Mizuho Has Lowered Expectations for Plains All American Pipeline (NYSE:PAA) Stock Price

Plains All American Pipeline (NYSE:PAA) had its price target reduced by Mizuho from $21.00 to $20.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the pipeline company’s stock.

PAA has been the topic of several other research reports. Scotiabank cut their price target on Plains All American Pipeline from $21.00 to $20.00 and set a “sector outperform” rating on the stock in a report on Monday, May 12th. Morgan Stanley restated an “equal weight” rating and set a $23.00 target price on shares of Plains All American Pipeline in a research note on Friday, May 9th. Wells Fargo & Company cut shares of Plains All American Pipeline from an “overweight” rating to an “equal weight” rating in a report on Friday, May 9th. StockNews.com upgraded shares of Plains All American Pipeline from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Barclays reissued an “underweight” rating and issued a $18.00 price objective on shares of Plains All American Pipeline in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.45.

Plains All American Pipeline Stock Down 0.4%

Shares of NYSE PAA opened at $17.00 on Tuesday. The company has a market capitalization of $11.96 billion, a P/E ratio of 23.29 and a beta of 0.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.01 and a quick ratio of 0.92. The company has a 50 day simple moving average of $18.03 and a 200-day simple moving average of $18.45. Plains All American Pipeline has a 1 year low of $15.58 and a 1 year high of $21.00.

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

Plains All American Pipeline Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 1st were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, May 1st. This represents a $1.52 annualized dividend and a dividend yield of 8.94%. Plains All American Pipeline’s payout ratio is currently 163.44%.

Institutional Investors Weigh In On Plains All American Pipeline

A number of large investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in 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 acquiring an additional 1,771,452 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Plains All American Pipeline by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 21,144,687 shares of the pipeline company’s stock worth $422,894,000 after purchasing an additional 1,524,185 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Plains All American Pipeline by 7.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,463,963 shares of the pipeline company’s stock valued at $329,279,000 after purchasing an additional 1,166,369 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 4th 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. lifted its position in shares of Plains All American Pipeline by 8.7% during the fourth quarter. JPMorgan Chase & Co. now owns 7,851,712 shares of the pipeline company’s stock worth $134,107,000 after purchasing an additional 630,141 shares during the last quarter. 41.78% of the stock is 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.