Plains All American Pipeline (NYSE:PAA) PT Raised to $20.00

Plains All American Pipeline (NYSE:PAA) had its target price upped by research analysts at Wells Fargo & Company from $19.00 to $20.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.64% from the company’s previous close.

A number of other research analysts have also weighed in on PAA. Truist Financial raised their price objective on Plains All American Pipeline from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Scotiabank assumed coverage on Plains All American Pipeline in a research report on Monday, April 8th. They issued a “sector outperform” rating and a $23.00 price target for the company. UBS Group lifted their price target on 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. Stifel Nicolaus lifted their price target on Plains All American Pipeline from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, StockNews.com lowered Plains All American Pipeline from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.15.

Plains All American Pipeline Price Performance

NYSE:PAA traded down $0.18 on Wednesday, reaching $17.60. 154,940 shares of the company’s stock traded hands, compared to its average volume of 3,397,452. The company has a quick ratio of 0.87, a current ratio of 0.98 and a debt-to-equity ratio of 0.64. The stock has a 50-day simple moving average of $17.47 and a 200-day simple moving average of $16.20. The firm has a market cap of $12.34 billion, a PE ratio of 15.33 and a beta of 1.58. Plains All American Pipeline has a 12 month low of $12.50 and a 12 month high of $19.03.

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

Institutional Investors Weigh In On Plains All American Pipeline

Several hedge funds have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC acquired a new position in shares of Plains All American Pipeline during the 1st quarter worth about $26,000. Future Financial Wealth Managment LLC purchased a new position in Plains All American Pipeline in the 1st quarter valued at approximately $28,000. CENTRAL TRUST Co boosted its position in Plains All American Pipeline by 212.5% in the 3rd quarter. CENTRAL TRUST Co now owns 2,500 shares of the pipeline company’s stock valued at $38,000 after buying an additional 1,700 shares during the period. Fortitude Family Office LLC purchased a new position in Plains All American Pipeline in the 4th quarter valued at approximately $39,000. Finally, Scarborough Advisors LLC purchased a new position in Plains All American Pipeline in the 4th quarter valued at approximately $46,000. 41.78% of the stock is owned by hedge funds and other 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.