Raymond James Lowers Plains All American Pipeline (NYSE:PAA) Price Target to $9.00

Plains All American Pipeline (NYSE:PAA) had its price objective dropped by equities researchers at Raymond James from $11.00 to $9.00 in a research report issued on Tuesday, AnalystRatings.net reports. The brokerage currently has an “outperform” rating on the pipeline company’s stock. Raymond James’ price objective would indicate a potential upside of 38.67% from the company’s previous close.

Other equities analysts have also issued reports about the company. BofA Securities raised Plains All American Pipeline from an “underperform” rating to a “buy” rating in a research note on Tuesday, July 21st. ValuEngine downgraded Plains All American Pipeline from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. TD Securities initiated coverage on Plains All American Pipeline in a research report on Tuesday, June 30th. They set a “buy” rating and a $17.00 price objective for the company. Bank of America upgraded Plains All American Pipeline from an “underperform” rating to a “buy” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley upgraded Plains All American Pipeline from an “underweight” rating to an “overweight” rating and set a $8.00 target price for the company in a report on Friday, September 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $12.80.

Shares of NYSE PAA opened at $6.49 on Tuesday. The stock’s 50 day moving average price is $6.45 and its two-hundred day moving average price is $7.82. Plains All American Pipeline has a 52-week low of $3.00 and a 52-week high of $19.67. The stock has a market capitalization of $4.73 billion, a P/E ratio of -2.20 and a beta of 2.19. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Plains All American Pipeline (NYSE:PAA) last posted its earnings results on Tuesday, August 4th. The pipeline company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.03). Plains All American Pipeline had a negative net margin of 7.01% and a positive return on equity of 17.85%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same period last year, the company posted $0.67 earnings per share. The firm’s revenue for the quarter was down 60.9% compared to the same quarter last year. On average, analysts anticipate that Plains All American Pipeline will post 1.45 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Keebeck Wealth Management LLC acquired a new stake in Plains All American Pipeline during the second quarter worth about $26,000. Interactive Financial Advisors acquired a new stake in Plains All American Pipeline during the second quarter worth about $36,000. Adirondack Trust Co. acquired a new stake in Plains All American Pipeline during the second quarter worth about $37,000. CWM LLC grew its position in Plains All American Pipeline by 91.0% during the second quarter. CWM LLC now owns 5,225 shares of the pipeline company’s stock worth $46,000 after buying an additional 2,490 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Plains All American Pipeline by 46.8% during the second quarter. Fifth Third Bancorp now owns 5,991 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 1,911 shares during the period. 46.81% 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 through three segments: Transportation, Facilities, and Supply and Logistics.

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Analyst Recommendations for Plains All American Pipeline (NYSE:PAA)

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