Plains All American Pipeline, L.P. (NYSE:PAA) – Stock analysts at US Capital Advisors cut their FY2020 earnings per share estimates for shares of Plains All American Pipeline in a research report issued to clients and investors on Wednesday, October 17th, according to Zacks Investment Research. US Capital Advisors analyst B. Followill now expects that the pipeline company will post earnings of $1.89 per share for the year, down from their previous estimate of $2.10. US Capital Advisors has a “Overweight” rating and a $30.00 price objective on the stock.
A number of other research analysts also recently issued reports on PAA. BMO Capital Markets reiterated a “buy” rating and issued a $27.00 price target on shares of Plains All American Pipeline in a research note on Friday, July 13th. Bank of America upgraded shares of Plains All American Pipeline from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, July 18th. Seaport Global Securities began coverage on shares of Plains All American Pipeline in a research report on Friday, July 27th. They set a “buy” rating and a $28.00 price objective for the company. Zacks Investment Research downgraded shares of Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Plains All American Pipeline from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $27.88.
Plains All American Pipeline stock traded down $0.49 during trading on Friday, reaching $23.01. The stock had a trading volume of 2,036,275 shares, compared to its average volume of 2,414,837. Plains All American Pipeline has a 52-week low of $18.38 and a 52-week high of $27.70. The company has a quick ratio of 0.63, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $17.16 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.81 and a beta of 0.91.
Plains All American Pipeline (NYSE:PAA) last issued its quarterly earnings results on Tuesday, November 6th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Plains All American Pipeline had a net margin of 3.92% and a return on equity of 14.90%. The company had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 49.7% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.22%. Plains All American Pipeline’s payout ratio is 127.66%.
In other news, VP Chris Herbold sold 10,591 shares of Plains All American Pipeline stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $26.35, for a total value of $279,072.85. Following the transaction, the vice president now directly owns 34,227 shares of the company’s stock, valued at approximately $901,881.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in PAA. Centaurus Financial Inc. acquired a new position in shares of Plains All American Pipeline in the 2nd quarter valued at $109,000. Pathstone Family Office LLC acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $131,000. Exane Derivatives increased its holdings in shares of Plains All American Pipeline by 14,250.0% in the 3rd quarter. Exane Derivatives now owns 5,740 shares of the pipeline company’s stock valued at $142,000 after acquiring an additional 5,700 shares during the period. Stuart Chaussee & Associates Inc. acquired a new position in shares of Plains All American Pipeline in the 2nd quarter valued at $162,000. Finally, United Asset Strategies Inc. acquired a new position in shares of Plains All American Pipeline in the 3rd quarter valued at $200,000. 45.90% of the stock is currently owned by institutional investors and hedge funds.
Plains All American Pipeline Company Profile
Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.
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