Trading Report: The Plains All American Pipeline L.P. (PAA) Raised to “Buy” at Deutsche Bank AG

The Plains All American Pipeline L.P. (PAA) Raised to “Buy” at Deutsche Bank AG

Deutsche Bank AG upgraded shares of Plains All American Pipeline L.P. (NYSE:PAA) from a hold rating to a buy rating in a research report report published on Monday morning. The brokerage currently has $37.00 price target on the stock, up from their prior price target of $31.00.

Several other research analysts have also weighed in on the company. Citigroup Inc. reiterated a buy rating and set a $33.50 target price (up from $30.50) on shares of Plains All American Pipeline L.P. in a report on Tuesday, August 16th. Wells Fargo & Co. upgraded Plains All American Pipeline L.P. from a market perform rating to an outperform rating in a report on Wednesday, October 5th. Goldman Sachs Group Inc. upgraded Plains All American Pipeline L.P. from a sell rating to a neutral rating and lifted their target price for the stock from $21.00 to $26.00 in a report on Wednesday, August 3rd. Wunderlich lifted their target price on Plains All American Pipeline L.P. from $28.00 to $29.00 and gave the stock a hold rating in a report on Wednesday, August 31st. Finally, Zacks Investment Research lowered Plains All American Pipeline L.P. from a buy rating to a hold rating in a report on Monday, July 18th. Twenty-two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $29.60.

Plains All American Pipeline L.P. (NYSE:PAA) opened at 32.14 on Monday. The firm has a market capitalization of $12.78 billion, a price-to-earnings ratio of 92.09 and a beta of 0.91. Plains All American Pipeline L.P. has a 12 month low of $14.82 and a 12 month high of $33.00. The firm 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 earnings results on Tuesday, August 2nd. The company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $5.24 billion. Plains All American Pipeline L.P. had a return on equity of 10.88% and a net margin of 3.30%. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. On average, equities analysts forecast that Plains All American Pipeline L.P. will post $1.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date is Thursday, October 27th. Plains All American Pipeline L.P.’s dividend payout ratio (DPR) is presently 800.02%.

In other news, CEO W David Duckett sold 17,333 shares of the company’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 this hyperlink. Also, EVP John Vonberg sold 35,410 shares of the company’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 directly owns 122,359 shares in the company, valued at approximately $3,664,652.05. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Barnett & Company Inc. purchased a new position in Plains All American Pipeline L.P. during the first quarter valued at approximately $142,000. First Republic Investment Management Inc. purchased a new position in Plains All American Pipeline L.P. during the first quarter valued at approximately $1,427,000. Energy Income Partners LLC increased its position in Plains All American Pipeline L.P. by 15.4% in the first quarter. Energy Income Partners LLC now owns 8,125,589 shares of the company’s stock valued at $170,393,000 after buying an additional 1,086,090 shares during the last quarter. Mountain Lake Investment Management LLC purchased a new position in Plains All American Pipeline L.P. during the first quarter valued at approximately $3,135,000. Finally, Babson Capital Management LLC increased its position in Plains All American Pipeline L.P. by 30.4% in the first quarter. Babson Capital Management LLC now owns 212,130 shares of the company’s stock valued at $4,448,000 after buying an additional 49,500 shares during the last quarter. 65.95% of the stock is currently owned by institutional investors.

Plains All American Pipeline L.P. Company Profile

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