Plains All American Pipeline (PAA) Earns “Buy” Rating from SunTrust Banks
SunTrust Banks reissued their buy rating on shares of Plains All American Pipeline (NYSE:PAA) in a research report sent to investors on Thursday morning. The firm currently has a $29.00 price target on the pipeline company’s stock.
Other equities research analysts have also recently issued reports about the company. Deutsche Bank initiated coverage on Plains All American Pipeline in a research note on Thursday, April 19th. They issued a buy rating and a $29.00 target price on the stock. Wolfe Research cut Plains All American Pipeline from a market perform rating to an underperform rating in a research note on Tuesday, April 24th. Jefferies Financial Group cut Plains All American Pipeline from a buy rating to a hold rating in a research note on Wednesday, April 25th. Stifel Nicolaus lowered Plains All American Pipeline from a buy rating to a hold rating and set a $24.00 price target on the stock. in a report on Wednesday, May 9th. Finally, US Capital Advisors lowered Plains All American Pipeline from an overweight rating to a hold rating in a report on Wednesday, May 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $26.20.
Shares of Plains All American Pipeline stock traded up $0.43 on Thursday, hitting $27.27. 16,525,844 shares of the company’s stock traded hands, compared to its average volume of 2,623,139. The stock has a market cap of $19.47 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 2.17 and a beta of 0.81. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 1.03. Plains All American Pipeline has a 52-week low of $18.38 and a 52-week high of $27.70.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 14th. Investors of record on Tuesday, July 31st will be paid a $0.30 dividend. The ex-dividend date is Monday, July 30th. This represents a $1.20 dividend on an annualized basis and a yield of 4.40%. Plains All American Pipeline’s dividend payout ratio is currently 127.66%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Plains All American Pipeline during the 1st quarter worth about $108,000. FTB Advisors Inc. lifted its holdings in shares of 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 valued at $125,000 after buying an additional 2,816 shares during the last quarter. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Plains All American Pipeline during the 2nd quarter valued at about $162,000. American National Registered Investment Advisor Inc. acquired a new stake in shares of Plains All American Pipeline during the 1st quarter valued at about $200,000. Finally, Penn Davis Mcfarland Inc. acquired a new stake in shares of Plains All American Pipeline during the 2nd quarter valued at about $201,000. 45.56% of the stock is currently 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.
Further Reading: Market Capitalization
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