Trade Report: The Howard Weil Raises Plains All American Pipeline L.P. (PAA) Price Target to $36.00

The Howard Weil Raises Plains All American Pipeline L.P. (PAA) Price Target to $36.00

Plains All American Pipeline L.P. (NYSE:PAA) had its price target hoisted by Howard Weil from $28.00 to $36.00 in a research note published on Monday. Howard Weil currently has a sector outperform rating on the stock.

PAA has been the subject of a number of other reports. Robert W. Baird upgraded Plains All American Pipeline L.P. from an underperform rating to a neutral rating and upped their price objective for the stock from $14.00 to $30.00 in a research note on Wednesday, July 13th. Goldman Sachs Group Inc. upgraded Plains All American Pipeline L.P. from a sell rating to a neutral rating and upped their price objective for the stock from $21.00 to $26.00 in a research note on Wednesday, August 3rd. Wunderlich restated a hold rating and set a $28.00 price objective (up from $25.00) on shares of Plains All American Pipeline L.P. in a research note on Friday, July 15th. Scotiabank restated a sector perform rating on shares of Plains All American Pipeline L.P. in a research note on Friday, August 26th. Finally, Deutsche Bank AG upgraded Plains All American Pipeline L.P. from a hold rating to a buy rating and upped their price objective for the stock from $31.00 to $37.00 in a research note on Monday. Twenty-two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $29.60.

Shares of Plains All American Pipeline L.P. (NYSE:PAA) opened at 32.14 on Monday. Plains All American Pipeline L.P. has a 12-month low of $14.82 and a 12-month high of $33.00. The company has a market capitalization of $12.78 billion, a P/E ratio of 92.09 and a beta of 0.91. The company has a 50-day moving average price of $29.38 and a 200 day moving average price of $26.53.

Plains All American Pipeline L.P. (NYSE:PAA) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Plains All American Pipeline L.P. had a return on equity of 10.88% and a net margin of 3.30%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the prior year, the company earned $0.27 EPS. The business’s revenue was down 25.7% compared to the same quarter last year. On average, equities analysts anticipate that Plains All American Pipeline L.P. will post $1.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 6.85%. The ex-dividend date of this dividend is Thursday, October 27th. Plains All American Pipeline L.P.’s payout ratio is currently 800.02%.

In other news, CEO W David Duckett sold 17,333 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $29.76, for a total value of $515,830.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Vonberg sold 35,410 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $29.95, for a total value of $1,060,529.50. Following the completion of the transaction, the executive vice president now owns 122,359 shares in the company, valued at approximately $3,664,652.05. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC increased its position in Plains All American Pipeline L.P. by 2.4% in the second quarter. MCF Advisors LLC now owns 3,714 shares of the company’s stock valued at $102,000 after buying an additional 87 shares during the period. Capital One National Association increased its position in Plains All American Pipeline L.P. by 0.4% in the second quarter. Capital One National Association now owns 22,914 shares of the company’s stock valued at $630,000 after buying an additional 94 shares during the period. Coastline Trust Co increased its position in Plains All American Pipeline L.P. by 1.3% in the second quarter. Coastline Trust Co now owns 12,520 shares of the company’s stock valued at $344,000 after buying an additional 160 shares during the period. Sterling Investment Management Inc. increased its position in Plains All American Pipeline L.P. by 1.6% in the second quarter. Sterling Investment Management Inc. now owns 12,182 shares of the company’s stock valued at $1,713,000 after buying an additional 192 shares during the period. Finally, US Bancorp DE increased its position in Plains All American Pipeline L.P. by 0.3% in the second quarter. US Bancorp DE now owns 98,382 shares of the company’s stock valued at $2,705,000 after buying an additional 264 shares during the period. Institutional investors and hedge funds own 65.95% of the company’s stock.

Plains All American Pipeline L.P. Company Profile

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