Piper Jaffray Cos. upgraded shares of Plains All American Pipeline L.P. (NYSE:PAA) from a neutral rating to an overweight rating in a report issued on Thursday morning. Piper Jaffray Cos. currently has $36.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Citigroup Inc. reaffirmed a buy rating and set a $33.50 price objective (up previously from $30.50) on shares of Plains All American Pipeline L.P. in a research report on Tuesday, August 16th. Zacks Investment Research raised shares of Plains All American Pipeline L.P. from a hold rating to a buy rating and set a $31.00 price objective for the company in a research report on Tuesday, July 5th. Deutsche Bank AG raised shares of Plains All American Pipeline L.P. from a hold rating to a buy rating and upped their price objective for the company from $31.00 to $37.00 in a research report on Monday. Wunderlich upped their price objective on shares of Plains All American Pipeline L.P. from $28.00 to $29.00 and gave the company a hold rating in a research report on Wednesday, August 31st. Finally, FBR & Co initiated coverage on shares of Plains All American Pipeline L.P. in a research report on Friday, September 9th. They set a market perform rating and a $30.00 price objective for the company. Twenty-one research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $29.88.

Plains All American Pipeline L.P. (NYSE:PAA) traded up 0.5626% during trading on Thursday, reaching $32.2102. The company had a trading volume of 582,548 shares. The stock has a market cap of $12.81 billion, a P/E ratio of 92.2928 and a beta of 0.91. The firm has a 50-day moving average price of $29.48 and a 200 day moving average price of $26.57. Plains All American Pipeline L.P. has a 12-month low of $14.82 and a 12-month high of $33.00.

Plains All American Pipeline L.P. (NYSE:PAA) last released its earnings results on Tuesday, August 2nd. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm earned $4.95 billion during the quarter, compared to analyst estimates of $5.24 billion. Plains All American Pipeline L.P. had a net margin of 3.30% and a return on equity of 10.88%. The business’s revenue was down 25.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. Equities research analysts predict that Plains All American Pipeline L.P. will post $1.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 31st will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.87%. The ex-dividend date is Thursday, October 27th. Plains All American Pipeline L.P.’s payout ratio is 800.02%.

In related news, CEO W David Duckett sold 17,333 shares of Plains All American Pipeline L.P. stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $29.76, for a total transaction of $515,830.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Vonberg sold 35,410 shares of Plains All American Pipeline L.P. stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $29.95, for a total transaction of $1,060,529.50. Following the sale, the executive vice president now directly owns 122,359 shares of the company’s stock, valued at approximately $3,664,652.05. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Energy Income Partners LLC increased its stake in shares of Plains All American Pipeline L.P. by 15.4% in the first quarter. Energy Income Partners LLC now owns 8,125,589 shares of the company’s stock valued at $170,393,000 after buying an additional 1,086,090 shares during the last quarter. Harvest Fund Advisors LLC boosted its stake in shares of Plains All American Pipeline L.P. by 1.2% in the first quarter. Harvest Fund Advisors LLC now owns 14,641,017 shares of the company’s stock valued at $307,022,000 after buying an additional 176,799 shares during the period. Capital One National Association boosted its stake in shares of Plains All American Pipeline L.P. by 0.4% in the second quarter. Capital One National Association now owns 22,914 shares of the company’s stock valued at $630,000 after buying an additional 94 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Plains All American Pipeline L.P. during the second quarter valued at $2,125,000. Finally, BB&T Securities LLC boosted its stake in shares of Plains All American Pipeline L.P. by 33.9% in the first quarter. BB&T Securities LLC now owns 14,553 shares of the company’s stock valued at $305,000 after buying an additional 3,681 shares during the period. 65.95% of the stock is owned by institutional investors and hedge funds.

About Plains All American Pipeline L.P.

Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provide logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Company operates through three segments: Transportation, Facilities, and Supply and Logistics. Its Transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

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