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

Plains All American Pipeline (NASDAQ:PAA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

PAA has been the topic of several other reports. Mizuho raised their target price on shares of Plains All American Pipeline from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Morgan Stanley upped their price target on shares of Plains All American Pipeline from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Weiss Ratings raised shares of Plains All American Pipeline from a “buy (b-)” rating to a “buy (b+)” rating in a research note on Tuesday, August 25th. Citigroup lifted their price target on shares of Plains All American Pipeline from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, UBS Group reissued a “buy” rating on shares of Plains All American Pipeline in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Plains All American Pipeline has an average rating of “Hold” and an average price target of $23.54.

Plains All American Pipeline Stock Performance

NASDAQ PAA opened at $25.48 on Friday. The business’s 50-day moving average price is $23.58 and its 200 day moving average price is $22.47. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. Plains All American Pipeline has a twelve month low of $15.69 and a twelve month high of $25.75. The company has a market capitalization of $17.98 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 8.81 and a beta of 0.50.

Plains All American Pipeline (NASDAQ:PAA) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.41 EPS 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 business had revenue of $17.69 billion during the quarter. During the same period last year, the business earned $0.36 EPS. Plains All American Pipeline’s revenue for the quarter was up 66.3% compared to the same quarter last year. On average, research analysts predict that Plains All American Pipeline will post 1.77 earnings per share for the current year.

Hedge Funds Weigh In On Plains All American Pipeline

Hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. lifted its holdings in shares of Plains All American Pipeline by 1.6% during the first quarter. D.A. Davidson & CO. now owns 28,439 shares of the company’s stock valued at $635,000 after purchasing an additional 453 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Plains All American Pipeline by 1.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 30,124 shares of the company’s stock valued at $671,000 after purchasing an additional 509 shares during the period. HB Wealth Management LLC increased its stake in Plains All American Pipeline by 3.4% in the 2nd quarter. HB Wealth Management LLC now owns 15,988 shares of the company’s stock worth $356,000 after purchasing an additional 525 shares in the last quarter. Summit Financial LLC increased its stake in Plains All American Pipeline by 1.0% in the 4th quarter. Summit Financial LLC now owns 61,265 shares of the company’s stock worth $1,100,000 after purchasing an additional 599 shares in the last quarter. Finally, Symphony Financial Services Inc. raised its holdings in Plains All American Pipeline by 1.4% during the 4th quarter. Symphony Financial Services Inc. now owns 52,496 shares of the company’s stock worth $943,000 after buying an additional 715 shares during the period. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Company Profile

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.