Plains All American Pipeline (NYSE:PAA) PT Raised to $14.50 at TD Securities

Plains All American Pipeline (NYSE:PAAGet Rating) had its price objective upped by analysts at TD Securities from $14.00 to $14.50 in a report released on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the pipeline company’s stock. TD Securities’ target price would indicate a potential upside of 29.46% from the stock’s previous close.

PAA has been the subject of several other research reports. Seaport Res Ptn upgraded Plains All American Pipeline from a “neutral” rating to a “buy” rating in a research note on Monday, August 1st. Morgan Stanley raised their target price on Plains All American Pipeline from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 26th. Credit Suisse Group upgraded Plains All American Pipeline from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $13.00 to $14.00 in a research report on Thursday, May 12th. Wolfe Research downgraded Plains All American Pipeline from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 1st. Finally, Raymond James lifted their price target on Plains All American Pipeline from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Plains All American Pipeline has an average rating of “Moderate Buy” and an average price target of $14.18.

Plains All American Pipeline Trading Up 1.7 %

Shares of PAA opened at $11.20 on Thursday. Plains All American Pipeline has a fifty-two week low of $8.64 and a fifty-two week high of $12.10. The business has a 50-day moving average of $10.60 and a 200 day moving average of $10.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.88 and a current ratio of 0.94. The firm has a market cap of $7.90 billion, a P/E ratio of 13.66 and a beta of 1.79.

Plains All American Pipeline (NYSE:PAAGet Rating) last issued its earnings results on Wednesday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.16 by $0.14. Plains All American Pipeline had a return on equity of 9.77% and a net margin of 1.36%. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, research analysts forecast that Plains All American Pipeline will post 1.1 EPS for the current year.

Insider Activity at Plains All American Pipeline

In related news, Director Kevin S. Mccarthy purchased 200,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The shares were acquired at an average cost of $9.81 per share, with a total value of $1,962,000.00. Following the purchase, the director now directly owns 200,000 shares of the company’s stock, valued at $1,962,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Plains All American Pipeline

A number of large investors have recently bought and sold shares of the stock. Alps Advisors Inc. increased its stake in Plains All American Pipeline by 1.7% in the 4th quarter. Alps Advisors Inc. now owns 52,505,872 shares of the pipeline company’s stock worth $490,405,000 after purchasing an additional 880,660 shares during the period. Invesco Ltd. increased its stake in shares of Plains All American Pipeline by 38.9% during the first quarter. Invesco Ltd. now owns 17,415,219 shares of the pipeline company’s stock valued at $187,388,000 after buying an additional 4,880,244 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Plains All American Pipeline by 5.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 9,803,725 shares of the pipeline company’s stock valued at $91,566,000 after buying an additional 467,834 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of Plains All American Pipeline by 5.7% during the second quarter. Kayne Anderson Capital Advisors LP now owns 9,079,150 shares of the pipeline company’s stock valued at $89,157,000 after buying an additional 492,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Plains All American Pipeline by 21.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,563,414 shares of the pipeline company’s stock valued at $84,093,000 after buying an additional 1,520,490 shares during the period. 45.58% of the stock is owned by hedge funds and other institutional investors.

Plains All American Pipeline Company Profile

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

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