Citigroup Raises Plains All American Pipeline (NYSE:PAA) Price Target to $18.00

Plains All American Pipeline (NYSE:PAA) had its price target lifted by equities research analysts at Citigroup from $17.50 to $18.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the pipeline company’s stock. Citigroup’s price target points to a potential upside of 3.39% from the company’s current price.

Several other research firms have also issued reports on PAA. UBS Group increased their price target on shares of Plains All American Pipeline from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Truist Financial upped their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group upped their price objective on Plains All American Pipeline from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Stifel Nicolaus upped their price objective on Plains All American Pipeline from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Scotiabank started coverage on Plains All American Pipeline in a research note on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Plains All American Pipeline presently has a consensus rating of “Moderate Buy” and an average target price of $19.08.

Plains All American Pipeline Stock Performance

Shares of PAA stock traded down $0.08 during mid-day trading on Monday, reaching $17.41. The stock had a trading volume of 1,821,021 shares, compared to its average volume of 3,436,524. The firm has a market cap of $12.21 billion, a PE ratio of 14.97 and a beta of 1.58. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. Plains All American Pipeline has a one year low of $12.50 and a one year high of $19.03. The firm’s 50 day simple moving average is $17.37 and its 200 day simple moving average is $16.15.

Plains All American Pipeline (NYSE:PAA) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Plains All American Pipeline had a net margin of 2.08% and a return on equity of 10.53%. The firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the previous year, the company earned $0.41 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that Plains All American Pipeline will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Plains All American Pipeline

Large investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in shares of Plains All American Pipeline in the 1st quarter valued at $28,000. CENTRAL TRUST Co raised its stake in Plains All American Pipeline by 212.5% during the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,700 shares during the period. Fortitude Family Office LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth $39,000. Scarborough Advisors LLC acquired a new stake in Plains All American Pipeline during the 4th quarter worth $46,000. Finally, Briaud Financial Planning Inc bought a new position in Plains All American Pipeline during the 3rd quarter worth about $58,000. 41.78% of the stock is currently owned by institutional investors.

Plains All American Pipeline Company Profile

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.