Plains All American Pipeline L.P. (PAA) was Upgraded by Piper Jaffray to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Oct 13, 2016.
Many Wall Street Analysts have commented on Plains All American Pipeline L.P.. Company shares were Reiterated by Scotia Howard Weil on Oct 10, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 36 from a previous price target of $28 .Plains All American Pipeline L.P. was Upgraded by Wells Fargo to ” Outperform” on Oct 5, 2016. Plains All American Pipeline L.P. was Upgraded by Morgan Stanley to ” Overweight” on Oct 4, 2016.
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 -0.39 points or -1.20% at $32.18 with 18,04,442 shares getting traded on Tuesday. Post opening the session at $32.45, the shares hit an intraday low of $31.86 and an intraday high of $32.45 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
Investors should note that on Sep 30, 2016, Plains All American Pipeline L.P. announced a cash dividend of $0.5500. The company’s management has announced Oct 27, 2016 as the ex-dividend date and fixed the record date on Oct 31, 2016. The payable date has been fixed on Nov 14, 2016.
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.