Plains All American Pipeline, L.P. (NYSE:PAA) Given Average Rating of “Hold” by Analysts

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) have been given an average recommendation of “Hold” by the eighteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $34.64.

In related news, major shareholder W David Duckett sold 30,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $26.70, for a total transaction of $814,350.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Phil D. Kramer purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 14th. The shares were purchased at an average cost of $18.97 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the vice president now owns 373,624 shares in the company, valued at approximately $7,087,647.28. The disclosure for this purchase can be found here.

Several hedge funds recently modified their holdings of the company. Loge Solutions acquired a new stake in shares of Plains All American Pipeline, L.P. during the third quarter worth approximately $161,000. Eagle Asset Management increased its stake in shares of Plains All American Pipeline, L.P. by 311.7% in the third quarter. Eagle Asset Management now owns 134,136 shares of the company’s stock worth $4,074,000 after buying an additional 101,553 shares during the last quarter. Finally, Jennison Associates increased its stake in shares of Plains All American Pipeline, L.P. by 392.0% in the third quarter. Jennison Associates now owns 182,001 shares of the company’s stock worth $5,529,000 after buying an additional 145,008 shares during the last quarter.

Plains All American Pipeline, L.P. (NYSE:PAA) traded up 2.08% during trading on Monday, reaching $23.58. The company had a trading volume of 599,712 shares. Plains All American Pipeline, L.P. has a 12-month low of $17.83 and a 12-month high of $52.70. The firm’s 50 day moving average price is $22.98 and its 200 day moving average price is $32.85. The firm has a market capitalization of $9.38 billion and a PE ratio of 19.83.

Plains All American Pipeline, L.P. (NYSE:PAA) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The company earned $5.55 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Plains All American Pipeline, L.P.’s revenue was down 50.1% on a year-over-year basis. Analysts anticipate that Plains All American Pipeline, L.P. will post $1.58 earnings per share for the current year.

Several brokerages have weighed in on PAA. Oppenheimer dropped their price objective on Plains All American Pipeline, L.P. from $42.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, November 5th. Deutsche Bank dropped their price objective on Plains All American Pipeline, L.P. from $36.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, October 20th. Vetr cut Plains All American Pipeline, L.P. from a “buy” rating to a “hold” rating and set a $33.26 price objective for the company. in a report on Tuesday, November 3rd. RBC Capital dropped their price objective on Plains All American Pipeline, L.P. from $44.00 to $36.00 and set an “outperform” rating for the company in a report on Monday, November 16th. Finally, Raymond James cut Plains All American Pipeline, L.P. from an “outperform” rating to a “market perform” rating in a report on Monday.

12 Month Chart for NYSE:PAA

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NYSE:PAA), natural gas and refined products. The Company’s operational segments include Transportation, Facilities, and Supply and Logistics. The transportation segment operations consist of fee-based activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges. The facilities segment operations consist of fee-based activities associated with providing storage, terminalling and throughput services for crude oil, refined products, NGL and natural gas. The supply and logistics segment operations consist of merchant-related activities.

 

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