shares of Plains All American Pipeline L.P. in a research note on Friday, April 1st. They set a “neutral” rating and a $26.00 price target on the stock. Wunderlich lowered their price target on shares of Plains All American Pipeline L.P. from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Friday, April 8th. Finally, Barclays PLC initiated coverage on shares of Plains All American Pipeline L.P. in a research note on Wednesday, April 13th. They set an “equal weight” rating and a $23.00 price target on the stock. Two analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $27.89.

The company’s 50-day moving average is $26.07 and its 200-day moving average is $22.87. The firm has a market cap of $10.66 billion and a PE ratio of 54.03.

Plains All American Pipeline L.P. (NYSE:PAA) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $6.79 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The firm’s quarterly revenue was down 30.8% compared to the same quarter last year. Equities research analysts expect that Plains All American Pipeline L.P. will post $1.22 EPS for the current fiscal year.

Other hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in Plains All American Pipeline L.P. by 8.7% in the fourth quarter. Morgan Stanley now owns 6,662,143 shares of the company’s stock worth $153,897,000 after buying an additional 531,636 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in Plains All American Pipeline L.P. by 10.3% in the fourth quarter. Atlantic Trust Group LLC now owns 5,102,970 shares of the company’s stock worth $117,879,000 after buying an additional 477,153 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Plains All American Pipeline L.P. by 36.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,542,866 shares of the company’s stock worth $81,840,000 after buying an additional 947,544 shares in the last quarter. RR Advisors LLC boosted its stake in Plains All American Pipeline L.P. by 37.5% in the fourth quarter. RR Advisors LLC now owns 3,152,000 shares of the company’s stock worth $72,806,000 after buying an additional 859,000 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Plains All American Pipeline L.P. by 361.1% in the fourth quarter. Bank of Montreal Can now owns 997,295 shares of the company’s stock worth $23,038,000 after buying an additional 781,019 shares in the last quarter.

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. Its Transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

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