Deutsche Bank AG upgraded shares of Plains All American Pipeline L.P. (NYSE:PAA) from a hold rating to a buy rating in a research report report published on Monday. Deutsche Bank AG currently has $37.00 price objective on the stock, up from their prior price objective of $31.00.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Co. upgraded Plains All American Pipeline L.P. from a market perform rating to an outperform rating in a research note on Wednesday, October 5th. Morgan Stanley upgraded Plains All American Pipeline L.P. from an equal weight rating to an overweight rating and boosted their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, October 4th. FBR & Co started coverage on Plains All American Pipeline L.P. in a research note on Friday, September 9th. They set a market perform rating and a $30.00 price objective for the company. Wunderlich boosted their price objective on 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. Finally, Scotiabank reiterated a sector perform rating on shares of Plains All American Pipeline L.P. in a research note on Friday, August 26th. Twenty-two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $29.60.

Shares of Plains All American Pipeline L.P. (NYSE:PAA) traded down 1.66% during midday trading on Monday, reaching $32.03. 98,425 shares of the company were exchanged. Plains All American Pipeline L.P. has a 12-month low of $14.82 and a 12-month high of $33.00. The stock has a market capitalization of $12.74 billion, a P/E ratio of 91.78 and a beta of 0.91. The company has a 50 day moving average price of $29.21 and a 200-day moving average price of $26.45.

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

In related news, EVP John Vonberg sold 35,410 shares of the firm’s 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 $3,664,652.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO W David Duckett sold 17,333 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was 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. Corporate insiders own 1.30% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. MCF Advisors LLC raised its stake in shares of Plains All American Pipeline L.P. by 2.4% in the second quarter. MCF Advisors LLC now owns 3,714 shares of the company’s stock valued at $102,000 after buying an additional 87 shares during the last quarter. Financial Architects Inc raised its stake in shares of Plains All American Pipeline L.P. by 88.2% in the second quarter. Financial Architects Inc now owns 4,117 shares of the company’s stock valued at $113,000 after buying an additional 1,930 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Plains All American Pipeline L.P. by 31.7% in the third quarter. Advisory Services Network LLC now owns 4,162 shares of the company’s stock valued at $131,000 after buying an additional 1,002 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Plains All American Pipeline L.P. by 115.9% in the second quarter. Sunbelt Securities Inc. now owns 4,831 shares of the company’s stock valued at $133,000 after buying an additional 2,593 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. acquired a new stake in shares of Plains All American Pipeline L.P. during the second quarter valued at approximately $146,000. 65.95% of the stock is currently owned by institutional investors.

Plains All American Pipeline L.P. Company Profile

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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