Plains All American (NYSE:PAA) Receives a Downgrade
Plains All American (NYSE:PAA) was downgraded by expert analysts at Seaport Global Securities from their past Accumulate rating to a Neutral rating in recent note finalized on Friday morning.
From a total of 24 analysts covering Plains All American Pipeline LP (NYSE:PAA) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $58 while the lowest target price is $22. The mean of all analyst targets is $34.38 with a 79.21% above today’s ($20.39) stock price. Plains All American Pipeline LP was the topic of 23 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Wunderlich maintained shares on December 14 with “Hold” rating. Credit Suisse downgraded shares to “Neutral” rating and $38 target share price in a report from a November 5. RBC Capital Markets maintained PAA stock in a recent report from November 16 with “Outperform” rating. Scotia Capital maintained the rating on August 24. Scotia Capital has a “Sector Outperform” rating and a $40 price target on shares. Finally, Stifel Nicolaus downgraded the stock to “Hold” rating in a report issued on a November 5.
Approximately 9,263 shares of stock traded hands. Plains All American Pipeline, L.P. (NYSE:PAA) has declined 57.77% since May 15, 2015 and is downtrending. It has underperformed by 53.96% the S&P500.
The overall sentiment of institutions has decreased to 0.7 in Q2 2015. Its down 0.15, from 0.85 in 2015Q2. The ratio worsened, as 92 institutions have sold all the shares of Plains All American Pipeline, L.P. that they owned while 158 funds have taken shares off the table. 35 funds have purchased shares for the first time while 141 added to their positions. These institutions now hold 233.00 million shares or 2.66% more than the 226.96 million shares they owned in 2015Q2.
The Fund Argyll Research Llc currently is holding shares equating to 18.34% of its total portfolio in Plains All American Pipeline, L.P. representing a total of 3.06 million shares. Another fund,Rr Advisors Llc, is holding a total of 2.29 million shares equating to 11.29% of their holdings. Additionally, C V Starr & Co Inc has a 70,000 share stake in Plains All American Pipeline, L.P. which represents 11.24% of their total portfolio. The Fund, Travelers Companies Inc., based out of Minnesota, has also built up a stake in the stock, which represents a total of 9.92% of their total portfolio. Finally Samson Capital Management Llc, a fund which is based in the state of Kansas reported a total holdings of 401,801 shares.
Insider activity is a very important aspect to track on any stock. Going back to May 19, 2015, shareholders of Plains All American Pipeline, L.P. have witnessed 1 buy, and a total of 0 selling transactions equating to a net activity of approximately $700,000 . Raymond John T bought 25,000 shares worth approximately $700,000. Herbold Chris sold 12,695 shares worth approximately $628,526.
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids , natural gas and refined products. The company has a market cap of $8.34 billion. The Company’s operational divisions include Transportation, Facilities, and Supply and Logistics. It has 16.85 P/E ratio. The transportation segment activities consist of fee activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.
According to Zacks Investment Research, “Plains All American Pipeline, L.P. is engaged in interstate and intrastate marketing, transportation and terminalling of crude oil.”