Plains All American Pipeline (PAA) Downgraded by Jefferies Group

Plains All American Pipeline (NYSE:PAA) was downgraded by equities researchers at Jefferies Group from a “buy” rating to a “hold” rating in a report released on Wednesday, The Fly reports.

PAA has been the subject of a number of other reports. SunTrust Banks upgraded Plains All American Pipeline from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Monday, April 9th. Barclays downgraded Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and set a $26.00 price objective for the company. in a report on Wednesday, January 17th. Bank of America started coverage on Plains All American Pipeline in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Morgan Stanley upgraded Plains All American Pipeline from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Tuesday, February 13th. Finally, Deutsche Bank started coverage on Plains All American Pipeline in a report on Thursday, April 19th. They issued a “buy” rating and a $29.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.88.

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Shares of NYSE:PAA opened at $24.76 on Wednesday. The firm has a market cap of $18,275.19, a PE ratio of 26.34 and a beta of 0.74. Plains All American Pipeline has a 52-week low of $18.38 and a 52-week high of $30.72. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.88 and a quick ratio of 0.73.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings data on Tuesday, February 6th. The pipeline company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.16). The company had revenue of $7.61 billion during the quarter, compared to analyst estimates of $6.37 billion. Plains All American Pipeline had a net margin of 3.26% and a return on equity of 10.01%. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. sell-side analysts anticipate that Plains All American Pipeline will post 1.33 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. bought a new stake in Plains All American Pipeline during the fourth quarter valued at $2,128,000. PVG Asset Management Corp bought a new stake in Plains All American Pipeline during the fourth quarter valued at $541,000. BB&T Securities LLC boosted its position in Plains All American Pipeline by 11.3% during the fourth quarter. BB&T Securities LLC now owns 83,351 shares of the pipeline company’s stock valued at $1,720,000 after acquiring an additional 8,464 shares during the last quarter. Cypress Wealth Advisors LLC bought a new stake in Plains All American Pipeline during the fourth quarter valued at $1,402,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Plains All American Pipeline by 53.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 90,864 shares of the pipeline company’s stock valued at $1,876,000 after acquiring an additional 31,605 shares during the last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.

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About Plains All American Pipeline

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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