Jefferies Group LLC upgraded shares of Plains All American Pipeline, L.P. (NYSE:PAA) from a hold rating to a buy rating in a research note released on Monday morning, MarketBeat.com reports. They currently have $23.00 price target on the pipeline company’s stock, down from their previous price target of $28.00. Jefferies Group also issued estimates for Plains All American Pipeline, L.P.’s Q3 2017 earnings at $0.19 EPS, Q4 2017 earnings at $0.42 EPS, FY2018 earnings at $1.49 EPS, FY2019 earnings at $1.74 EPS, FY2020 earnings at $1.94 EPS and FY2021 earnings at $2.09 EPS.
Several other research analysts also recently weighed in on the stock. Deutsche Bank AG dropped their target price 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 report on Tuesday, May 30th. UBS AG reaffirmed a buy rating and issued a $33.00 target price (down previously from $34.00) on shares of Plains All American Pipeline, L.P. in a report 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 target price for the company in a report on Monday, July 10th. Scotiabank reaffirmed a buy rating and issued a $36.00 target price on shares of Plains All American Pipeline, L.P. in a report on Thursday, April 27th. Finally, Raymond James Financial, Inc. set a $24.00 target price on shares of Plains All American Pipeline, L.P. and gave the stock a buy rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $29.59.
Plains All American Pipeline, L.P. (NYSE:PAA) opened at 19.92 on Monday. The stock’s 50 day moving average is $24.19 and its 200 day moving average is $27.85. Plains All American Pipeline, L.P. has a one year low of $18.82 and a one year high of $33.95. The firm has a market cap of $14.44 billion, a P/E ratio of 15.37 and a beta of 0.95.
Plains All American Pipeline, L.P. (NYSE:PAA) last issued its quarterly earnings data on Monday, August 7th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.05. Plains All American Pipeline, L.P. had a net margin of 4.42% and a return on equity of 10.14%. The business had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the firm earned ($0.12) EPS. The company’s revenue was up 22.8% on a year-over-year basis. On average, equities research analysts expect that Plains All American Pipeline, L.P. will post $1.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 11.04%. The ex-dividend date of this dividend was Thursday, July 27th. Plains All American Pipeline, L.P.’s dividend payout ratio is 165.41%.
Several hedge funds have recently made changes to their positions in the stock. Seatown Holdings Pte. Ltd. acquired a new stake in shares of Plains All American Pipeline, L.P. during the first quarter valued at about $20,863,000. Virtu Financial LLC boosted its stake in shares of Plains All American Pipeline, L.P. by 79.5% in the first quarter. Virtu Financial LLC now owns 82,026 shares of the pipeline company’s stock valued at $2,593,000 after buying an additional 36,335 shares in the last quarter. Conning Inc. boosted its stake in shares of Plains All American Pipeline, L.P. by 8.7% in the first quarter. Conning Inc. now owns 418,514 shares of the pipeline company’s stock valued at $13,229,000 after buying an additional 33,621 shares in the last quarter. Welch & Forbes LLC boosted its stake in shares of Plains All American Pipeline, L.P. by 11.6% in the first quarter. Welch & Forbes LLC now owns 7,916 shares of the pipeline company’s stock valued at $250,000 after buying an additional 825 shares in the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of Plains All American Pipeline, L.P. by 27.6% in the first quarter. Miller Howard Investments Inc. NY now owns 3,104,026 shares of the pipeline company’s stock valued at $98,118,000 after buying an additional 671,510 shares in the last quarter. Hedge funds and other institutional investors own 43.94% of the company’s stock.
Plains All American Pipeline, L.P. Company Profile
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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