NEW YORK (TheStreet) -- Shares of Plains All American Pipeline  (PAA)  were slumping on heavy trading volume mid-morning Thursday as the company posted weaker-than-expected revenue for the 2016 third-quarter.

After yesterday's closing bell, Houston-based Plains All American reported revenue of $5.17 billion, below analysts' estimates of $5.20 billion. 

The energy infrastructure provider said adjusted earnings were 39 cents per share, topping Wall Street's expected 28 cents per share. 

For the year-ago period, Plains All American posted adjusted earnings of 28 cents per share on revenue of $5.55 billion. 

The company expects a challenging midstream environment over the near term, Plains All American said in a statement.  

More than 2.83 million of the company's shares have traded so far today vs. the 30-day average of 2.26 million.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

The team rates Plains All American as a Hold with a ratings score of C. Among the primary strengths of the company is its solid stock price performance. At the same time, however, the team also finds weaknesses including generally higher debt management risk, weak operating cash flow and disappointing return on equity.

You can view the full analysis from the report here: PAA

PAA Chart PAA data by YCharts

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