Plains All American Pipeline L.P. (PAA) was Resumed by Wunderlich to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 29 from a previous price target of $28 . Wunderlich advised their investors in a research report released on Aug 31, 2016.
Many Wall Street Analysts have commented on Plains All American Pipeline L.P.. Company shares were Reiterated by RBC Capital Mkts on Aug 17, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 29 from a previous price target of $22 .Company shares were Upgraded by Goldman on Aug 3, 2016 to ” Neutral”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .Company shares were Upgraded by Robert W. Baird on Jul 13, 2016 to ” Neutral”, Firm has raised the Price Target to $ 30 from a previous price target of $14 .
On the company’s financial health, Plains All American Pipeline L.P. reported $-0.12 EPS for the quarter, missing the analyst consensus estimate by $ -0.44 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.32. The company had revenue of $4950.00 million for the quarter, compared to analysts expectations of $5384.60 million. The company’s revenue was down -25.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.
Plains All American Pipeline L.P. opened for trading at $28.49 and hit $28.7 on the upside on Monday, eventually ending the session at $28.65, with a gain of 0.46% or 0.13 points. The heightened volatility saw the trading volume jump to 23,41,585 shares. Company has a market cap of $11,395 M.
In a different news, on Aug 22, 2016, W David Duckett (CEO of subsidiary – PMC) sold 17,333 shares at $29.76 per share price. According to the SEC, on Aug 22, 2016, John Vonberg (EVP – Commercial Activities) sold 35,410 shares at $29.95 per share price. On Feb 10, 2016, Greg L Armstrong (CEO) purchased 158,066 shares at $16.06 per share price, according to the Form-4 filing with the securities and exchange commission.
Plains All American Pipeline L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil natural gas liquids (NGL) natural gas and refined products. The Companys operational segments include Transportation Facilities and Supply and Logistics. The transportation segment operations consist of fee-based activities associated with transporting crude oil and NGL on pipelines gathering systems trucks and barges. The facilities segment operations consist of fee-based activities associated with providing storage terminalling and throughput services for crude oil refined products NGL and natural gas. The supply and logistics segment operations consist of merchant-related activities.