Plains All American Pipeline, L.P. (NYSE:PAA) shares were down 4% during mid-day trading on Wednesday after Morgan Stanley downgraded the stock from an overweight rating to an equal weight rating. Morgan Stanley now has a $25.00 price target on the stock, up from their previous price target of $20.00. Plains All American Pipeline, L.P. traded as low as $20.00 and last traded at $21.14, with a volume of 5,633,107 shares. The stock had previously closed at $20.32.

PAA has been the topic of a number of other reports. Scotiabank set a $36.00 target price on Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a report on Saturday, July 22nd. Jefferies Group LLC lowered Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $27.00 in a report on Friday, April 21st. Stifel Nicolaus lowered their target price on Plains All American Pipeline, L.P. from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, May 10th. Raymond James Financial, Inc. raised Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Monday, May 22nd. They noted that the move was a valuation call. Finally, Wolfe Research reaffirmed a “market perform” rating on shares of Plains All American Pipeline, L.P. in a report on Friday, April 21st. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.60.

Large investors have recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains All American Pipeline, L.P. by 0.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 33,341,100 shares of the pipeline company’s stock valued at $875,871,000 after buying an additional 255,459 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Plains All American Pipeline, L.P. by 4.9% in the second quarter. Alps Advisors Inc. now owns 30,612,374 shares of the pipeline company’s stock valued at $804,187,000 after buying an additional 1,416,441 shares in the last quarter. Morgan Stanley raised its stake in shares of Plains All American Pipeline, L.P. by 37.2% in the first quarter. Morgan Stanley now owns 14,058,014 shares of the pipeline company’s stock valued at $444,373,000 after buying an additional 3,808,889 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in shares of Plains All American Pipeline, L.P. by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 10,982,925 shares of the pipeline company’s stock valued at $347,165,000 after buying an additional 91,200 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Plains All American Pipeline, L.P. by 12.5% in the first quarter. UBS Group AG now owns 9,370,040 shares of the pipeline company’s stock valued at $296,187,000 after buying an additional 1,038,051 shares in the last quarter. Institutional investors and hedge funds own 44.01% of the company’s stock.

The stock has a market capitalization of $15.39 billion, a price-to-earnings ratio of 19.74 and a beta of 0.95. The stock’s 50 day moving average is $25.84 and its 200 day moving average is $28.90.

Plains All American Pipeline, L.P. (NYSE:PAA) last posted its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. Plains All American Pipeline, L.P. had a return on equity of 10.46% and a net margin of 4.42%. The company had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the business earned ($0.12) EPS. Plains All American Pipeline, L.P.’s revenue was up 22.8% on a year-over-year basis. Equities research analysts anticipate that Plains All American Pipeline, L.P. will post $1.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, July 27th. This represents a $2.20 dividend on an annualized basis and a yield of 10.83%. Plains All American Pipeline, L.P.’s dividend payout ratio (DPR) is presently 165.41%.

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About Plains All American Pipeline, L.P.

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.

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