Plains All American Pipeline (PAA) Bond Prices Rise 0.6%

An issue of Plains All American Pipeline, L.P. (NYSE:PAA) debt rose 0.6% against its face value during trading on Friday. The high-yield debt issue has a 4.9% coupon and will mature on February 15, 2045. The bonds in the issue are now trading at $94.27 and were trading at $92.83 one week ago. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

A number of equities analysts have commented on the stock. TheStreet downgraded shares of Plains All American Pipeline from a “b-” rating to a “c+” rating in a research note on Wednesday. ValuEngine upgraded shares of Plains All American Pipeline from a “sell” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks reiterated a “buy” rating and set a $29.00 price objective on shares of Plains All American Pipeline in a research note on Thursday. Wolfe Research downgraded shares of Plains All American Pipeline from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 24th. Finally, Stifel Nicolaus increased their price objective on shares of Plains All American Pipeline from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Plains All American Pipeline currently has an average rating of “Hold” and a consensus price target of $26.20.

NYSE:PAA traded up $0.43 during midday trading on Friday, reaching $27.27. 16,525,844 shares of the stock traded hands, compared to its average volume of 2,623,139. Plains All American Pipeline, L.P. has a 12-month low of $18.38 and a 12-month high of $27.70. The company has a quick ratio of 0.73, a current ratio of 0.86 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $19.47 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.17 and a beta of 0.81.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Tuesday, August 7th. The pipeline company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.15. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $8.18 billion. Plains All American Pipeline had a net margin of 2.04% and a return on equity of 12.73%. analysts expect that Plains All American Pipeline, L.P. will post 1.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 14th. Investors of record on Tuesday, July 31st will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, July 30th. This represents a $1.20 annualized dividend and a dividend yield of 4.40%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 127.66%.

Several institutional investors have recently modified their holdings of the stock. Fort Washington Investment Advisors Inc. OH grew its holdings in Plains All American Pipeline by 45.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 24,200 shares of the pipeline company’s stock worth $533,000 after acquiring an additional 7,600 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Plains All American Pipeline by 18.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 56,013 shares of the pipeline company’s stock worth $1,234,000 after acquiring an additional 8,855 shares in the last quarter. FTB Advisors Inc. grew its holdings in Plains All American Pipeline by 97.8% during the 1st quarter. FTB Advisors Inc. now owns 5,695 shares of the pipeline company’s stock worth $125,000 after acquiring an additional 2,816 shares in the last quarter. GenTrust LLC grew its holdings in Plains All American Pipeline by 31.8% during the 1st quarter. GenTrust LLC now owns 13,968 shares of the pipeline company’s stock worth $308,000 after acquiring an additional 3,368 shares in the last quarter. Finally, Thomaspartners Inc. grew its holdings in Plains All American Pipeline by 1.4% during the 1st quarter. Thomaspartners Inc. now owns 729,682 shares of the pipeline company’s stock worth $16,075,000 after acquiring an additional 9,777 shares in the last quarter. 45.56% of the stock is owned by hedge funds and other institutional investors.

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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