Plains All American Pipeline (NYSE:PAA) Rating Lowered to Equal Weight at Morgan Stanley

Morgan Stanley cut shares of Plains All American Pipeline (NYSE:PAA) from an overweight rating to an equal weight rating in a research note published on Friday morning, MarketBeat.com reports. The firm currently has $19.00 price target on the pipeline company’s stock, down from their previous price target of $22.00.

PAA has been the topic of several other reports. Bank of America initiated coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They set a “neutral” rating and a $18.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 target price on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. Finally, UBS Group boosted their target price on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.82.

Plains All American Pipeline Price Performance

Shares of NYSE:PAA opened at $16.76 on Friday. Plains All American Pipeline has a one year low of $14.46 and a one year high of $19.17. The stock has a fifty day moving average of $17.53 and a 200-day moving average of $17.60. The company has a market capitalization of $11.75 billion, a PE ratio of 15.24 and a beta of 1.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.90 and a current ratio of 1.00.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company had revenue of $12.93 billion for the quarter, compared to the consensus estimate of $12.32 billion. During the same period in the previous year, the business earned $0.25 EPS. The company’s revenue was up 11.5% on a year-over-year basis. As a group, equities analysts anticipate that Plains All American Pipeline will post 1.31 EPS for the current fiscal year.

Plains All American Pipeline Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date is Thursday, October 31st. Plains All American Pipeline’s dividend payout ratio is presently 115.45%.

Institutional Investors Weigh In On Plains All American Pipeline

Large investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC bought a new stake in Plains All American Pipeline in the first quarter worth $26,000. Future Financial Wealth Managment LLC bought a new stake in Plains All American Pipeline in the first quarter worth $28,000. ORG Partners LLC boosted its holdings in Plains All American Pipeline by 78.5% in the second quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 730 shares in the last quarter. Evermay Wealth Management LLC bought a new stake in Plains All American Pipeline in the first quarter worth $35,000. Finally, Sunbelt Securities Inc. boosted its holdings in Plains All American Pipeline by 53.2% in the second quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company’s stock worth $68,000 after purchasing an additional 1,318 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.