Plains All American Pipeline (NASDAQ:PAA) Upgraded by Truist Financial to Strong-Buy Rating

Plains All American Pipeline (NASDAQ:PAA) was upgraded by research analysts at Truist Financial to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on PAA. UBS Group restated a “buy” rating on shares of Plains All American Pipeline in a report on Monday, February 9th. Mizuho set a $23.00 price objective on shares of Plains All American Pipeline in a research note on Friday, January 23rd. Royal Bank Of Canada boosted their target price on shares of Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Citigroup upped their target price on shares of Plains All American Pipeline from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Finally, Stifel Nicolaus raised their price target on shares of Plains All American Pipeline from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, March 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Plains All American Pipeline has a consensus rating of “Hold” and a consensus price target of $21.85.

Plains All American Pipeline Price Performance

NASDAQ:PAA opened at $22.22 on Monday. The firm has a 50-day moving average of $20.42. The stock has a market capitalization of $15.68 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 3.41 and a beta of 0.59. Plains All American Pipeline has a 12 month low of $15.57 and a 12 month high of $22.42. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.97.

Plains All American Pipeline (NASDAQ:PAA) last issued its earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.33). Plains All American Pipeline had a return on equity of 10.76% and a net margin of 3.21%.During the same period in the previous year, the company posted $0.42 earnings per share. Plains All American Pipeline’s quarterly revenue was down 12.2% compared to the same quarter last year.

Hedge Funds Weigh In On Plains All American Pipeline

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mather Group LLC. acquired a new stake in shares of Plains All American Pipeline during the third quarter worth approximately $33,000. Caldwell Trust Co acquired a new stake in Plains All American Pipeline in the third quarter valued at $38,000. Newbridge Financial Services Group Inc. raised its holdings in Plains All American Pipeline by 40.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 2,263 shares of the company’s stock valued at $41,000 after acquiring an additional 655 shares in the last quarter. Aventura Private Wealth LLC bought a new position in Plains All American Pipeline during the 4th quarter valued at $42,000. Finally, Global Retirement Partners LLC grew its holdings in Plains All American Pipeline by 468.7% during the 3rd quarter. Global Retirement Partners LLC now owns 2,582 shares of the company’s stock worth $44,000 after acquiring an additional 2,128 shares in the last quarter. 41.78% of the stock is currently owned by hedge funds and other institutional investors.

About Plains All American Pipeline

Plains All American Pipeline (NASDAQ: PAA) is a publicly traded energy infrastructure company that provides midstream services for crude oil and natural gas liquids (NGLs). The company’s core activities include gathering, transporting, storing and marketing hydrocarbons, using an integrated network of pipelines, storage terminals, rail and truck transloading facilities. Plains also offers logistics and marketing services that connect upstream producers with refiners, traders and export markets.

Plains owns and operates a portfolio of pipeline and terminal assets concentrated in major U.S.