Morgan Stanley Lowers Plains All American Pipeline (NYSE:PAA) to Equal Weight

Morgan Stanley lowered shares of Plains All American Pipeline (NYSE:PAA - Free Report) from an overweight rating to an equal weight rating in a research note issued to investors on Friday morning, Marketbeat.com reports. Morgan Stanley 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 a number of other reports. UBS Group boosted their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, July 2nd. Bank of America started coverage on shares of Plains All American Pipeline in a research note on Thursday, October 17th. They issued a "neutral" rating and a $18.00 target price on the stock. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $19.00 price target on shares of Plains All American Pipeline in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $19.82.

Plains All American Pipeline Stock Down 1.0 %

NYSE PAA traded down $0.17 on Friday, reaching $16.93. The company had a trading volume of 2,708,681 shares, compared to its average volume of 2,677,887. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.64. The company's fifty day moving average is $17.56 and its 200 day moving average is $17.63. Plains All American Pipeline has a 52-week low of $14.46 and a 52-week high of $19.17. The stock has a market capitalization of $11.87 billion, a P/E ratio of 15.45 and a beta of 1.60.

Plains All American Pipeline (NYSE:PAA - Get Free Report) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $12.93 billion for the quarter, compared to analysts' expectations of $12.32 billion. Plains All American Pipeline had a net margin of 2.07% and a return on equity of 11.52%. The company's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Sell-side analysts anticipate that Plains All American Pipeline will post 1.31 earnings per share for the current fiscal year.

Plains All American Pipeline Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.3175 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.27 annualized dividend and a dividend yield of 7.50%. Plains All American Pipeline's dividend payout ratio is currently 115.45%.

Institutional Trading of Plains All American Pipeline

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Eagle Bay Advisors LLC purchased a new position in Plains All American Pipeline during the 1st quarter valued at about $26,000. Future Financial Wealth Managment LLC purchased a new position in Plains All American Pipeline during the first quarter valued at approximately $28,000. ORG Partners LLC increased its holdings in Plains All American Pipeline by 78.5% during the 2nd quarter. ORG Partners LLC now owns 1,660 shares of the pipeline company's stock worth $30,000 after acquiring an additional 730 shares during the period. Evermay Wealth Management LLC purchased a new stake in Plains All American Pipeline in the 1st quarter worth approximately $35,000. Finally, Sunbelt Securities Inc. boosted its holdings in Plains All American Pipeline by 53.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,795 shares of the pipeline company's stock valued at $68,000 after purchasing an additional 1,318 shares during the period. 41.78% of the stock is currently owned by institutional investors.

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.