Plains All American Pipeline (NYSE:PAA) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.

Other analysts have also issued research reports about the company. Barclays lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and set a $8.00 price target on the stock. in a research note on Tuesday, March 24th. Morgan Stanley boosted their price target on Plains All American Pipeline from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Monday, June 1st. SunTrust Banks decreased their price target on Plains All American Pipeline from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Piper Sandler lowered Plains All American Pipeline from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $14.00 in a research note on Monday, March 9th. Finally, UBS Group decreased their price target on Plains All American Pipeline from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, April 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.21.

PAA opened at $8.49 on Thursday. The stock has a market cap of $6.18 billion, a PE ratio of -3.34 and a beta of 2.37. The company has a current ratio of 0.91, a quick ratio of 0.86 and a debt-to-equity ratio of 1.32. Plains All American Pipeline has a 1 year low of $3.00 and a 1 year high of $25.26. The stock’s 50 day simple moving average is $9.62 and its 200-day simple moving average is $11.87.

Plains All American Pipeline (NYSE:PAA) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The business had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.83 billion. Plains All American Pipeline had a positive return on equity of 19.57% and a negative net margin of 4.90%. Equities analysts forecast that Plains All American Pipeline will post 1.32 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Plains All American Pipeline during the fourth quarter valued at $28,000. Atlas Private Wealth Management bought a new stake in Plains All American Pipeline in the fourth quarter valued at about $85,000. Archer Investment Corp bought a new stake in Plains All American Pipeline in the fourth quarter valued at about $144,000. Bessemer Group Inc. bought a new stake in Plains All American Pipeline in the first quarter valued at about $50,000. Finally, Walnut Private Equity Partners LLC bought a new stake in Plains All American Pipeline in the first quarter valued at about $53,000. 48.16% of the stock is currently owned by institutional investors and hedge funds.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the transportation, storage, terminalling, and marketing of crude oil, natural gas liquids (NGL), and natural gas in the United States and Canada. The company operates in three segments: Transportation, Facilities, and Supply and Logistics.

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

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