Plains All American Pipeline, L.P. (NYSE:PAA) had its price target dropped by stock analysts at Bank of America Corporation from $26.00 to $22.00 in a research note issued on Monday. The brokerage presently has a “neutral” rating on the pipeline company’s stock. Bank of America Corporation’s price target would indicate a potential upside of 8.96% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC reissued a “buy” rating and set a $24.00 target price (up from $20.19) on shares of Plains All American Pipeline, L.P. in a report on Monday. Stifel Nicolaus set a $21.00 target price on shares of Plains All American Pipeline, L.P. and gave the stock a “hold” rating in a report on Monday. Raymond James Financial, Inc. raised shares of Plains All American Pipeline, L.P. from an “outperform” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday. UBS AG upgraded shares of Plains All American Pipeline, L.P. from an “outperform” rating to a “strong-buy” rating in a research report on Monday. Finally, BMO Capital Markets upgraded shares of Plains All American Pipeline, L.P. from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Plains All American Pipeline, L.P. has a consensus rating of “Hold” and an average price target of $29.22.

Shares of Plains All American Pipeline, L.P. (PAA) traded up 1.213% during midday trading on Monday, hitting $20.435. 4,927,339 shares of the stock were exchanged. The company has a market cap of $14.81 billion, a PE ratio of 15.768 and a beta of 0.95. The stock has a 50 day moving average price of $23.85 and a 200-day moving average price of $27.71. Plains All American Pipeline, L.P. has a 12 month low of $18.82 and a 12 month high of $33.95.

Plains All American Pipeline, L.P. (NYSE:PAA) last issued its earnings results on Monday, August 7th. The pipeline company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.05. The business had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.50 billion. Plains All American Pipeline, L.P. had a return on equity of 10.14% and a net margin of 4.42%. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period last year, the company posted ($0.12) earnings per share. On average, analysts predict that Plains All American Pipeline, L.P. will post $1.48 EPS for the current year.

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Several institutional investors have recently bought and sold shares of the stock. Founders Capital Management acquired a new position in Plains All American Pipeline, L.P. during the first quarter valued at $101,000. Trust Co. of Vermont raised its position in Plains All American Pipeline, L.P. by 1,260.0% in the first quarter. Trust Co. of Vermont now owns 3,400 shares of the pipeline company’s stock valued at $107,000 after buying an additional 3,150 shares during the period. BB&T Investment Services Inc. acquired a new position in Plains All American Pipeline, L.P. during the second quarter valued at $108,000. IHT Wealth Management LLC acquired a new position in Plains All American Pipeline, L.P. during the second quarter valued at $118,000. Finally, Advisory Services Network LLC raised its position in Plains All American Pipeline, L.P. by 5.1% in the second quarter. Advisory Services Network LLC now owns 4,624 shares of the pipeline company’s stock valued at $121,000 after buying an additional 223 shares during the period. Institutional investors own 42.08% 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.

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

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