Plains All American (PAA) is Downgraded by Oppenheimer to Perform

Plains All American (PAA) is Downgraded by Oppenheimer to Perform , according to the research report released to the investors. Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Plains All American Pipeline, L.P. (NYSE:PAA) ended Thursday session in red amid volatile trading. The shares closed down 0.57 points or 2.71% at $20.45 with 5,071,602 shares getting traded. Post opening the session at $20.9, the shares hit an intraday low of $20.14 and an intraday high of $21.33 and the price vacillated in this range throughout the day. The company has a market cap of $8,134 million and the number of outstanding shares has been calculated to be 397,727,620 shares. The 52-week high of Plains All American Pipeline, L.P. (NYSE:PAA) is $52.7 and the 52-week low is $17.834.

During the last several months other analysts have commented on the company rating. Brokerage firm Baird upgrades its rating on Plains All American Pipeline, L.P. (NYSE:PAA). The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on December 10, 2015.

As many as 19 brokerage firms have rated Plains All American Pipeline, L.P. (NYSE:PAA) at 1.74. Research Analysts at Zacks have ranked the company at 5, suggesting the traders with a rating of strong sell for the short term. The stock garnered a place in the hold list of 5 stock Analysts. 4 analysts suggested buying the company. 10 analysts rated the company as a strong buy.

Plains All American Pipeline, L.P. (NYSE:PAA): 17 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $37.88 in Plains All American Pipeline, L.P. (NYSE:PAA). However, the stock price could fluctuate by $ 10.61 from the estimate as it is suggested by the standard deviation reading. The higher estimate has been put at $62 price target with the lower price estimate is calculated at $25

Plains All American Pipeline, L.P. has lost 7.09% in the last five trading days and dropped 22.3% in the last 4 weeks. Plains All American Pipeline, L.P. has dropped 34.79% during the last 3-month period . Year-to-Date the stock performance stands at -57.4%.

Plains All American Pipeline, L.P. (Plains) is engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids (NGL). The term NGL includes ethane and natural gasoline products, as well as propane and butane, products, which are also commonly referred to as liquefied petroleum gas (LPG). The Company’s operations are conducted directly and indirectly through its primary operating subsidiaries. Through its general partner interest in PAA Natural Gas Storage, L.P., it also owns and operates natural gas storage facilities. The Company operates in three segments: Transportation, Facilities, and Supply and Logistics. In December 31, 2013, it completed the merger of PAA Natural Gas Storage, L.P with a wholly owned subsidiary of Plains, with the Company surviving the merger as a wholly owned subsidiary of PAA.