Plains All American Pipeline, L.P. (PAA) Earns “Hold” Rating from SunTrust Banks, Inc.

SunTrust Banks, Inc. reissued their hold rating on shares of Plains All American Pipeline, L.P. (NYSE:PAA) in a research note published on Friday. They currently have a $24.00 price objective on the pipeline company’s stock.

Other research analysts have also issued reports about the stock. Raymond James Financial, Inc. set a $24.00 price target on shares of Plains All American Pipeline, L.P. and gave the company a buy rating in a research report on Wednesday, August 9th. Barclays PLC upgraded shares of Plains All American Pipeline, L.P. from an equal weight rating to an overweight rating and set a $31.00 price target for the company in a research report on Tuesday, July 18th. Jefferies Group LLC restated a hold rating and set a $28.00 price target (up from $27.00) on shares of Plains All American Pipeline, L.P. in a research report on Friday, July 21st. BMO Capital Markets reduced their price target on shares of Plains All American Pipeline, L.P. from $31.00 to $22.00 and set a market perform rating for the company in a research report on Friday, August 18th. Finally, Robert W. Baird lowered shares of Plains All American Pipeline, L.P. from an outperform rating to a neutral rating and reduced their price target for the company from $36.00 to $24.00 in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Plains All American Pipeline, L.P. has an average rating of Hold and a consensus target price of $27.52.

Plains All American Pipeline, L.P. (NYSE:PAA) opened at $21.09 on Friday. The firm has a market cap of $15,294.24, a P/E ratio of 25.41 and a beta of 1.01. The company has a quick ratio of 0.69, a current ratio of 0.94 and a debt-to-equity ratio of 1.12. Plains All American Pipeline, L.P. has a one year low of $18.76 and a one year high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its quarterly earnings results on Monday, November 6th. The pipeline company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Plains All American Pipeline, L.P. had a net margin of 3.22% and a return on equity of 9.15%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. equities analysts predict that Plains All American Pipeline, L.P. will post 1.14 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Monday, October 30th. Plains All American Pipeline, L.P.’s payout ratio is 239.13%.

Hedge funds have recently added to or reduced their stakes in the business. BB&T Investment Services Inc. purchased a new position in shares of Plains All American Pipeline, L.P. in the second quarter valued at about $108,000. IHT Wealth Management LLC purchased a new position in shares of Plains All American Pipeline, L.P. in the second quarter valued at about $118,000. Advisory Services Network LLC increased its position in shares of Plains All American Pipeline, L.P. by 5.1% in the second quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock valued at $121,000 after acquiring an additional 223 shares during the period. Pathstone Family Office LLC purchased a new position in shares of Plains All American Pipeline, L.P. in the second quarter valued at about $127,000. Finally, Spectrum Management Group Inc. purchased a new position in shares of Plains All American Pipeline, L.P. in the third quarter valued at about $142,000. Hedge funds and other institutional investors own 41.46% 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.

Analyst Recommendations for Plains All American Pipeline, L.P. (NYSE:PAA)

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