Truist Financial Increases Plains All American Pipeline (NYSE:PAA) Price Target to $17.00

Plains All American Pipeline (NYSE:PAA – Get Rating) had its target price lifted by analysts at Truist Financial from $15.00 to $17.00 in a note issued to investors on Thursday, The Fly reports. Truist Financial’s target price points to a potential upside of 26.02% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. StockNews.com started coverage on Plains All American Pipeline in a report on Thursday. They issued a “buy” rating on the stock. UBS Group increased their price target on Plains All American Pipeline from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. JPMorgan Chase & Co. increased their price target on Plains All American Pipeline from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, March 9th. Royal Bank of Canada increased their price objective on Plains All American Pipeline from $13.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Friday, March 24th. Finally, Barclays increased their price objective on Plains All American Pipeline from $13.00 to $15.00 in a research note on Tuesday, April 18th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.68.

Plains All American Pipeline Stock Performance

Shares of PAA stock opened at $13.49 on Thursday. Plains All American Pipeline has a 1 year low of $9.10 and a 1 year high of $13.62. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $12.67 and its two-hundred day simple moving average is $12.45. The company has a market cap of $9.42 billion, a PE ratio of 8.88 and a beta of 1.70.

Plains All American Pipeline (NYSE:PAA – Get Rating) last issued its quarterly earnings data on Friday, May 5th. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Plains All American Pipeline had a return on equity of 10.39% and a net margin of 2.18%. The business had revenue of $12.34 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. Research analysts predict that Plains All American Pipeline will post 1.21 earnings per share for the current year.

Institutional Trading of Plains All American Pipeline

Several hedge funds and other institutional investors have recently made changes to their positions in PAA. PFG Advisors raised its stake in Plains All American Pipeline by 4.8% in the 1st quarter. PFG Advisors now owns 17,422 shares of the pipeline company’s stock worth $217,000 after acquiring an additional 797 shares during the last quarter. Hengehold Capital Management LLC raised its stake in Plains All American Pipeline by 4.3% in the 1st quarter. Hengehold Capital Management LLC now owns 19,524 shares of the pipeline company’s stock worth $243,000 after acquiring an additional 800 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Plains All American Pipeline by 5.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 16,332 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 831 shares during the last quarter. Eclectic Associates Inc. ADV raised its stake in Plains All American Pipeline by 7.6% in the 4th quarter. Eclectic Associates Inc. ADV now owns 12,101 shares of the pipeline company’s stock worth $142,000 after acquiring an additional 855 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Plains All American Pipeline by 12.9% in the 4th quarter. IFP Advisors Inc now owns 7,503 shares of the pipeline company’s stock worth $178,000 after acquiring an additional 857 shares during the last quarter. Hedge funds and other institutional investors own 42.26% of the company’s stock.

Plains All American Pipeline Company Profile

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Plains All American Pipeline LP engages in the operation of midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids, and natural gas. It operates through the Crude Oil and Natural Gas Liquids (NGL) segments. The Crude Oil segment refers to the pipeline transportation, terminalling, storage, and gathering assets.