Scotiabank reaffirmed their sector outperform rating on shares of Plains All American Pipeline L.P. (NYSE:PAA) in a report issued on Monday. The firm currently has a $36.00 target price on the stock, up from their previous target price of $28.00.

PAA has been the topic of a number of other research reports. Wells Fargo & Co. upgraded shares of Plains All American Pipeline L.P. from a market perform rating to an outperform rating in a research note on Wednesday, October 5th. Wunderlich lifted 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 note on Wednesday, August 31st. Morgan Stanley upgraded shares of Plains All American Pipeline L.P. from an equal weight rating to an overweight rating and lifted their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, October 4th. Zacks Investment Research upgraded shares of Plains All American Pipeline L.P. from a hold rating to a buy rating and set a $31.00 price objective on the stock in a research note on Tuesday, July 5th. Finally, Credit Suisse Group AG reiterated a neutral rating and set a $32.00 price objective (up previously from $26.00) on shares of Plains All American Pipeline L.P. in a research note on Friday, July 15th. Twenty-two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Plains All American Pipeline L.P. currently has an average rating of Hold and a consensus price target of $29.60.

Analyst Recommendations for Plains All American Pipeline L.P. (NYSE:PAA)

Shares of Plains All American Pipeline L.P. (NYSE:PAA) traded down 1.50% during mid-day trading on Monday, reaching $32.08. 230,553 shares of the company were exchanged. The firm has a market capitalization of $12.76 billion, a price-to-earnings ratio of 91.92 and a beta of 0.91. The company’s 50-day moving average is $29.21 and its 200 day moving average is $26.45. 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 posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $4.95 billion for 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 quarterly revenue was down 25.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Analysts predict that Plains All American Pipeline L.P. will post $1.03 EPS for the current year.

In related news, EVP John Vonberg sold 35,410 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $29.95, for a total value of $1,060,529.50. Following the completion of the sale, the executive vice president now owns 122,359 shares of the company’s stock, valued at approximately $3,664,652.05. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO W David Duckett sold 17,333 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $29.76, for a total value of $515,830.08. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in PAA. Harvest Fund Advisors LLC boosted its stake in shares of Plains All American Pipeline L.P. by 6.2% in the second quarter. Harvest Fund Advisors LLC now owns 15,542,217 shares of the company’s stock valued at $427,256,000 after buying an additional 901,200 shares during the last quarter. Center Coast Capital Advisors LP boosted its stake in shares of Plains All American Pipeline L.P. by 2.5% in the second quarter. Center Coast Capital Advisors LP now owns 10,333,567 shares of the company’s stock valued at $284,070,000 after buying an additional 250,733 shares during the last quarter. Energy Income Partners LLC boosted 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. ING Groep NV boosted its stake in shares of Plains All American Pipeline L.P. by 151.0% in the first quarter. ING Groep NV now owns 6,804,128 shares of the company’s stock valued at $142,410,000 after buying an additional 4,093,128 shares during the last quarter. Finally, Chickasaw Capital Management LLC boosted its stake in shares of Plains All American Pipeline L.P. by 20.1% in the second quarter. Chickasaw Capital Management LLC now owns 5,997,981 shares of the company’s stock valued at $164,884,000 after buying an additional 1,005,529 shares during the last quarter. 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.

5 Day Chart for NYSE:PAA

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