Plains All American Pipeline L.P. (PAA) was Upgraded by Goldman to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 26 from a previous price target of $21 . Earlier the firm had a rating of “Sell ” on the company shares. Goldman advised their investors in a research report released on Aug 3, 2016.
Many Wall Street Analysts have commented on Plains All American Pipeline L.P.. 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 .Plains All American Pipeline L.P. was Initiated by SunTrust to “Neutral” on Jun 15, 2016. Company shares were Reiterated by RBC Capital Mkts on May 31, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .
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. closed down -0.38 points or -1.41% at $26.56 with 21,75,431 shares getting traded on Tusday. Post opening the session at $27.16, the shares hit an intraday low of $26.11 and an intraday high of $27.4 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Feb 10, 2016, Greg L Armstrong (CEO) purchased 158,066 shares at $16.06 per share price. According to the SEC, on Dec 14, 2015, Phil D Kramer (Exec. Vice President) purchased 25,000 shares at $19.01 per share price. On Nov 19, 2015, W David Duckett (Pres. of subsidiary – PMCULC) sold 30,500 shares at $26.70 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.