TheStreet downgraded shares of Plains All American Pipeline (NYSE:PAA) from a b- rating to a c+ rating in a report issued on Tuesday, TheStreetRatingsTable reports.
Several other research analysts have also recently issued reports on the stock. Wolfe Research upgraded shares of Plains All American Pipeline from a peer perform rating to an outperform rating in a report on Thursday, June 13th. Stifel Nicolaus set a $25.00 target price on shares of Plains All American Pipeline and gave the stock a buy rating in a report on Wednesday, August 7th. Scotia Howard Weill began coverage on shares of Plains All American Pipeline in a report on Tuesday, September 3rd. They set an outperform rating and a $28.00 target price on the stock. Piper Jaffray Companies began coverage on shares of Plains All American Pipeline in a report on Wednesday, July 17th. They set an overweight rating and a $31.00 target price on the stock. Finally, Royal Bank of Canada dropped their target price on shares of Plains All American Pipeline to $27.00 and set a sector perform rating on the stock in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $27.73.
Shares of Plains All American Pipeline stock opened at $19.25 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.00 and a quick ratio of 0.87. Plains All American Pipeline has a 1 year low of $19.08 and a 1 year high of $25.42. The firm’s 50-day moving average is $21.15 and its two-hundred day moving average is $23.17. The stock has a market cap of $14.42 billion, a price-to-earnings ratio of 10.24 and a beta of 1.02.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date is Wednesday, October 30th. Plains All American Pipeline’s dividend payout ratio is currently 76.60%.
In other news, VP Chris Herbold sold 23,337 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $21.38, for a total value of $498,945.06. Following the sale, the vice president now directly owns 79,564 shares in the company, valued at approximately $1,701,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in PAA. Interactive Financial Advisors bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at about $62,000. OppenheimerFunds Inc. boosted its holdings in shares of Plains All American Pipeline by 1.0% in the 1st quarter. OppenheimerFunds Inc. now owns 901,254 shares of the pipeline company’s stock valued at $22,090,000 after buying an additional 8,578 shares in the last quarter. GYL Financial Synergies LLC bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at about $1,225,000. Wealth Alliance Advisory Group LLC bought a new stake in shares of Plains All American Pipeline in the 1st quarter valued at about $204,000. Finally, RR Advisors LLC boosted its stake in Plains All American Pipeline by 0.9% in the 1st quarter. RR Advisors LLC now owns 2,114,000 shares of the pipeline company’s stock worth $51,809,000 after purchasing an additional 18,000 shares in the last quarter. Institutional investors and hedge funds own 50.41% of the company’s stock.
About Plains All American Pipeline
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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