Raymond James Financial, Inc. upgraded shares of Plains All American Pipeline, L.P. (NYSE:PAA) from a market perform rating to an outperform rating in a research report report published on Monday, May 22nd, Marketbeat.com reports. Raymond James Financial, Inc. currently has $32.00 price objective on the pipeline company’s stock. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also issued reports on PAA. Royal Bank of Canada reaffirmed a neutral rating on shares of Plains All American Pipeline, L.P. in a research report on Friday, February 10th. Guggenheim initiated coverage on Plains All American Pipeline, L.P. in a research report on Monday, April 17th. They issued a neutral rating and a $28.00 price target on the stock. Macquarie reissued an outperform rating and set a $36.00 target price on shares of Plains All American Pipeline, L.P. in a research report on Friday, April 21st. Scotiabank reissued a buy rating and set a $36.00 target price on shares of Plains All American Pipeline, L.P. in a research report on Thursday, April 27th. Finally, Wolfe Research reissued a market perform rating on shares of Plains All American Pipeline, L.P. in a research report on Friday, April 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $32.88.

Plains All American Pipeline, L.P. (NYSE PAA) traded up 4.81% during mid-day trading on Monday, hitting $24.82. The stock had a trading volume of 5,281,479 shares. The firm’s 50-day moving average price is $27.00 and its 200 day moving average price is $30.43. Plains All American Pipeline, L.P. has a one year low of $23.68 and a one year high of $33.95. The company has a market cap of $17.99 billion, a PE ratio of 23.07 and a beta of 0.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last released its quarterly earnings results on Monday, May 8th. The pipeline company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.09. Plains All American Pipeline, L.P. had a return on equity of 9.52% and a net margin of 4.26%. The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. On average, equities research analysts anticipate that Plains All American Pipeline, L.P. will post $1.68 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Clearbridge Investments LLC raised its stake in shares of Plains All American Pipeline, L.P. by 1.6% in the first quarter. Clearbridge Investments LLC now owns 7,024,740 shares of the pipeline company’s stock worth $222,052,000 after buying an additional 111,660 shares in the last quarter. Pointe Capital Management LLC raised its stake in shares of Plains All American Pipeline, L.P. by 67.2% in the first quarter. Pointe Capital Management LLC now owns 78,285 shares of the pipeline company’s stock worth $2,475,000 after buying an additional 31,458 shares in the last quarter. Green Square Capital LLC raised its stake in shares of Plains All American Pipeline, L.P. by 10.2% in the first quarter. Green Square Capital LLC now owns 356,465 shares of the pipeline company’s stock worth $11,268,000 after buying an additional 32,889 shares in the last quarter. TPH Asset Management LLC raised its stake in shares of Plains All American Pipeline, L.P. by 68.1% in the first quarter. TPH Asset Management LLC now owns 838,158 shares of the pipeline company’s stock worth $26,495,000 after buying an additional 339,515 shares in the last quarter. Finally, First Financial Equity Corporation bought a new stake in shares of Plains All American Pipeline, L.P. during the first quarter worth $293,000. Institutional investors own 43.71% of the company’s stock.

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. The Company’s transportation segment operations consist of activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges.

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