Plains All American Pipeline, L.P. (NYSE:PAA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Other equities analysts also recently issued research reports about the stock. Scotiabank reissued a “buy” rating and issued a $36.00 price objective on shares of Plains All American Pipeline, L.P. in a research note on Thursday, April 27th. Deutsche Bank AG reduced their price objective on shares of Plains All American Pipeline, L.P. from $39.00 to $34.00 and set a “buy” rating for the company in a research note on Tuesday, May 30th. UBS AG reissued a “buy” rating and issued a $33.00 price objective (down previously from $34.00) on shares of Plains All American Pipeline, L.P. in a research note on Wednesday, May 10th. Mizuho raised shares of Plains All American Pipeline, L.P. from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Monday, July 10th. Finally, Raymond James Financial, Inc. set a $24.00 price objective on shares of Plains All American Pipeline, L.P. and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.19.

Plains All American Pipeline, L.P. (NYSE PAA) traded up 1.7782% on Thursday, reaching $21.3836. The company had a trading volume of 862,116 shares. The company has a market capitalization of $15.50 billion, a P/E ratio of 16.4997 and a beta of 0.95. Plains All American Pipeline, L.P. has a 52 week low of $20.00 and a 52 week high of $33.95. The stock’s 50-day moving average is $25.66 and its 200-day moving average is $28.70.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.50 billion. Plains All American Pipeline, L.P. had a return on equity of 10.46% and a net margin of 4.42%. The business’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. Equities research analysts forecast that Plains All American Pipeline, L.P. will post $1.61 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in 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 during the last quarter. Bank of Montreal Can increased its position in Plains All American Pipeline, L.P. by 50.4% in the second quarter. Bank of Montreal Can now owns 7,853,634 shares of the pipeline company’s stock valued at $206,315,000 after buying an additional 2,631,118 shares during the last quarter. Bank of America Corp DE increased its position in Plains All American Pipeline, L.P. by 24.1% in the first quarter. Bank of America Corp DE now owns 8,648,721 shares of the pipeline company’s stock valued at $273,386,000 after buying an additional 1,680,480 shares during the last quarter. Alps Advisors Inc. increased its position in 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 during the last quarter. Finally, Commonwealth Bank of Australia purchased a new position in Plains All American Pipeline, L.P. during the second quarter valued at about $33,266,000. 44.01% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Plains All American Pipeline, L.P. (NYSE:PAA)

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