Plains All American Pipeline (NASDAQ:PAA) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Plains All American Pipeline (NASDAQ:PAA) from a buy rating to a hold rating in a report issued on Saturday morning.

Other equities research analysts have also issued reports about the company. Citigroup increased their price target on Plains All American Pipeline from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Zacks Research raised Plains All American Pipeline from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a report on Tuesday, June 16th. Scotiabank raised their target price on Plains All American Pipeline from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, The Goldman Sachs Group raised Plains All American Pipeline from a “sell” rating to a “neutral” rating and lifted their price target for the company from $18.00 to $24.00 in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has an average rating of “Hold” and an average price target of $23.54.

Plains All American Pipeline Trading Down 0.1%

Shares of Plains All American Pipeline stock opened at $25.48 on Friday. Plains All American Pipeline has a 12-month low of $15.69 and a 12-month high of $25.75. The stock has a market capitalization of $17.98 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 8.82 and a beta of 0.50. The company has a 50-day simple moving average of $23.58 and a 200 day simple moving average of $22.45. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Plains All American Pipeline (NASDAQ:PAA) last released its quarterly earnings results on Friday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter. During the same quarter in the previous year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 66.3% on a year-over-year basis. Research analysts expect that Plains All American Pipeline will post 1.77 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a $0.4175 dividend. The ex-dividend date was Friday, July 31st. This represents a $1.67 annualized dividend and a yield of 6.6%. Plains All American Pipeline’s dividend payout ratio (DPR) is currently 46.26%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its stake in shares of Plains All American Pipeline by 0.7% during the fourth quarter. Invesco Ltd. now owns 33,508,798 shares of the company’s stock worth $601,818,000 after buying an additional 228,106 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Plains All American Pipeline by 17.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,049,972 shares of the company’s stock valued at $360,097,000 after buying an additional 3,033,216 shares during the period. Morgan Stanley boosted its stake in Plains All American Pipeline by 40.2% in the fourth quarter. Morgan Stanley now owns 9,881,248 shares of the company’s stock valued at $177,467,000 after acquiring an additional 2,833,161 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in Plains All American Pipeline by 2.9% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 9,542,156 shares of the company’s stock valued at $171,377,000 after acquiring an additional 265,555 shares during the last quarter. Finally, BROOKFIELD Corp ON grew its holdings in Plains All American Pipeline by 18.9% during the 2nd quarter. BROOKFIELD Corp ON now owns 6,774,650 shares of the company’s stock worth $124,112,000 after acquiring an additional 1,076,291 shares during the period. Institutional investors own 41.78% of the company’s stock.

About Plains All American Pipeline

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.