Citigroup Issues Pessimistic Forecast for Plains All American Pipeline (NYSE:PAA) Stock Price

Plains All American Pipeline (NYSE:PAA) had its price objective cut by Citigroup from $21.00 to $18.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the pipeline company’s stock.

Other equities research analysts have also recently issued research reports about the company. Scotiabank decreased their target price on Plains All American Pipeline from $21.00 to $20.00 and set a “sector outperform” rating for the company in a research report on Monday. Barclays reaffirmed an “underweight” rating and set a $18.00 target price on shares of Plains All American Pipeline in a research report on Friday, May 9th. UBS Group reaffirmed a “buy” rating on shares of Plains All American Pipeline in a research report on Friday, May 9th. StockNews.com cut Plains All American Pipeline from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Raymond James reiterated a “strong-buy” rating on shares of Plains All American Pipeline in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.40.

Plains All American Pipeline Stock Down 0.7%

Shares of Plains All American Pipeline stock opened at $17.28 on Tuesday. The stock has a market capitalization of $12.16 billion, a P/E ratio of 23.67 and a beta of 0.70. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $18.17 and a two-hundred day moving average price of $18.43. Plains All American Pipeline has a 12-month low of $15.58 and a 12-month high of $21.00.

Plains All American Pipeline (NYSE:PAA) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Plains All American Pipeline had a return on equity of 11.69% and a net margin of 1.54%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. Equities analysts expect that Plains All American Pipeline will post 1.52 earnings per share for the current year.

Plains All American Pipeline Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.80%. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 163.44%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Plains All American Pipeline by 6.4% in the first quarter. Invesco Ltd. now owns 29,599,382 shares of the pipeline company’s stock valued at $591,988,000 after purchasing an additional 1,771,452 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Plains All American Pipeline by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock valued at $422,894,000 after purchasing an additional 1,524,185 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Plains All American Pipeline by 8.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,297,594 shares of the pipeline company’s stock valued at $261,283,000 after purchasing an additional 1,211,286 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of Plains All American Pipeline by 0.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 13,321,966 shares of the pipeline company’s stock valued at $227,539,000 after purchasing an additional 75,509 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Plains All American Pipeline by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock valued at $134,107,000 after purchasing an additional 630,141 shares in the last quarter. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Plains All American Pipeline Company Profile

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.